Hoskinson further supports the idea of creating a certified wallet standard
Days after stating that the team behind Cardano’s development is hoping to have a certification standard for ADA wallets, Charles Hoskinson has further highlighted the benefits of the initiative for the entire ecosystem.
In a tweet shared by Cardano’s founder yesterday, Hoskinson stressed that the best aspect of having certification standards for ADA wallets is that it will create an opportunity for catalyst funding.
Hoskinson believes ADA holders will be encouraged to issue grants to their favorite wallet developers to upgrade their performance, security, and reliability in order to earn the certification status.
Hoskinson further describes the certification initiative as a win/win for everyone, including ADA holders, wallet developers, and the development team behind Cardano.
“The best part of wallet certification standards is that it will give a goal for catalyst funding. Ada holders can give grants to their favorite wallets to upgrade to a certified status to improve security, reliability, and performance. It’s a win/win for everyone,” Hoskinson said.
Hoskinson Supports Healthy Competition
Despite stating the importance of having a certification standard for wallets, some ADA holders are still not in support of the initiative.
An ADA holder with the username @CryptoBeth69 kicked against the idea of having multiple wallets. The Twitter user called on the Cardano team to focus on only one wallet, which will eventually become the official Cardano wallet.
Responding to the user’s request, Hoskinson said competition is good and it helps to build a strong ecosystem.
Competition is good. It makes a strong ecosystem
— Charles Hoskinson (@IOHK_Charles) September 30, 2022
IOG’s Wallet Preference
The development comes a few days after the cryptocurrency entrepreneur proposed the idea of having certification standards to create the notion of certified wallets versus non-certified wallets.
The certified wallet status will be given to wallets that meet the set standards established by the Cardano development team.
“We hope to get rid of the notion of an official wallet altogether and instead have a certified wallet versus non-certified, and under the certification standards, you can put functional and non-functional requirements, including benchmarking and performance requirements for user experience,” Hoskinson was quoted as saying in a video shared with the Cardano community.