Lace, a non-custodial wallet designed for web3 by Input Output, has officially transitioned to a multichain platform, with initial integration of Bitcoin.
Input Output, a research initiative focused on infrastructure and web3, was established in 2015 by Charles Hoskinson and Jeremy Wood. The progression was revealed through a press statement on March 20. Hoskinson is notably recognized as the founder of Cardano (ADA), one of the leading cryptocurrency and blockchain efforts.
As stated by Input Output, the Lace wallet’s non-custodial model is now fully multichain, enhancing its capabilities beyond Cardano and adding support for Bitcoin (BTC) at launch.
“The future of blockchain is multichain, and with Lace, we’re ensuring that users have everything they require in one robust, user-friendly wallet. Building on our established groundwork with Cardano, we see Bitcoin as the next logical step. And this is just the beginning,” explained Brandon Wolf, general manager at Lace.
Lace now enables users to store, manage, and send BTC.
According to Input Output, the addition of BTC marks a significant step toward realizing the potential of web3.
This integration not only propels Bitcoin’s adoption but also enhances the overall ecosystem. With the leading blockchain network gaining traction in decentralized finance and smart contracts, several layer-2 solutions built on Bitcoin are also experiencing greater acceptance.
“Bitcoin served as the entry point for many into Web3, and now we are witnessing its next phase with the emergence of Bitcoin DeFi. With the integration of Bitcoin now live, Lace is establishing an intuitive gateway to harness the best of blockchain advancements,” stated Hoskinson.
The integration offers a user-friendly gateway that can enhance blockchain innovation and support the expansion of DeFi, according to the Cardano founder.
In addition to DeFi, Lace also engages with non-fungible tokens and multi-chain asset management within the web3 space.
Bitcoin continues to draw interest due to its potential, with initiatives like the zero-knowledge powered platform BitcoinOS championing its integration within the crypto realm.
The project recently made its BitSNARK v0.2 open-source, enabling limitless programmability for BTC, as its team shared on social media. BitcoinOS’ code allows anyone to validate ZK proofs on the Bitcoin network.