Ledger, one of the leading manufacturers of hardware wallets, has increased support for the Cardano ecosystem by enabling users to redeem 100 of these, enabling users to redeem 100 of these native tokens in the Ledger Live app while using the security of Ledger Nano.
Cardano native tokens, as the name suggests, are assets created on the Cardano blockchain. These entities take advantage of their network’s capabilities and generally work similarly to ADA. In Cardano, ADA is the main currency used for certain tasks, such as paying transaction fees.
According to the announcement, newly added cryptocurrencies ADAX, DANA, DRIP, FIRE, and CLAP. Ledger noted that the tokens are not chosen based on their market value but the number of transactions executed over a given period.
This Cardano ecosystem contains over 5 million coins. The network enables developers to generate and distribute local coins without costly smart contracts or bespoke software. The hardware wallet maker has suggested that more Cardano tokens will eventually be featured.
“100 native Cardano tokens have entered your Ledger Live app… There are many more Cardano tokens, but for now, we have decided to support these 100 coins first,” the company said.
Despite the recent market crash, on-chain activity in the Cardano ecosystem has increased significantly.
More than that, 5% more transactions on the Cardano blockchain in June than in May, setting a record 44.8 million total.