Chris Douthit

@chrisdouthit

The Future of the Crypto Wallet

September 3rd 2018

Wouldn’t it be nice if your cryptocurrency wallet could be an extension on your web browser with all the safety features needed to keep it safe from hackers and anyone else that might want to steal your assets? Maybe you would like to have your wallet as an app on your smartphone which would be just as secure and easy to use? Well, we have some good news for you.

Some of you might remember the CEO of Cardano, Charles Hoskins, was invited to come and give a presentation about their Blockchain to Google and rumors swirled around about how there might be a collaborative effort of some kind put together by these two companies to create something.

Well, here we are a few weeks later and now we see some significant new things coming soon for those who invest in ADA cryptocurrency with Project Icarus.

Project Icarus: Icarus is a white label wallet that runs in Google Chrome as an extension and offers an easy-to-use alternative to Daedalus, which is Cardano’s main wallet platform. Anything you can do with Daedalus you will accomplish with Icarus, and there will be no need for the new Icarus wallet to download and validate an image of the Cardano Blockchain. Icarus will use a copy housed on a server which will make using it much faster than Daedalus. According to Cardano, Icarus is quite secure because your private keys are encrypted on your machine and not shared with any servers. Another great thing about this is that Cardano is releasing the source code, which means the ADA community can develop its own branded wallets using this platform. This could mean that the wallet will become an extension for other browser types like Firefox or any of the other web browsers out there if other third-parties desire.

Those of you who have used the Daedalus wallet and found it to be difficult to use, can rest easy as the new Icarus wallet will be more user friendly according to Cardano, and setting it up will also be easy as it will be presented as a “one-click” download and installation from the Google Chrome Webstore. Cardano has had this project fully audited for security and according to the company it has measured up to the exacting protocols needed for transacting cryptocurrency. They also set up Icarus to become a mobile application allowing investors to store and transact ADA cryptocurrency from their smartphone, which gives convenient transactions as you could transfer ADA from almost anywhere.

The project will set the standards for user experience others will have to meet or beat to compete, and in the same way, it will set the standard for security. Light wallets might become the thing of the future, and Icarus will pave that road with its many advantages and possibilities which will put Cardano one step closer to creating its own ecosystem based in ADA putting them on the map and ensuring their place alongside other great platforms.

Also, if the main goal of Cardano is to implement programs ensuring adoption, this is a great way to go about it because it allows people who might feel intimidated by cryptocurrency to relax. Sometimes the information/misinformation coming out about how new investors should set up and use wallets so their investments won’t get put into someone else’s pocket is a little daunting. But with a “one click” installment and a more user-friendly platform that can be sourced every time an investor opens their web browser, this might be one of those bridges crossing the gap for a lot of investors looking to take their first steps into the cryptocurrency space.

This project is also open to third-party contributors allowing merchants to create their own programs and adopt ADA crypto coins and platforms making a viable means for conducting everyday transactions. When these third-party applications are created for ADA we will see this cryptocurrency become one of the preferred platforms for making transactions, which will lead the way and cause other platforms to make similar advancements.

If you are interested in investing in Cardano and riding this train into the future now might be a great time as their coins are very easy to buy. As of this writing, they are worth about $0.10, and it may be the time to take a look because their technology is about to put this cryptocurrency on the map and make a big splash that will be far-reaching in setting the standards for other platforms.

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