Ledger Live Adds Support for Tezos and Adds Features for Hardware Wallet

Must Read

Make Sure You Trade Crypto In The Weeks To Come

Global finance has seen some massive shifts caused by the worldwide coronavirus pandemic, COVID-19. Despite all of this...

Bitcoin (BTC) Prices Priming Up To Fall Again, A Major Bull Trap Is Emerging

Bitcoin prices might fall against the market odds in upcoming days. Bitcoin already acquired the flat trend and...

Messari Analyzed The Impact Of The Percentage Of Total Tokens Staked Over Price

Over the last few years, staking has been a popular trend in the digital currency market. With the...
harsha
Harsha Puvvala
Harsha puvvala is a writer for Thecoinrepublic. He is a bachelor of technology student at Jawaharlal Technological University Vizianagaram. He is interested in digital currencies especially blockchain, ethereum. He hopes to conduct research on these digital currencies for financial asset development.

Ledger Live Adds Support for Tezos and Adds Features for Hardware Wallet

  • Ledger CEO Pascal Gauthier told Coin-telegraph that “Ledger aims to combine security with seamless user experience.
  • XTZ creates an extra layer of security for token its holders.
  • Gauthier said that storing XTZ on ledger hardware wallet later providing users with a platform of stake Tezos creates a much more secure solution.

Ledger live is a software solution that allows ledger users the ability to manage their digital assets through smartphone or computer and lets users check their cryptocurrency balance, send and receive tokens on the other side maintaining control of private keys.

Advertisement

Recently, Ledger, the hardware wallet manufacturer has announced the latest version of its Ledger Live application, adding support for Tezos and Tezos staking. Ledger CEO Pascal Gauthier told Coin-telegraph that “Ledger aims to combine security with seamless user experience.

The announcement with Tezos is exactly part of this mission and makes it easy to use crypto, while hardware wallets automatically provide good security. Ledger live users can import accounts of Tezos, stake XTZ and earn passive rewards.”

XTZ creates an extra layer of security for token its holders. It is now enough that ledger lets users grow their digital assets on their own through staking, which was one of the ways of the user to earn passive income.

Annotation 2019-12-12 012156
Source: cointelegraph.com

 

Tezos aims to help token holders work like a team to make decisions that will improve protocol over a period which in turn gives rewards users for contributing to network security ad known as staking.

Although staking Tezos is one of the essential processes for maintaining the network, this is typically available to users through significant cryptocurrency exchanges like Binance and Coinbase. According to Gauthier, this has been problematic due to the level of security on these exchanges.

Gauthier said that storing XTZ on ledger hardware wallet later providing users with a platform of stake Tezos creates a much more secure solution. He also mentioned that the cryptocurrency industry is heading towards a point where hardware capabilities mix with software features. Gauthier noted that they expect to bring more prominent features via software to the users.

Since Tezos is a PoS model, users can either participate b staking their tokens to those who can stake for them. To stake Tezos, the users must at least have 8,000 XTZ tokens. However, users can take responsibility of their tokens to a delegation service.

Annotation 2019-12-12 012342
Source: cointelegraph.com

 

Ledger, lets users choose who they want to delegate their tokens without applying additional fees.

Hot News

Make Sure You Trade Crypto In The Weeks To Come

Global finance has seen some massive shifts caused by the worldwide coronavirus pandemic, COVID-19. Despite all of this current volatility, analysts do believe...

Bitcoin (BTC) Prices Priming Up To Fall Again, A Major Bull Trap Is Emerging

Bitcoin prices might fall against the market odds in upcoming days. Bitcoin already acquired the flat trend and start facing resistance from the...

Messari Analyzed The Impact Of The Percentage Of Total Tokens Staked Over Price

Over the last few years, staking has been a popular trend in the digital currency market. With the launch of the aristocrats, Cosmos...

Bitcoin Price Analysis: BTC Price Crosses $6800 After Long Consolidation Period

Bitcoin price has finally crossed the price mark of $6800 indicating bulls are marching for $7k. Bitcoin's current price now is at the...

EOS Nation Partnered With Bancor To Launch A New DeFi  Platform xNation

EOS Nation partnered with Bancor to launch a new platform called xNation. With the help of this platform, the user can introduce and...

Ethereum Classic (ETC) Facing Variations Above The Crucial Level of $5.05

ETC is in negative momentum and it can drop down below price level of $5.05. ETC/BCH pair is suffering a major loss of...

Partners

Bitcoin (BTC) Prices Priming Up To Fall Again, A Major Bull Trap Is Emerging

Bitcoin prices might fall against the market odds in upcoming days. Bitcoin already acquired the flat trend and start facing resistance from the...

Messari Analyzed The Impact Of The Percentage Of Total Tokens Staked Over Price

Over the last few years, staking has been a popular trend in the digital currency market. With the launch of the aristocrats, Cosmos...

Bitcoin Price Analysis: BTC Price Crosses $6800 After Long Consolidation Period

Bitcoin price has finally crossed the price mark of $6800 indicating bulls are marching for $7k. Bitcoin's current price now is at the...

EOS Nation Partnered With Bancor To Launch A New DeFi  Platform xNation

EOS Nation partnered with Bancor to launch a new platform called xNation. With the help of this platform, the user can introduce and...

RELATED NEWS

Make Sure You Trade Crypto In The Weeks To...

Global finance has seen some massive shifts caused by the worldwide coronavirus pandemic,...

Bitcoin (BTC) Prices Priming Up To Fall Again, A...

Bitcoin prices might fall against the market odds in upcoming days. Bitcoin already...

Messari Analyzed The Impact Of The Percentage Of Total...

Over the last few years, staking has been a popular trend in the...