Ledger, a provider of hardware wallets, has announced the adoption of 100 tokens on the Cardano blockchain. The transfer highlights Ledgers’ expansion in assisting ADA consumers; the tokens will be accessible via the Ledger Dwell application. Consequently, leveraging the Ledger Nano machine’s safety mechanism.
Several notable tokens include ADAX, DRIP, DANA, and CLAP. Customers of Cardano can now store their tokens in Ledger-provided hardware wallets. Prior to implementing tokens, Ledger implemented a screening method, as previously disclosed. The ledger revealed that the tokens were chosen based on their transaction number. The agency also disproved the claim that the selection procedure is mostly based on market capitalisation.
The agency determined that the selection procedure is devoid of sentimentality. In addition, Ledger disclosed that the tokens have several characteristics with the blockchain’s primary token, ADA. According to the agency, similarities include safety, speed, and relatively inexpensive prices. However, ADA is mostly deployed for reserve uses comparable to the expense of on-chain rates.
The Cardano ecosystem is home to over five million tokens; it provides options and innovation for token developers. Nonetheless, one of the most distinguishing characteristics of the Cardano ecosystem is its simplicity. It does not require builders to write strict codes and expensive contracts.
Ledger stated that other coins from throughout the ecosystem would soon be added to its list. In the interim, the Cardano ecosystem has not felt further impacted by the market situation. Despite the tragedy in the industry, the number of transactions on the blockchain has skyrocketed. The number of transactions on the blockchain increased by 5 percent in June compared to May. In the span of two months, the ecosystem logged over 44,8 million distinct events.
In addition, the number of ADA addresses soared to 3.42 million. The overall accomplishment also resulted in a substantial increase in blockchain assets. Approximately 5,4 million Native properties exist on the Cardano blockchain. In the previous twenty-four hours, $1,244,569,843.64 worth of ADA was traded at a price of $0.5479.
The most recent acceptance of additional Cardano-based currencies occurred several months after the company launched Cardano support to the Android version of Ledger Dwell. Ledger provides a variety of hardware wallets, such as the Ledger Nano X, Ledger Nano S, and Ledger Nano S Plus.
As an unified digital security environment, Ledger has changed the manner of cryptocurrency storage. The agency offers crypto enthusiasts security units to protect their property. Using its “hardware” wallets, cryptocurrency holders can offline store their assets on chips and small devices.
