A whole bunch of wallet makers together, the NAMI and the Typhon and the Exodus and the Flint and the Lace and Yoroi, and you have a representative sample of each of them kind of discuss what's important, what's not important. Then you create a certification standard as a CIP. Then once you have it, you can use the treasury, for example, to offer bounties and incentives for wallets to get certified.
The news of the hour is that one of our partners Emurgo earlier this morning went ahead and pushed an update to Yoroi and that update for the first time ever gives Cardano support for hardware wallet, so Trezor wallet.
Trezor came a little sooner because there was some great work that was done there by VacuumLabs and others, but Ledger is not too far behind. So given that we have support there, support on Ledger should probably come in the next month or two at the latest on Yoroi side.
So, we already have one pull request that was from, I think April to May of last year, where there was a pretty good design for multisig but we chose not to pursue it because we were in the process of rebuilding everything, now the major components have been reconstructed. We're going to go ahead and restart the multisig project, so right after we start seeing Ledger support and Trezor supports already now here with Yoroi, very short thereafter...
The other nice part about Yoroi is the development team keeps growing. We're going to start making contributions to it.
We were trying to figure out whether it made sense to keep maintaining the Icarus code base or to retire that and move our contributions to Yoroi but we're so impressed with what Sebastian Pabon and Nico and Emurgo have been doing that IOHK is going to start making code commits to Yoroi. So, we can hopefully double the size of that development team and we can very rapidly get wallet features out, but not just multisig and hardware support...
These are fun, but also features like a delegation center from Yoroi so you can stake your coins, right within the browser and other such things so that's going to be a nice open road map and that's going to be exciting.
So anyway, the good news it's not super significant, but it is a major milestone to repeat is the launch of Trezor support with Yoroi and what's so exciting about it to me, again, is this concept that it was done 100% without IOHK engineers, IOHK input it was just done by our partner.
There are some discussions about given how transmit our blockchain, given how our network stack works and given how Ouroboros works, what's the most optimal way of doing a light client but this is not insurmountable challenge, and the advantage would be that when you download that you just click it, it boots up very quickly, kind of like how Yoroi boots up quickly and then when the background if it's left on it will gradually upgrade itself to a full node, but it should not stop you from using the wallet.
We also have competition now, Yoroi is looking great and these guys are moving super fast and they're just doing wonderful work. The code quality is quite and we expect to see them making phenomenal progress as well.
Like the wallet backends that we see with Yoroi or people who run exchange nodes, the SL nodes and so they'll have a nice window of time to be able to upgrade there and also make sure they're interoperable with the new V1 API.
So happy New Year's guys. Thank you so much for all the patience and support, and if you're a Trezor user, check out Yoroi and very shortly thereafter, I hope that Ledger support is coming and then we can move on to the next big thing. Cheers everyone.
Will staking be possible on a mobile version of Yoroi from the Cardano effect? I have talked to Sebastian Pabon and Nico about this so we're having a summit about delegation and basically what the delegation spec is and that's summit invitation only for Cardano developers. So, we've invited Yoroi developers. IOHK coming as well. So, is the Rust team and the Haskell team and we'll see if we get the vacuumlabs guys there...
OK, so that's the basic concept. That's where we're at and that's some, it's 9th to 10th of January. So, my hope is on the back of that that we can get a strong commitment from Emurgo to guarantee that there will be support for delegation in the Yoroi interface. And I don't see any reason why that wouldn't happen.
5 or 6 weeks worth of engineering work is required starting in early January, and that work will, once done, should give us the ability to easily interact with Ledger and if that's the case, then Ledger support should come in short order, so the soonest you could expect it on the Daedalus side would be February, but we potentially might be able to get it out a little earlier on Yoroi side. Yoroi is also working on Trezor support as well, so you'll notice that once Icarus style addresses are supported by Daedalus, there's going to be another transition where we'd like to get people from the old nondeterministic addresses to the new Icarus addresses that because you'll have significantly faster recovery time for wallet restoration for the more the address size is about half the size...
