Cardano’s development team to launch a light wallet, should you buy ADA?

on Jun 22, 2022
  • Cardano delay’s the Vasil blockchain upgrade.
  • Input Output has created a new light wallet called Lace.
  • Cardano’s trading volume decreased by 11% in the last 24 hours, and its value has seen a decrease of 7%.

Cardano ADA/USD is a decentralized blockchain that utilizes a Proof-of-Stake (PoS) consensus mechanism.

Specifically, it allows for smart contracts, decentralized applications (dApps), non-fungible tokens (NFTs), and much more, all of which have contributed to its overall success and growth.

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The Light wallet as a catalyst for growth

Input Output, which is the official development company behind the Cardano blockchain, posted a video from the Consensus 2022 event, where Charles Hoskinson introduced Lace.

Lace is a lightweight platform for speed and simplicity and aims to deliver a seamless flow. 

The cryptocurrency wallet is in development. However, it aims to drive adoption through the delivery of enhanced capability and ease of use.

Users are given the opportunity to keep their NFTs as well, and it is constructed through the help of a side chain solution from Cardano’s development team. 

However, on June 20, 2022, the company posted an official publication on their blog where they announced that the Vasil hard fork was postponed to the end of June, where they cited software bugs and a focus on quality as well as security. 

Their new target date to fork the testnet is at the end of June, and once completed, they will allow four weeks for exchanges and SPOs to carry out any required integration and testing work.

Should you buy Cardano (ADA)?

On June 22, 2022, Cardano (ADA) had a value of $0.4625.

Cardano (ADA) achieved its all-time high point of value on September 2, 2021, when the token reached a value of $3.09.

When we go over how the token performed in May, Cardano (ADA) had its highest point on  May 5 at $0.8969. The lowest point the cryptocurrency got to was on May 12 at $0.407.

Here, we can see a clear indication that the cryptocurrency decreased by $0.4899 or 54%. 

With the eventual launch of the Vasil hard fork, and the light wallet, we can expect Cardano (ADA) to reach $1 by the end of July 2022, which makes it a great cryptocurrency to buy.

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