Ledger Live App users may now send, receive, and transfer 100 Cardano native tokens.
Ledger, a leading supplier of hardware wallets, has increased its support for the Cardano ecosystem, enabling users to manage up to 100 native tokens on their Ledger Live application while using the security of the Ledger Nano.
Cardano native tokens are, as their name indicates, assets developed on the Cardano network. In most respects, these assets act similarly to ADA and benefit from the network’s capabilities. However, ADA is Cardano’s primary currency for particular reasons, such as paying transaction fees.
Among the newly added cryptocurrencies, according to the release, are ADAX, DANA, DRIP, FIRE, and CLAP. According to Ledger, the coins were not chosen based on their market size, but rather on the number of transactions conducted over a certain time frame.
Over 5 million tokens exist inside the Cardano ecosystem. The network enables developers to generate and distribute native tokens without having to write costly bespoke code or smart contracts. The producer of hardware wallets mentioned that other Cardano native coins might be added in the future.
“One hundred native Cardano coins have now been added to your Ledger Live app… There are many more Cardano coins, but for the time being, we have opted to support just these 100 tokens,” the business said.
The new listing comes less than a month after Ledger announced full support for Cardano, enabling users to send, receive, and manage ADA on Ledger Live.
Despite the recent market collapse, on-chain activity in the Cardano ecosystem has increased significantly. In June, the number of on-chain transactions on Cardano hit a new high of 44.8 million, surpassing the previous record set in May by more than 5 percent. The number of native assets and ADA addresses on the blockchain increased to 5.4 million and 3.42 million, respectively.