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In 2018, we at Vacuumlabs, as big fans and holders of Cardano cryptocurrency, have decided to help the Cardano ecosystem by developing a light, secure multi-platform wallet that users can access easily with a web-browser without the need to download anything.
Cardano is a decentralised public blockchain and cryptocurrency project, and it’s entirely open source. It runs the blockchain for the ADA cryptocurrency. Daedalus is a cryptocurrency wallet that holds Ada and allows transfers to other wallet addresses.
AdaLite is our internal project. Our inspiration for this project was a favourite Ethereum web-based wallet MyEtherWallet. We code-named the project CardanoLite but later renamed it to AdaLite to once we launched for the public audience. Our goal was to develop a secure and lightweight wallet to store one of the 10 largest cryptocurrencies and to address the performance limitations of the official Daedalus wallet caused by the size of its dependencies (and therefore attack vectors). With AdaLite, we’ve successfully eliminated the need to download and synchronise the entire blockchain.
Together with Trezor we provide the Cardano community with a new secure way to manage their ADA cryptocurrency. This way, the user always stores their private key on the Trezor hardware wallet. It isn’t necessary for the user to trust us when accessing their wallet through AdaLite website. It creates a whole new level of security for ADA holders.