Cardano Foundation conveyed information that Cardano’s cryptocurrency ADA is now supported by Ledger, a provider of infrastructure and security solutions for cryptocurrencies. EMURGO, the official commercial arm of Cardano made the announcement on 27 March.
Cardano commenced by stating that the very popular hardware wallet Ledger Nano S is now compatible with ADA. Users would be able to protect their private keys through Ledger’s wallets, giving them access to ADA. The Ledger hardware wallet works with EMURGO-developed Yoroi wallet.
EMURGO’s Chief Technology Officer, Nicolas Arqueros, cited –
“I am delighted at this integration finally being released to the public. This is an event that many people have been looking forward to for the past year. I am especially thrilled to see so many teams come together and cooperate on what really is groundbreaking news in the industry, and foreshadow many more exciting commercial developments for Cardano in 2019.”
Cardano conveyed that the initiative shaped up through funding the development of the Cardano Ledger app and associated software libraries. Cardano expressed that the work also benefited from the support of development partners like Vacuum Labs and IOHK. Cardano acknowledged the hard effort of these teams to integrate the Yoroi wallet.
Cardano expressed that EMURGO drives the adoption of Cardano and adds value to ADA owners. EMURGO builds, invests and advises projects that use Cardano’s decentralized blockchain ecosystem. The cryptocurrency platform noted that through this integration with an industry leader like Ledger, it represents the right step to foster support.
Cardano touched upon the stand of Ledger in the market. Ledger has sold more than a million hardware wallets globally and has recently received the CSPN certification. This makes it the first and only certified hardware wallet. Cardano emphasized the importance of hardware wallets noting that till last year an estimated 850 million U.S. dollars were stolen from exchanges.
Cardano further added about the vulnerability of storing private keys in other types of cryptocurrency wallets, making them prone to hacking events. In contrast, storing the private keys on a hardware wallet like Ledger provides users full control of their digital coins. Users do not have to bank on third parties to hold the keys.
Last month, Cardano Foundation opened up a dialogue about blockchain implementation in the World Economic Forum held in Davos. Cardano Foundation was able to engage with regulators, heads of industry and blockchain leaders.
Cardano concluded by capturing Eric Larchevêque’s note, who is the CEO of Ledger. Eric mentioned that the integration with Cardano was something the Ledger community has been looking forward to a long time. ADA investors were also promised world-class security.