So easier addresses to work with, faster recovery time, just overall better experience for people for the more those will be the addresses supported by the Ledger devices, not the old Daedalus style, not deterministic addresses. Furthermore, then the Icarus addresses and the Daedalus addresses will be interoperable with each other, so Yoroi and Daedalus should be able to restore from each other at some point.
Ledger is coming, we now have a great third-party partner for that. Yoroi is evolving at a great rate in fact I think Sebastian Pabon and Nico are going to have some great announcements here in a little bit and they're really doing a wonderful job of making Cardano easy to use and that’s really exciting.
For example, if you want to do a fast restoration under a deterministic HD wallet, if you have access to an explorer, you can do a restoration at a very fast pace, less than a minute in some cases. As we've seen with Yoroi, but that does mean you do potentially have to trust some third party...
Now the good news is that now that the foundation issues have been resolved and Emurgo has really started scaling up development with Yoroi, we've had a lot of discussions about bringing in a third-party firm, principally vacuumlabs, to work with both of us to rapidly accelerate Ledger support and get Ledger support first in Yoroi and then very shortly thereafter to Daedalus with either the next most immediate update or the following update...
Yoroi was recently just open source, so congratulations to Emurgo and we're pretty excited to hear about Ledger support and pretty excited to hear about Trezor support. Trezor just updated their side so, if you have a Trezor very soon Yoroi will support that and if you have a Ledger device very soon Yoroi will support that as well.
I believe Yoroi is also prioritizing multisig, so that's going to come soon.
What do you think will be the major impact of open sourcing Yoroi. I have a very firm belief that all wallets, unless there's a very good technical reason, must be open source if you are going to go to the community and say, put your money on this wallet the community has the right to see the source code, if anything, just to verify you haven't put a backdoor in to...
Steal people's money or you haven't biased it in some way where you can skim off the top. OK, so that's just a standard and it's a standard we've had since the very beginning. Satoshi didn't release some closed binaries of Bitcoin and say, trust me. The code was right out there, and people could see it read it. And that's how cryptography is done, and that's how good wallets are done so, it's incredibly important for Yoroi to be open source for people see the source code...
The whole point of the Icarus project was to be a reference point for people to fork that code and build their own products, whether that product be the what we've seen with Infinito, where they have now a mobile wallet or that product be what we've seen with Yoroi.
And so in a sense, that open source nature of that reference client is mission accomplished and great things have been done and if Yoroi is to be truly open source, our hope is people will fork that and create their own.
Ledger support will be coming soon, first with Yoroi, and then later on with Daedalus. Daedalus is evolving quite rapidly. v1.4 is just left the first round of QA and large scale regression testing is underway. Cardano testnet it's just about out. And many more good things to come soon.
We use a different elliptic curve ED25519, we also used, the way the software was written made Ledger interoperability a bit difficult. We got to the point where it's a firmware update and I think the first thing that's going to support Ledger is going to be the Icarus platform. So Yoroi and potentially Infinito and then eventually it'll work its way backward into Daedalus after we've decoupled the wallet, upgraded the wallet a little bit to support Icarus style addresses. So when Ledger very soon and thanks to Yoroi being out and thanks to Ledger having firmware update available.
When mobile wallet? Actually, that's a great question too. So, you know we chose Haskell and Haskell has just been a mixed bag. It's been great and it's been a nightmare at the same time and at some point I threw in the towel, I said OK, let's diversify development a little bit. So, we created a rust project called Prometheus and. And we ended up creating the Cardano Rust wallet, and the code is up on GitHub and the first product of that was Icarus, which gave us a Chrome extension, and now that's being built up by a Emurgo for Yoroi.
Now Emurgo is one of our partners and they've decided to fork Icarus and create a new product called Yoroi, and they're going to be making an announcement August 15th about that, and it should be launching as a test net sometime this month.
You'll be able to import your 12 keywords into Icarus or Yoroi.
You know Icarus is the reference client and Yoroi is a fork if it and you'll be able to recover your wallet there.
So Yoroi is basically one click install, you just go to the Chrome Web Store, you enter it in, you click install and then you have it, you just enter in your wallet that you already have or you create a new wallet and boom, you can start spending ADA.
Icarus or Yoroi to be able to interface with ADA.