Blockchain-based distributed computing platform Cardano received a wallet boost on August 15, 2018, after Emurgo, a partner firm of Cardano, announced wallet support for the world’s eighth largest cryptocurrency network.
Following an announcement by Cardano founder Charles Hoskinson on August 14, Ken Kodama, the CEO of Emurgo, revealed the impending launch of Yoroi: A digital assets wallet built on the Cardano protocol.
As stated on its website, Yoroi is a “light” wallet for Cardano, claimed to be “simple, fast, and secure.” The engineering team of Yoroi is Hong Kong-based InputOutput, a blockchain engineering lab which develops products for Cardano and Ethereum Classic.
As per reports, Kodama claimed Yoroi utilizes the market’s best software practices and has undergone an elaborate security audit.
In addition, Kodama stated Yoroi is aimed at popularizing everyday utility usage for the ADA user, instead of a “hodling” tool.
@emurgo_io has launched Yoroi, a web light wallet for Cardano! It is simple, secure and fast! Currently, in beta connected to the testnet, with plans for a mainnet release in mid-September!! More info at: https://t.co/iD7FuN8gfZ
— Cardano Foundation (@CardanoStiftung) August 15, 2018
Based out of Japan, Emurgo is touted as the venture capital arm of Cardano and assists the blockchain incubator in various commercial ventures and other technical developments. Kodama defines Emurgo’s main goal to be the growth of Cardano’s ecosystem and reach businesses globally.
Speaking about the release, the Cardano Foundation expressed on their twitter account:
“The Cardano roadmap has been updated with a special announcement on Project Icarus, a reference implementation for lightweight wallets, and Yoroi, a light-client wallet launched by Emurgo today!”
The statement is in reference to IOHK’s Chrome extension wallet Icarus, a pet-project of Hoskinson. The entrepreneur has earlier referred to Yoroi as a “hard fork” of Icarus and noted the wallet’s testnet will be released in September 2018.
On July 30, 2018, Cardano announced the launch of its much-awaited IELE testnet, focusing on assisting the development and efficiency of Cardano’s virtual machine. The IELE update also helps mitigate “correctness” and other security concerns.
It seems to be a busy time indeed for the developers of Cardano. The protocol’s “1.4” is scheduled to release early next month, as revealed by Hoskinson on Twitter. This update is touted as one of the most significant for the 2015-founded protocol.