People don’t see the Internet as an endless tangle of network protocols, but as a place where they can work, communicate and have fun. They say blockchain is going to change the Internet and we’ve even started calling it Web3. The idea of Web3 has one major problem. Should the backbone for Web3 be Bitcoin, Ethereum, Cardano, or something else? Most people believe the future will be multi-chain. The team building the Lace wallet plans to support multiple blockchains, and it is very likely that Bitcoin and Ethereum will also be supported. Lace Wallet is not the first attempt in this area, but thanks to the IOG team there is a good chance that it will be one of the first to be reliable, secure, support many blockchains, and gain popularity among users. Lace can be a single gateway to Web3 for you. Users may not even know that the services they use run on many blockchains. The blockchain industry needs a multi-chain wallet for the next wave of adoption, and Cardano may have an advantage if Lace is it.
Centralized exchange and lending platforms are multi-chain services with a multitude of custodial wallets. People use them because they can access many blockchains through a single account. If Lace Wallet offers similar services, decentralization will win. Bitcoiners can switch to Lace Wallet if they want to use DeFi services and thus they gain access to the Cardano ecosystem. Lace can onboard cryptocurrency users into the Cardano ecosystem if it offers what they want, which is security, simplicity, and the availability of a large number of services in one place.
This article was prepared by Cardanians with support from Cexplorer.
Read the article: https://cexplorer.io/article/lace-wallet-could-be-your-gateway-to-web3