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IOHK Expands Project Catalyst, Updates Cardano’s Daedalus Wallet for Ledger App; ADA Pumps

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IOHK Expands Project Catalyst, Updates Cardano’s Daedalus Wallet for Ledger App; ADA Pumps

2021 has kicked off nicely for Cardano and its partners with the launch of Project Catalyst, and the release of the much-awaited Cardano’s native wallet, Daedalus.

Input-Output Honk Kong, the company behind the Cardano blockchain, has announced the launch of the Daedalus native wallet. According to the announcement, the wallet will provide support for the Daedalus Ledger hardware wallet with additional functions to improve scalability.

One important feature is the search function for staking pools. The feature enables users to find stakes using their ID and an added verification section labeled as the “Delegation Wizard.” The verification feature links a stake pool to a social media profile or a website, which shows that the stake pool is trustworthy.

The past weeks have been particularly busy for the IOHK team and their project manager Volodymyr Hulchenko as they try to improve the new Daedalus functions.

Apart from Ledger, there is now support for Trezor on Cardano’s native wallet. Additionally, the team is still working to deploy Cardano’s full decentralized finance capabilities.

Project Catalyst enters phase 3

With the improved Daedalus, IOHK also launched a $500,000 fund that will take care of the next phase of the Project Catalyst. This is coming after the conclusion of “fund 2”, which saw the submission of proposals on every aspect including the expansion of Cardano to West Africa and further improvements on the platform. In the Fund 2 project, $250,000 was allocated to community-based projects centered on making Cardano more scalable.

But with Project Catalyst, the community is trying to set up the world’s largest decentralized innovation fund, as over 1,600 registered community members ready to vote. This project has overtaken other similar projects, including Ethereum’s top 100 DAOs and the Dash project.

Project Catalyst will empower registered users

According to the developers, Project Catalyst was launched as the first stage of the Voltaire roadmap, which is designed to ensure best-in-class governance in Cardano.

With the right governance, it will enable a proper shape of blockchain to its users. It empowers any user who has signed up to catalyst with the authority to bring ideas and offer suggestions for further project growth. Ada holders who are registered on Catalyst are also empowered to vote on funding proposals for the continuous evolution of Cardano as a community as well as a platform.

According to the Cardano developers, the project will sustain the Cardano system as well as accelerate its development.

Fund 2 voting has ended, and the organizers are still compiling the results. The winning team will be given the funds to assist them in bringing their proposals to fruition.

IOHK rolls out a native client for Ethereum Classic

In a related development, IOHK is celebrating the conclusion of the Mantis project, which offers more exposure within the Cardano ecosystem. The project also expanded to a new client Mantis for Ethereum Classic.

According to IOHK, the project will be a more useful, secure, and reliable alternative to infrastructure providers, wallet users, and developers.

Along with the rest of the cryptocurrency market, Cardano’s ADA has enjoyed massive gains. Reaching a 24 hour high of $0.356 while flipping both Bitcoin Cash and Litecoin to hit 5th in market cap. ADA is currently up 83% YTD.

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