Cardano development team has launched the latest version of the Daedalus wallet. The newest version brings vast improvements and addresses issues like blockchain verification progress. Since the launch of the newest version, ADA has surged in value and currently has a market capitalization of $37.8 billion, reports zycrypto.com.
The Cardano community is excited after the latest update has been affected, leading to a marked improvement in the Cardano ecosystem. In addition, the team improved upon Daedalus, a secure wallet for the Cardano ecosystem.
The Cardano network has released the latest version of its open-source wallet called Daedalus 4.8.0, developed by Input-Output Hong Kong (IOHK). The update went live on February 3 and integrated the latest version of Cardano node v1.33.0.
The latest wallet upgrade was long-awaited and improved performance in several areas, including minor fixes, and goes on to revamp the user interface for a seamless experience. The update also unveils the splash screen and gives users an option to add another configuration to the Cardano node runtime system. This facility is available only for computers with less than 16GB ram; it reduces memory usage and prompts system requirements.
Daedalus, a full-node wallet, is only available on desktops
Daedalus 4.8.0 also manages several issues like blockchain verification progress by ensuring that syncing is displayed correctly for an enhanced experience.
The developers of Daedalus IOHK have issued a stern warning that Daedalus is a full-node wallet and is only available on desktops. Any mobile Daedalus is a scam designed to steal users’ seed phrases and ADA holdings. Users are encouraged to download the wallet from only official sources for additional security.
🆕 OUT NOW: #Daedalus 4.8.0 Mainnet
— Input Output (@InputOutputHK) February 3, 2022
The latest upgrade positively impacts ADA values, which has surged by an impressive 6.25%. In contrast, transaction volumes have received an upward momentum that keeps them ahead of Solana. Moreover, since the launch of the whole node wallet, Daedalus, which downloads an entire Cardano Blockchain, the wallet has become immensely popular.
Cardano’s rise to glory
Cardano had a meaningful run in 2021, and it saw itself on the third rank by market capitalization. After that, however, it saw a downturn largely precipitated by the resurgence of other chains like Binance Smart Chain and the growth of stablecoins like Tether and USD Coin.
The Alonzo upgrade opened the doors for smart contracts on Cardano. The energy efficiency of the network also gave good publicity for the platform. ADA trades at $1.13, a decline of 63.90% from its all-time high of $3.10.