Cardano News and Price Analysis: ADA +10% in last 24 hours! Emurgo Builds Its First Wallet On Cardano. Friday, August 17
Important Cardano Cryptocurrency News
Emurgo Builds Its First Wallet On Cardano
Ken Kodama is one of the founders of Cardano. His company Emurgo has announced that it built its first product, the Yoroi on the Cardano platform. Yoroi is a secure and versatile wallet for ADA built by IOHK, the engineering company behind Cardano.
Kodama said that the light wallet was built according to best software practices and has gone through security audit. He said the fast wallet was built with day-to-day use of the Cardano client.
Emurgo is based in Japan. The company earlier entered into a joint venture partnership for the promotion and marketing of blockchain related businesses for the Cardano platform. What is obvious is that Emurgo believes that a launch of the light wallet on Cardano is a step in the right direction in their commercialization efforts on Cardano.
The Cardano official Twitter channel announced the launch saying: “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!”
Cardano still Has Good Potentials
The coin market may be going through tough times at the moment. However, the data shows that Cardano has maintained relative stability even though the coin is exchanging hands presently at just $0.1. For instance, in the past one month, the coin has been trading within a tight range of $0.13542 and $0.15387.
Although ranked at number 10 according to market cap, the coin is yet to meet its full potential and the team does not seem to be resting on their oars as seen with projects connected with the platform.
The past days have been tumultuous for the coin market with Cardano losing heavily at a point by plunging to $0.0844 against the tethered dollar. The bearish trend for the coin has a resistance at $0.11. Although the coin broke through this support, it has continued to undergo corrections and may stabilize around the $0.11 mark for the short term.
ADA/USD Price Chart, Friday August 17th:
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