Ledger Adds Support For ALGO And Algorand Standard Assets In Ledger Live
Ledger Adds Support For ALGO And Algorand Standard Assets In Ledger Live
September 16, 2020
Ledger Adds Support For ALGO And Algorand Standard Assets In Ledger Live
Ledger Adds Support For ALGO And Algorand Standard Assets In Ledger Live
September 16, 2020

Ledger, the famous popular hardware wallet company, has added support for Algorands ALGO token and Algorand Standard Assets (ASA) to the list of wallet-compatible assets available on Ledger Live, its desktop app, allowing holders to store and stake the asset.

It has been reported that the addition means storage compatibility for tokens built on Algorand’s blockchain, known as Algorand Standard Assets (ASA). 

Pascal Gauthier, the CEO of Ledger, explained:

“Algorand’s integration is an important step to widen the array of services offered on Ledger Live in our constant pursuit to provide users with the best crypto experience possible. The integration with Ledger Live will provide users with additional opportunities to earn passive income, ensuring the highest level of control and flexibility.”

The assets built using proof-of-stake technology mean holders can earn passive income by helping to provide consensus for the associated blockchain.

Rather than delegating funds to earn rewards (DPos), Algorand uses a unique, permissionless, pure proof-of-stake (PPoS) protocol that allows anyone to participate in the Algorand network proportionally to the amount of ALGOs they have in their wallets.

ALSO READ :  Delphi Digital Launches Venture Capital Fund On Emerging Crypto-Asset Projects

Algorand holders can now stake their ALGO coins passively while storing them on their Ledger wallet devices by interacting with their holdings as needed through the Ledger Live desktop interface.

“We are excited to further collaborate with Ledger as part of Algorand’s commitment to ensure the highest standard of crypto security. The Algorand ecosystem has experienced tremendous growth since the mainnet launch last year, and we are proud to work with Ledger, the industry-leading security company to provide ALGO holders more opportunities to participate in the network while ensuring security and transparency of the whole Algorand economy.”

– said Fangfang Chen, COO of Algorand

Also, the hardware wallet provider boasts staking and storage compatibility for Tron (TRX), Cosmos’ ATOM and Tezos (XTZ). Ledger has made a number of headlines in 2020, including a rough patch the company faced, which included a data breach and wallet vulnerability.

ALSO READ :  MasterCard To Allow Its Almost One Billion Users To Spend Cryptocurrencies At More 30 Than Million Merchants

Ledger Live now has increased the total amount of supported coins to 27 and more than 1500 tokens.

Source: Cointelegraph | Image: Ledger


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.