As the Avalanche ecosystem (AVAX) is about to start its expansion, Ava Labs introduces the Core wallet. This is designed to provide an optimized user experience for the arrival of the Subnets that will make up the network.
Core, the new wallet dedicated to the Avalanche ecosystem
Ava Labs , the company that develops the Avalanche blockchain (AVAX), is preparing to release a new wallet, specially designed for browsing its network. Avalanche is not just a blockchain. If the network is still in its infancy, Subnets will eventually give rise to a set of interconnected blockchains , each with its specificity.
While until now, digital wallets like MetaMask or Frame were sufficient to connect to the C-Chain, the blockchain compatible with the Ethereum Virtual Machine (EVM), this will no longer be the case when the network reaches maturity .
Indeed, Ava Labs would like each Subnet to be dedicated to a particular application. This would allow a better fluidity of the network, thus reducing the costs to a minimum and increasing the speed of it considerably. This is why a wallet called Core , specially designed for the Avalanche ecosystem, has been created:
According to Nick Mussallem, product manager at Ava Labs, Core will not be just a simple digital wallet, but a full-fledged operating system specially designed to facilitate ease of use and mass adoption. According to the first information, we already know that it will offer the following features:
- Compatibility with a Ledger hardware wallet;
- The display of visuals of non-fungible tokens (NFT);
- Token swap with Paraswap integration;
- The purchase of AVAX with the integration of MoonPay;
- An address book;
- The ability to derive a private key to create multiple public addresses from it.
If most competing wallets also support several of the features mentioned, the integration of Paraswap may be a very interesting plus , but we will have to wait for other information.
A two-step launch
The Core Wallet will come in two flavors, one as a web browser and the other as a smartphone app. Given that the web version was announced for the end of the month , so we can logically expect it to launch between today and next week. If at least the deadlines are respected.
The application, meanwhile, is scheduled for the beginning of the second quarter , potentially in April, but this remains speculative.
Be careful all the same with the security dimension, if the smartphone application does not support Ledger (we don’t know yet), we will strongly recommend that you limit yourself to the Web version, but that is only your responsibility.
According to the DefiLlama site, Avalanche ranks fourth in terms of total value locked in DeFi protocols, with $10.6 billion.
The announcement of the Core wallet comes in the continuity of the development of the Avalanche ecosystem which benefits from a large margin of progress compared to Ethereum (ETH). Indeed, it records over $120 billion in assets locked in DeFi applications and is still far ahead.
