All Set for Cardano’s Light Wallet Launch after Audit

The firm has successfully completed an audit for the Cardano light wallet. The Charles Hoskinson led firm contracted a third party auditor. 


IOHK Opts For Third Party Auditor On Cardano Wallet

Cardano has announced that an audit exercise by Kuldelski security has approved everything for smooth adoption of the Icarus project.  Icarus is a protocol to be implemented on the Cardano light wallet. Cardano was founded by Charles Hoskison.

IOHK which runs Cardano contracted services of Kuldelski which is an independent auditor. The two parties have had a long partnership. The firm has also been involved in auditing of other products by IOHK. In this case, the security firm has been serving a third-party.

IOHK’s decision to contract a third-party auditor is to ensure that everything is reviewed. The firm has internal auditors but we have a chance that they might miss something in regards to security matters. In case an issue has been highlighted by the external auditor, the work of IOHK team will to patch the said malfunctions. In a statement, IOHK stated that the checks are meant to enhance the security of wallets by customers.

Cardano ranks Icarus as an open source code. It has the potential of being tweaked as a reference for the development of a light wallet. Developers can also benefit from the open source by using its infrastructure to set an ecosystem.

With the development of Cardano, its token ADA has been struggling in the market. At the moment, it is trading at $0.074. The token has a market capitalization of $1.93. Data shows that it is witnessing a decline of 2.67% within the past 24 hours of trading. The trading volume is at $22.5 million.

Hoskinson’s Take On Cardano’s Development Journey

Recently, Hoskinson held an AMA in Toronto where he addressed the progress of Cardano. He also spoke about the implication of funding it received from an ICO. Compared to other projects like EOS that raised a lot in funding, Hoskinson stated that money is not a major factor in determining success. He said focus should be on developing an efficient blockchain. He stated that initially, bitcoin did not have any funding, while ethereum also raised a minimal amount of capital, but they are very successful projects to date.

2 years ago

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