Wallet address setup

Page is a WORK IN Progress

"Wallets" are really interfaces that allow you to access the Cardano network / blockchain and interact with it. One of the most common uses is to setup a wallet address to store your Ada and non-fungible tokens (NFT's) and performing transactions such as sending or receiving Ada.

Each wallet does basically the same thing but some have some extra bells and whistles. The big difference usually is whether a wallet is a full node or a lite wallet. IOHK has a nice page comparing the most popular full node and lite wallet.

The following wallets are that is supported by Cardano.

Desktop Wallet

  • Daedalus is a full node wallet

  • Made by IOHK

  • Requires you to download the whole blockchain (6-10 GB)

  • Validates all blocks and transactions for fully trustless and autonomous operation

  • Does require more resources to run

  • Key features (taken from IOHK):

    • Easy installation with one-click setup of bundled Cardano node

    • Locally stored wallets and encrypted private keys, not shared with third-party servers

    • Trustless operation with locally running full Cardano node which independently validates full transaction history of the blockchain

    • Supports Cardano network by participating in Cardano protocol

    • Wallet backup and restoration using mnemonics phrases

    • Support for staking coming with Shelley release

    • Complete autonomy without reliance on third-party servers and services

    • Paper wallet generator for offline storage of funds

Lite Wallets

  • Lite wallets don't require you to download the blockchain or run a node to validate blocks

  • Usually they run through a browser extension that connects you to a third party that is running a node

  • Made by Emurgo

  • Key features (taken from IOHK):

    • Instant initial setup

    • Locally stored wallets and encrypted private keys, not shared with third-party servers

    • No blockchain synchronization needed for quick and easy operation

    • Wallet backup and restoration using mnemonics phrases

    • Low system resource consumption, minimal usage of storage space and bandwidth

    • Support for staking coming with Shelley release

    • Paper wallet generator for offline storage of funds

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