Hoskinson Announced New Hardware Wallet Features For Cardano

Charles Hoskinson announced the new hardware wallet features and staking for Cardano which will have the function of “one-to-many” delegation, allowing owners to delegate their tokens to multiple stake pools as we are about to find out in the Cardano ADA news today.

In order to boost the security of the stake pool operators, Hoskinson announced the development of two new features for Trezor and Ledger. In the new blackboard video, Charles Hoskinson informed me that IOHK will introduce the functions of the new delegation method and delegation portfolios. The inventor of Cardano already presented both ideas a week ago explaining that “one-to-many” delegation allowing ADA holders to delegate the tokens to several stake pools representing different ideas with the wallet.

As Hoskinson explained further, the portfolios open up the possibility of playlists for stake pool operators, and these are controlled by the user and the community:

“What you can do is, you can select your favourite ones and the ratios […]. When you do that, it creates a portfolio and our hope is to encapsulate that in something like a JSON file or some format like that. It basically just has these preferences of pools to amounts, […]. So you can export it. So what that means is that users can create their own basically playlist, portfolios and share them with the broader community.”

Here is the long promised lecture on securing your wallet recovery phrase for most cryptocurrencies. It's an hour and a half long and covers everything from security mindset to pgp https://t.co/er0JWsaoOY I hope you enjoy it @Ledger @Trezor @LastPass @Yubico @SGgrc @schneierblog

— Charles Hoskinson (@IOHK_Charles) August 5, 2020

According to the IOHK founder, the portfolios could be organized by different themes and could even contain only charity stake pools or smaller stake pools or they could even be geographically oriented and contain Japanese or only African stake pools. Smaller stake pools in particular will benefit the function and decentralization of the network that will be promoted. The technical implementation of the portfolio will not take place in the Daedalus wallet but in Atlast where the users can upload their lists and share them with other users and curate them:

“We have a great product Atlas that is coming out soon. It’s kind of our next generation explorer and has a lot of really cool things and we gonna create in Atlas a portfolio explorer. So in addition to being able to create your own list, your own custom percentages and so forth, as a feature in Daedalus you will be able to upload those to Atlas at some point. And then other people see them and share them.”