Ledger, a leading digital asset hardware wallet provider, has expanded its support toward the Cardano blockchain. The wallet provider will allow users to have custody of 100 native Cardano tokens on the Ledger Live application while leveraging the security of Ledger Nano.
Ledger adds support for 100 Cardano native tokens
Cardano native tokens are those created on the Cardano blockchain. These assets have similar features to ADA, and they benefit from the features provided by Cardano. The main difference is that ADA is the primary cryptocurrency on the Cardano network and has special functions such as settling transaction fees.
The announcement added that the newly added cryptocurrencies on Ledger include ADA, CLAP, DANA, DRIP, and FIRE. The Ledger wallet said that the tokens were chosen because of the number of transactions finalized within a period, not market capitalization.
The Cardano ecosystem has more than five million cryptocurrencies. The network supports developers and allows them to create and distribute native cryptocurrencies without noting the custom code or costly smart contracts. Ledger, the most prominent hardware mallet provider in the crypto space, said that the Cardano network would list more native tokens in the future.
The company added that these 100 native tokens were now live on the Ledger application. The company added that the Cardano ecosystem comprised more Cardano tokens, but it had started by supporting these 100 coins first. The new listing comes a month after the company announced full support for the Cardano network, allowing users to transact and manage ADA through Ledger Live.
Developments within the Cardano blockchain
The Cardano network has seen notable growth in on-chain activity despite the recent crypto bear market. Last month, on-chain transactions on the Cardano network reached a record high of 44.8 million, which is over 5% higher than the total reported in May.
The blockchain also saw an increase in the native ADA assets and addresses. The figures for these reached 5.4 million and 3.42 million respectively. On the other hand, Cardano recently postponed the eagerly awaited Vasil hard fork upgrade. It is the second time that the upgrade has been delayed.
The new date for this upgrade is yet to be announced. However, the Technical Manager at Input Output Global (IOG) said that developers on the project were testing and fixing to ensure everything was in place after the upgrade was released. The Vasil upgrade had triggered more people to buy Cardano as it would boost the network’s scalability.
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This article was written for Business 2 Community by Ali Raza.
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