Cardano founder will test the security of Lace wallet with $1M ADA

Charles Hoskinson announced that he will test the security of the new Cardano Wallet.

Lace is a new Cardano Wallet, which was developed by the Cardano developer team Input Output Hong Kong (IOHK) global. This wallet will allow access to multiple crypto networks-based crypto assets easily. And also wallet will allow to seamlessly connect everything in Web2 and Web3 to a single interface.

Charles Hoskinson, CEO of IOHK & founder of Cardano blockchain, appeared in a new YouTube video session to talk about the LastPass data breach.

Hoskinson said that it was extraordinary for him what happened with LastPass last week, where a third-party entity accessed the archive database of the LastPass & secured metadata including company names, end-user names, billing addresses, email addresses, telephone numbers, and IP addresses from which customers were accessing the LastPass service.

Hoskinson said that it was pretty dirty that happened with LastPass. Further, he talked about the security check of the Lace wallet and said that he will test the security level of the wallet himself. 

He said that he will use a million worth of ADA coins and further he will share a paper wallet encrypted with PGP & then will post publicly on Twitter.

Further, Cardano’s founder added:

“I’m very confident in those standards. Master passwords, even if they’re quite long, it’s just a dead standard, and it shouldn’t be done anymore.”

Hoskinson is himself a computer programmer and he was in the Ethereum project as a co-founder in the early phase. But he left the Ethereum project because he was not agree with other founders’ opinions on the future use of the Ethereum blockchain network. Later he launched Cardano blockchain as a commercial blockchain network, which is different from non-profit public blockchain network Ethereum. 

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