Ledger Expanded Support For 100 Cardano Native Tokens

Ledger expanded support for 100 Cardano native tokens so the users can send, receive and transfer these tokens from their Ledger Live app so let’s have a closer look at today’s latest Cardano ADA news.

The leading hardware wallet provider Ledger expanded support for the Cardano ecosystem and allowed users to manage 100 of the native tokens on their Ledger Live app while still leveraging the security of the Nano wallet. As the name suggests, Cardano native tokens are assets that are built on the Cardano blockchain and these assets behave just like ADA and are able to benefit from the network’s features. ADA is however the main currency on Cardano used for special purposes like paying transaction fees.

According to the announcement, the newly added cryptos include ADAX, DRIP, FIRE, CLAP, and DANA. Ledger noted that the tokens were nto selected based on their market capitalization but by the number of transactions performed over a given period of time. There are more than5 a million tokens in the Cardano ecosystem and the network allows for developers to create and distribute native tokens without having to write custom codes or expensive smart contracts. The wallet manufacturer hinted that more Cardano native tokens will be listed in the future. The company said:

“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 new listing came a month after Ledger added full support for Cardano and allow users to send, manage and receive ADA from Ledger Live. Despite the market downturn in the past few months, the Cardano ecosystem saw huge growth in on-chain activity. On-chain transactions on Cardano hit a record of 44.8 million more than 5% higher than the ones recorded in May. The blockchain saw a spike in native assets and ADA addresses and reached 5.4 million and 3.42 million respectively.

In the meantime, the reports show that Cardano’s long-awaited Vasil hard Fork was postponed for the second time and the new date is still uknown but the Technical Manager of Input Output Global said that the proejct developers are still testing and fixing to ensure that everything is in place for the upgrade to go live. The Vasil Hard Fork is designed to increase network scalability and falls under the Basho ERa of the Cardano roadmap.