The Daedalus wallet is a software wallet backed by Charles Hoskinson’s company, IOHK – a company that works on the development of the Cadano (ADA) blockchain. It is an open source wallet available on Linux, Mac and Windows. It will allow you to both buy, hold and sell cryptocurrencies on the Cardano blockchain. This wallet is only available in desktop version.
Daedalus is a wallet said “fullnode”, as it downloads a complete copy of the Cardano blockchain.
The use of this wallet will require the following minimum configuration:
- Operating system :
- Windows 8.1, Windows 10 (only Windows 64-bit is supported);
- MacOS 10.13, MacOS 10.14, MacOS 10.15, MacOS 11.1, MacOS 11.2;
- Linux OS;
- Ubuntu 18.04 LTS, Ubuntu 20.04 LTS;
- Fedora 28;
- Intended for all Linux distributions.
- Recommended configuration:
- 64-bit dual-core processor;
- 16 GB of RAM;
- 25 GB of free memory;
- Broadband internet connection.
Link to official website: https://daedaluswallet.io/en/
Once your wallet is installed, you will have the choice between:
- Create a wallet;
- Use a hardware wallet;
- Restore a wallet using a restore phrase (12 or 24 word phrase);
- Import a wallet from a later version of the wallet.
For the creation of a wallet, you will be asked to fill in a form in which you must indicate the wallet name and one password.
Once you’re done, just click “Create Shelley Wallet”.
A page will open telling you that the wallet will provide a 24 word list that you will need to write on a piece of paper. You are advised not to store your password digitally (on a photo or in a notepad, for example).
Click on ” Keep on going “.
You will then be asked to write down your private key.
Next, you will be asked to confirm that you have noted down your private key.
All you have to do is confirm.
You will be asked to copy your private key in the wallet to be sure that you have not made a mistake, noting the recovery phrase.
When you’re done, all you have to do is click ” Keep on going “.
The software will ask you to confirm that you have understood the basic security measures of a wallet.
Click on “Confirm” in order to finalize the creation of your wallet.
From there, your wallet will start its synchronization with the Cardano blockchain. The process may take a while depending on your computer configuration.
Presentation of the Daedalus Wallet
Once your wallet is synchronized to the blockchain, you should arrive on this page.
The Daedalus wallet is broken down into 4 main parts:
- The part dedicated to your wallet ;
- The part dedicated to delegation of your ADA tokens ;
- The part dedicated to governance votes ;
- The settings of the wallet.
Warning ! At the time of writing this guide, it was only possible toto send, of to receive and of store only ADAs.
Your wallet is itself broken down into 6 sub-parts:
“Summary” shows you different information, such as:
- The latest transactions;
- Your ADA balance available on your wallet;
- The number of current transactions;
- The number of transactions made;
- The price at which ADA is traded;
- The dollar value of your portfolio.
Allows you to send cryptocurrency to a Cardano address.
Allows you to choose from one of the many addresses assigned to you where you would like to receive your funds.
Allows you to monitor all your transactions. For information, a transaction cost ~1 ADA.
During the test, the ADAs available on the wallet were not indicated in this section. It may be a bug on our side. Anyway, this part doesn’t seem to be active yet, because only ADA tokens are compatible with the Daedalus Wallet.
This part gives you information about the “epochs” and when your next delegation will be taken into account.
Stake Pool allows you to choose a staking pool where to delegate your ADAs. You can use the slider to choose the number of ADAs you want to deposit. This will allow you to find a pool suited to your needs.
You just have to choose the pool you want.
Click on “Delegate to this pool”.
the minimum necessary to delegate your ADA is of 10 tokens.
This section allows you to track the rewards you have obtained by delegating your tokens to a validator.
The voting part encourages you to download the application Catalyst Voting, available only on smartphone (iOS and Android).
This section requires the use of the Catalyst Voting app to participate in votes. You can find the application by clicking on the link that leads to the Google Play Store.
Or by clicking on the link that takes you to the AppStore.
Registration for the voting process requires a minimum of 500 ADA to be able to participate.
The settings part, on the other hand, allows you to configure your wallet.
Among other things, you can:
- Choose the language (only theEnglish and the Japanese are available) ;
- Choose which currency or cryptocurrency you want to use for convert the value of your balance;
- Change the theme of the wallet.
In conclusion, this wallet is above all intended for confirmed users of Cardano and very involved in this ecosystem, because the software is only available on a computer and will ask you to have access to it to interact with it. It requires having an acceptable configuration so that you don’t find yourself having to synchronize the blockchain for 2-3 days in a row without shutting down the computer. The absence of other cryptocurrencies compatible with the wallet is regrettable. Opening and closing the wallet is sometimes a bit long. And the wallet does not allow you to interact with DeFi protocols, such as SundaeSwap.
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