- Cardano’s ADA gets integrated with Ledger Nano S
- Storing of private keys on Ledger to give ADA’s investors security and peace of mind
- Cardano Foundation, Vacuum Labs, and IOHK’s development team support integration of Yoroi wallet on Ledger
On March 27, EMURGO, the commercial arm of Cardano announced the integration of ADA with Ledger in order to give ADA’s investors an enhanced level of security and peace of mind while storing their private keys.
Cardano’s ADA is Successfully Integrated with Ledger Nano S
Per the report, Cardano’s ADA has been successfully integrated with Ledger Nano S which will allow holders of ADA to store and access their private keys on the hardware wallet.
According to the company, the aim is to give investors high-level security and peace of mind while they store their digital currency. As such, it takes away the need to leave their money on exchanges or store private keys on smartphones and computers.
While throwing more light on the development, Cardano revealed that its Yorio wallet which was developed by EMURGO is also compatible with the Ledger hardware wallet.
Cardano Foundation, Vacuum Labs, and IOHK’s development team are some names in the industry which were listed as benefactors that have helped in the successful integration of Yoroi wallet on Ledger Nano S.
Ledger, first hardware wallet to receive ‘oldschool’ certification
The Ledger Nano S, on the other hand, is reportedly the first certified hardware wallet based on its recent CSPN (Certification de Sécurité de Premier Niveau) certification which was issued by ANSSI, the French cybersecurity agency. Its developer has also sold about 1.5 million wallets to users across the globe and there are expectations of a lot more in the near future.
The latter was attributed to the prevalent nature of hacks on exchanges in 2018 which led to the loss of $850 million worth of cryptocurrencies on these platforms.
In the same vein, it was noted that the essence of launching hardware wallets is to allow cryptocurrency investors to safely store their private keys. Eric Larchevêque, CEO of Ledger said:
“We are constantly working to respond to the needs of our customers, so we’re thrilled to officially welcome Cardano to the Ledger platform, offering ADA investors world class security for their crypto assets.”
These aside, a lot of news has revolved around Cardano’s ADA of recent and an instance of this, is the launch of the cryptocurrency alongside Ripple’s XRP and Litecoin on January 7.