Brave Wallet Expands Its Cryptocurrency Support to Include Cardano's ADA Token

The latest development comes hot on the heels of Cardano's partnership with Brave Software through Input|Output (IO).

The official cryptocurrency wallet of the privacy-first browser, Brave, has announced support for Cardano (ADA) tokens.

Announced on May 12, the update saw the Brave multi-chain wallet gain compatibility with the ADA token. It also opens the platform to other Cardano assets or tokens minted within the chain, such as Snek, World Mobile Token, Sugar Bush, Fluid Tokens, Revuto, and more.

Boost in Brave Wallet's Features

According to Brendan Eich, CEO and co-founder of Brave and the Basic Attention Token (BAT), the partnership with Cardano highlights their company's commitment to building a Web3 that maximizes interoperability for the benefit of users. In addition, he stated that the integration offers users better tools to engage with decentralized ecosystems.

Besides the boost in accessibility and flexibility brought about by the multi-chain infrastructure, he claimed the new collaboration enhances security, governance participation, and user experience.

Cardano and Brave Wallet's Partnership is a 'Natural Fit'

For Charles Hoskinson, CEO of Input|Output (IO), the company behind the Cardano blockchain, the matchup is a "natural fit." He explained that the partners' vision aligns with their goal of making Web3 more secure, accessible, and “user-respecting.”

Moreover, Hoskinson highlighted that the move paves the way for a new blockchain standard that truly empowers individuals, protects their privacy, and allows them to actively steer the direction of Cardano and Brave Wallet's ecosystems. The partners believe that their progress opens up more possibilities for innovation that would soon trickle down to the ZK (zero knowledge)-infused Midnight side-chain.

Cardano's $225M Budget Proposal

In related news, Cardano recently proposed allocating $275 million worth of its funds to finance developments within its ecosystem. People's reactions were mixed about the prospect. Some agreed, but others, like the pseudonymous crypto personality Cardano Whale, opposed the measure. In fact, the popular crypto personality stated that he voted against it.

The Cardano supporter considers the proposition to be wasteful and unnecessary. Likewise, he warned that the approval of the proposal would spell inflation, which could eventually dilute ADA's price. Its poor implementation could also open Cardano to risks and fraudulent activities.

Proponents of the proposal dispelled the Cardano advocate's arguments. Some suggested that proper management procedures could cushion the ensuing sell pressure in the long run.

Furthermore, Hoskinson asserted that the chain is in danger of falling behind if its community is unwilling to embrace calculated risks or "make some bigger bets."