Ledger hardware wallet supports 100 digital currencies based on Cardano…Details here
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Answer Ledger hardware wallet supports 100 digital currencies based on Cardano…Details here
Leading hardware wallet company Ledger has expanded its support for the Cardano ecosystem, allowing users to manage 100’s of Cardano-based coins and tokens on their Ledger Live app while taking advantage of Ledger Nano security.
Ledger is expanding towards Cardano:
Cardano-based cryptocurrencies behave like ADA in most ways and take advantage of network features.
However, ADA is the main currency in Cardano that is used for special purposes, such as payment of transaction fees.
According to advertiseLedger’s newly added cryptocurrency includes, among other cryptocurrencies:
ADAX, DANA, DRIP, FIRE, and CLAP.
Ledger pointed out that digital tokens based on Cardano were chosen not based on its market capitalization but rather by the number of transactions made during a given period.
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Currently, there are more than 5 million digital tokens based on Cardano.
The network allows developers to create and distribute digital tokens without writing custom code or expensive smart contracts.
The hardware wallet manufacturer has hinted that more digital tokens based on Cardano will be included in the future.
Meanwhile, the new menu comes just one month after Ledger added full support for Cardano, allowing users to send, receive and manage ADA directly from Ledger Live.
Cardano growth and flowering:
Despite the market downturn over the past few months, the Cardano ecosystem has seen significant growth in terms of network activity.
In June, transactions over the Cardano network reached a record high of 44.8 million, more than 5% more than the total recorded in May.
The blockchain network also saw a rise in digital assets and ADA addresses, reaching 5.4 million and 3.42 million respectively.
In previous articles on Arab Bitcoin, we mentioned Cardano’s postponement of Vasil’s long-awaited upgrade from Cardano for the second time in a row.
Although the new date for the upgrade is still unknown, Kevin Hammon, Technical Director of Input Output Global (IOG), stated:
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The developers of the project are still testing and fixing to ensure everything is in place when the upgrade is finally released.
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