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 features over five million cryptocurrencies. The network helps developers by letting them create and share native cryptocurrencies without needing custom code or expensive smart contracts. Ledger, the leading hardware wallet provider in the crypto world, announced that the Cardano network will add more native tokens soon.
The company stated that these 100 native tokens are now available on the Ledger application. They mentioned that the Cardano ecosystem includes more Cardano tokens, but they chose to start by supporting these 100 coins first. This new listing follows the company’s announcement a month ago that it would fully support the Cardano network, enabling users to manage and transact ADA using 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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