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Hardware Wallet Ledger Extends Support for 100 Cardano-Based Native Tokens

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VOC, Voice of Crypto, Cardano, ADA

Ledger is expanding its support for the Cardano ecosystem, allowing users to manage 100 native tokens on their Ledger Live app while leveraging the security of the Ledger Nano.

Ledger Expands Support for Cardano

The Cardano native tokens are assets built on the Cardano blockchain. ADA is the principal currency on Cardano used for special purposes, such as paying transaction fees. 

The new additions to the list of cryptocurrencies include ADAX, DANA DRIP, FIRE, and CLAP.

Ledger’s report notes that these tokens were not chosen based on their market capitalization but rather by the number of transactions performed over a given period.

Over five million tokens are present in the Cardano ecosystem. The network is a game changer for developers because it allows them to easily create and distribute native tokens without writing custom code or expensive smart contracts.

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The Cardano team has been hinting that they will be adding more native tokens to their platform in the future.

“100 native Cardano tokens just made their way to your Ledger Live app… There are many more Cardano tokens, but for now, we decided to support these 100 tokens first,” the company said.

However, it seems that Ledger is not done with Cardano just yet.  Last month, they added full support for this crypto, and now users can send or receive ADA directly from their hardware wallet without any grief.

Cardano Sees Network Growth

The Cardano ecosystem has seen significant growth in on-chain activity despite the market downturn in recent months.

The number of on-chain transactions reached 44.8 million in June, more than 5% higher than the total recorded during May. The blockchain also saw a spike in native assets and ADA addresses, reaching 5.4 million and 3.42 million, respectively.

Cardano’s Vasil Hard Fork Postponed

Cardano will still not see its much-anticipated Vasil update on the mainnet, as the developers have decided to delay its release again with the intention of further testing.

Cardano’s development lab, Input-Output (IOG), announced that the upgrade, which will be carried out via a hard fork, has been pushed back a few more weeks. IOG developers held a meeting on Thursday to discuss the fork’s timeline, highlighting the need for more testing before a mainnet release.

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During the call, Kevin Hammond, technical manager at IOG, explained that the delay is to ensure that all parties, including exchanges and API developers, are “prepared for it,” 

From where we are, it could be a few more weeks before we get to the actual Vasil hard fork. This is incredibly important. All users must be ready to proceed through the hard fork to ensure that the process is smooth for them and the end users of the Cardano blockchain.

Vasil’s Second Delay

Hammond added that testing was being done for ” inevitable issues,” and any issues were being fixed by the development team. “ What we are doing is concentrating on the authority of the evidence, doing it right and not rushing it,” he commented.

This is the second delay for the Vasil upgrade, which was initially expected to go live on the Cardano mainnet on June 29. The developers first delayed the release ahead of schedule due to seven bugs preventing Vasil from fully activating.

 

 

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Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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