Yes the world of cryptocurrencies is so acclaimed today, it is in large part due to the constant improvements that its developers bring to it every day. This is one of the reasons for its continued expansion.
Among the actors actively participating in the development of the sector, we can mention Cardano (ADA). This is a blockchain whose developers are working hard to improve their service. They are also very close to their community and do not fail to inform them about each of the updates made to the system.
It’s in this perspective qu’Input Output (IOHK), Cardano’s parent organization, recently announced the launch of a new update to its dedicated Daedalus crypto wallet. This announcement comes from a series of tweets and promises multiple improvements.
Daedalus Wallet: What is it?
Daedalus is a full-node e-wallet that has been designed to specifically house the cryptocurrency native to the Cardano project: ADA. Launched in 2015, Daedalus Wallet is supported by Input Output, the renowned research and engineering company behind the Cardano blockchain.
Since he was thought and created for ADA, it only supports this token and is therefore not compatible with other cryptocurrencies. However, this specificity gives it many advantages over the Cardano blockchain.
Indeed, the Daedalus system being integrated with a complete Cardano node, it is able to store the entire history of the Cardano blockchain and automatically validates all blocks and all transactions taking place on the network. This allows him to actually operate independently.
Moreover, although it is not compatible with mobile devices, Daedalus is an open source software compatible with several platforms such as Windows, MacOS and Linux.
Thanks to its system of hierarchical deterministic portfolios (HD), it allows its users to manage multiple wallets simultaneously and thus enables them to control their funds in a more organized manner.
It is important to note that since its launch in 2015, the Daedalus Wallet has not yet suffered from any security breaches. This is an extremely rare case in the world of cryptocurrencies where hackers are on the lookout for any opportunity to create chaos. One of the factors contributing to this state of affairs is certainly frequent updates from which the platform benefits.
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What’s new in the new update
According to the announcement released by IOHK, Daedalus 5.1.0 introduces a total of two updates in one to the portefeuille crypto. The first targets the hardware integration of the wallet through an upgrade of the LedgerJS package as well as the upcoming addition of the Ledger Cardano App 5.0.0. As for the second, it concerns the upgrade of Trezor Connect to version 9.
OUT NOW: #Daedalus 5.1.0 for mainnet#Daedalus mainnet 5.1.0 brings two updates to the hardware wallet integration. An updated LedgerJS package including the upcoming @Ledger #Cardano App 5.0.0 and Babbage support, and @Safe Connect update to version 9.
— Input Output (@InputOutputHK) October 13, 2022
They also clarified that former wallet users will automatically receive an invitation for the update via the Daedalus newsfeed. However, new users will be able to just download this new version from the official website of the project.
They concluded their announcement by reminding users that Daedalus is a full node wallet for pc only. So any mobile version of Daedalus is just a gross scam aimed at stealing not only users’ Cardano credentials but also their ADA tokens.
All these precautions are not without reason, because it is not uncommon for users of Daedalus wallets to be the target of scams.
What are the effects of major Daedalus updates?
Daedalus updates are always a time of excitement and joy within the Cardano community. Indeed, the occurrence of a new update almost always signals the coming of exciting new features.
Thus, some of the previous updates, such as version 4.9.0, served to greatly simplify the process of sending native tokens while fixing the incorrect display issue free disk space in Windows 11.
It is therefore not surprising to see that the ADA community is still very active on the various social media. Indeed, according to the analyzes of various experts, the daily social mentions of Cardano reached a high of 52,470 on September 23rd for this 5-year-old blockchain. A figure which brings the social mentions of the project to a total of 2.32 million on this date.
However, despite all this good news, Cardano is also suffering from the crisis that has affected the cryptocurrency world this year. Thus, its total locked value fell to its lowest level in eight months recently as the price of the ADA token at the time of writing this article was de 0,36 $, a drop of 4.86% on the day, according to data from CoinMarketCap.
Following The Merge, the Vasil update for Cardano has been a hot topic in recent weeks. Read our post to learn more about it.