Swiss-based Cardano Foundation, the non-profit organization created to promote the Cardano blockchain ecosystem, is introducing a new digital Identity Wallet. The new product is compatible with the World Wide Web Consortium (W3C), an international standards organization for the World Wide Web, said a Monday announcement.
Benefits of the Identity Wallet
- The Identity Wallet supports multiple identity and credential standards
- Manages self-sovereign identities across Cardano and other blockchain networks
- Manages cryptos
- Facilitates seamless interaction with Cardano’s Decentralized Applications (DApps)
- Boasts a user interface that lures new users to the platform
- Guarantees safety concerning the management of digital assets
- Promotes interoperability across ecosystems
“The Cardano (ADA) team’s design for this mobile wallet reflects their focus on connecting diverse ecosystems,” the tweet read.
Support for Key Event Receipt Infrastructure (KERI)
The wallet also supports the Key Event Receipt Infrastructure (KERI), a protocol for digital identities. KERI enhances the security and efficiency of identity management while streamlining the user experience.
The wallet is currently available on both Android and iOS devices, the firm noted. This is the second such wallet launched by Cardano this year, after the Light Wallet Lace, launched in July. The Lace wallet allows users to trade crypto, view NFTs, stake crypto, and interact with dApps.
Cardano has positioned itself as a leading player in the blockchain ecosystem, with a rising influence in the DeFi sector and strong market performance of its token, ADA. The launch of the new Identity Wallet did not have a significant impact on the ADA token price, which is currently trading at $0.6144.
Last month, the Cardano network surpassed the Bitcoin blockchain in its total value locked (TVL).
