The Trezor Cryptocurrency Hardware Wallet Adds Support for Cardano Smart Contracts

0
32
Cardano

Trezor, a well-known cryptocurrency hardware wallet provider, has released a new upgrade that will support Cardano’s smart contract features.

According to a recent blog post, Cardano smart contract capability will now be supported on the company’s flagship device, the Trezor Model T.

Cardano lovers will need to update their Trezor firmware on the Model T device to version 1.11.1 before using the smart contract capabilities.

“This will allow Cardano users to securely interact with and sign transactions to smart contracts using keys held on their Trezor,” Trezor said in a statement.

Read also: 👉👉 Cardano is the most sound, secure, and scalable blockchain, according to the founder of Crypto Capital Ventures

Trezor recommends that Cardano users write down their seed recovery phrase before the upgrade since they will be requested to enter their keys after completing the process.

Although Trezor has updated two flagship devices, the Model T and Model One, Cardano’s smart contract will only work on the former.

“Cardano support on the Model T has been extended to now also include Plutus smart contracts for transactions from the Alonzo era onward,” the popular hardware wallet developer added.

Aside from enabling Cardano’s smart contract capability, the patch also includes several important security fixes as part of the company’s ongoing efforts to keep users safe.

The news comes less than a month after Trezor’s main competitor, Ledger, announced that the Cardano smart contract capability had been integrated into its Live App, giving users access to 

the service.

Read also: 👉👉 Whale Transactions in Cardano Reach 4-Month High as Large Players Take Advantage of the Dip to Buy More ADA

Smart Contracts on Cardano

The smart contract, which was launched in September 2021, was an important addition to Cardano’s ecosystem since it increased the utility of the blockchain’s native cryptocurrency, ADA.

Cardano has seen a surge in activity, with more developers rushing to the blockchain to take advantage of its speed and low transaction fees.

Despite the migration of developers to Cardano, Charles Hoskinson, CEO of Input Output Global (IOG), believes that following the Hydra Hard Fork, more developers will use the network.