As the Avalanche (AVAX) ecosystem is about to start its expansion, Ava Labs presents the Core wallet. It is designed to provide a user experience optimized for the arrival of the Subnets that will compose the network.
Core, the new wallet dedicated to the Avalanche ecosystem
Ava Labs, the company that develops the Avalanche blockchain (AVAX), is about to release a new wallet, specially designed for browsing on its network. Avalanche is not just a blockchain. If the network is still in its infancy, the Subnets will eventually give rise to a set of interconnected blockchains, each with its own specificity.
While until now, digital wallets such as 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 considerably the speed of the network. That’s why a wallet named Core, specifically designed for the Avalanche ecosystem, was created.
According to Nick Mussallem, product manager at Ava Labs, Core will not just be a digital wallet, but a full-fledged operating system specifically designed to facilitate ease of use and mass adoption. According to early reports, we already know that it will offer the following features:
- Compatibility with a Ledger hardware wallet;
- Visual display of non-fungible tokens (NFT);
- Token swap with Paraswap integration;
- AVAX purchase with MoonPay integration;
- An address book;
- The ability to derive a private key to create multiple public addresses from it.
If most of the competing wallets also support several of the mentioned features, the integration of Paraswap may be a very interesting plus, but we’ll have to wait for more information.
A two-step launch
The Core wallet will come in two versions, one as a web browser and the other as a smartphone app. Since the web version was announced for the end of the month, we can logically expect it to be launched between now and next week. If at least the deadlines are respected.
As for the application, it is expected at the beginning of the second quarter, that is to say potentially during April, but this remains speculative.
Beware of the security dimension, if the smartphone application does not support Ledger (we don’t know anything about it yet), we strongly recommend that you limit yourself to the web version, but that’s your choice.
According to DefiLlama, Avalanche ranks as the fourth largest network in terms of total value locked into DeFi protocols, with $10.6 billion.
The announcement of the Core wallet comes as the Avalanche ecosystem continues to grow, with a lot of room for improvement compared to Ethereum (ETH). Indeed, the latter records more than $120 billion of assets locked in DeFi applications and is still far ahead.
