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Will Cardano [ADA] have paper wallets soon? IOHK CEO gives us a hint about the update

Sthuthie Murthy



Will Cardano [ADA] have paper wallets soon? IOHK CEO gives us a hint
Source: Pixabay

Cardano [ADA] is all set for a new upgrade by April end. According to the latest news, Cardano update 1.2 is scheduled to release by mid-April with better performance and bug fixes.

Charles Hoskinson, founder of ADA tweeted:

Charles Hoskinson's tweet

Charles Hoskinson’s tweet

Richard Smith, a market enthusiast said:

“Cost is what you pay and value is what you get. Weeeeee! I am excited about this big bad upgrade.”

Cardano [ADA] is currently trading at $0.16 approximately, facing an 8.73% decline in the 24 hours. The market cap is at $4.3 billion placing it 7th in the market.

Chandler Henry tweeted:

“Hello Charles, any news on the integration with the Ledger Nano wallet? We all appreciate you and your team’s tireless devotion to ensure that progress is made in an efficient and timely manner. The world is watching. “

Charles himself replied to this:

“Working hard on it, trying to get some more foundational things resolved.”

As Charles declared, Cardano might be getting paper wallets very soon following the upgrade.

What is a paper wallet?

A document that contains all the necessary data to generate multiple numbers of Bitcoin private keys to form a wallet of keys is a paper wallet. These were listed in the Shelley update earlier which was expected around Q2 2018.

The team or Charles did not reveal any further details regarding the same and users will have to stay tuned to find out more. By creating this, one can store Bitcoin tokens on a physical medium to be gifted or leave as a tip. They can also be used as physical tokens.

Marino, a Reddit user commented on the forum addressing this:

“Honestly, I don’t see a problem of running the wallet software on an offline device, getting a private/public key pair and just simply not syncing that wallet. Sending funds to that public key from Binance should work, shouldn’t it? “

Patrick also commented on the forum saying:

“For me the wallet did not run offline when I tried it. I just sat and tried to synchronize for hours and hours. So I think you need to be online to get a private/public key pair from the wallet. Please correct me if I’m wrong.”

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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.