Eternl, a Cardano light wallet available as a browser extension and mobile app, is preparing for an upcoming major update. According to Eternl recent Tweet, they are close to releasing Eternl v1.11.0, which will bring significant changes to the core functionality of the wallet.
The upcoming version will bring several benefits to users, including faster syncing, reduced database size, and lower memory usage. This update sets the stage for Eternl v2, which introduces a fresh user interface and a new data structure.
Eternl is not the only light wallet available for Cardano. Another popular option is Yoroi, a light wallet developed by Emurgo, which is the commercial arm of Cardano.
Yoroi can be accessed on both web and mobile platforms, offering convenient features such as staking, delegation, and native token support. Notably, Yoroi sets itself apart by not requiring users to download the entire blockchain.
Other Developments In The Cardano Ecosystem
Eternl introduced a new feature in December 2022. This feature allows users to swap Cardano native tokens within the wallet conveniently. As a result, users can easily engage in token trading on its network without the need to exit their wallets.
However, there is one token that remains unswappable for users in the foreseeable future: USDA. Emurgo, in collaboration with a regulated US-based financial services company, had plans to introduce this stablecoin pegged to the US dollar.
In 2022, Emurgo made an official announcement about their ongoing efforts to develop USDA. The coin would be supported by actual reserves of US dollars and subjected to regular audits.
Emurgo had initially planned to launch the Universal Sustainable Development Assistance (USDA) in early 2023. However, recent revelations indicate that the launch was postponed due to regulatory uncertainties.
Although Emurgo successfully completed the technical development of USDA, it encountered challenges in obtaining approval from regulators and stakeholders.
Notably, Cardano recently launched its first light wallet platform called Lace, developed by IOHK, the parent company of Cardano. Lace is a secure self-custody wallet that provides fast and reliable access to its features.
With Eternl v1.11.0 and Lace 1.0, Cardano users have more options to choose from when it comes to light wallets. However, they will have to wait longer for USDA, the first stablecoin on Cardano, which could boost the utility and liquidity of the network.