LedgerTM signers and Ledger WalletTM now have access to extended support for the Tezos ecosystem. This support is built on the current Tezos Layer 1 integration and extends it to Etherlink. Additionally, Tezos’ EVM-compatible smart rollup is included in this support. Ledger signer integration, Ledger Wallet functionality, and planned native staking capabilities are all included in the integration, which offers complete support for Etherlink and the tez (XTZ) token throughout the whole Ledger ecosystem. Beginning in 2019, Ledger has been providing support for Tezos delegation. More than ten million tez (XTZ) have been delegated using Ledger Wallet in order to gain voting power.
Through the implementation of native staking, it is anticipated that the engagement of Ledger users will be further strengthened in the process of securing the Tezos network, while also opening up chances for further yield.
As a result of the announcement that was made today, users of Ledger will now be able to take use of Clear Signing for tez transfers on Etherlink and Ledger’s tried-and-true safe self-custody for their Etherlink-based tez (XTZ). Users of the network will now have the ability to send, receive, and manage their assets directly via the desktop and mobile apps of Ledger Wallet. This includes the ability to see their entire accounts, including their balances and transaction histories. Additionally, the integration offers swap capabilities by means of the Ledger Wallet feature.
Users will also have the ability to interact with the Etherlink DeFi ecosystem through the use of Ledger Wallet. They will also have access to established protocols such as Curve, Morpho, and Uniswap, as well as emerging asset platforms such as uranium.io. This will allow tokenized physical uranium and other innovative assets to be brought directly into self-custody wallets.
Staking is becoming an essential component of how users interact in blockchain networks, and as a result, there is a growing need for native staking that is both safe and held directly by the user. The goal of users is to interact with developing ecosystems without sacrificing their safety while doing so.
Extended Ledger support for Etherlink and native Tezos staking meets user need, bringing EVM compatibility and staking into a self-custody environment that users already trust. Governance and network security are essential pillars for Tezos users, and this support reflects user desire.
“Uncompromising security is an essential for users of Tezos and Etherlink, and this made enhanced support in the Ledger ecosystem a top priority. With hardware-enforced clear signing for every Tezos and Etherlink transaction, users can confidently interact with DeFi knowing their assets are protected by Ledger’s uncompromising security,” said Charles Guillemet, CTO at Ledger.
This coincides with the rapid expansion of Etherlink, which is occurring at a time when businesses are looking for alternatives to Ethereum’s exorbitant costs. Etherlink has been the preferred choice for DeFi applications that are concerned about cost since it offers confirmation times that are less than one second and transaction prices that are less than one cent. Institutions who are looking for safe ways to manage their digital asset portfolios will find signer support to be especially intriguing.
“This integration represents a significant step in making Tezos and Etherlink assets more accessible to users who prioritize security,” said Anthony Hayot, Head of DeFi Partnerships at Nomadic Labs. “With this Ledger integration, we’re ensuring that our ecosystem benefits from industry-leading hardware wallet protection while maintaining the seamless user experience that drives adoption.”
In the year 2024, Ledger will be celebrating its ten-year anniversary. The company is the global leader in providing digital asset protection for both individuals and businesses. More than eight million devices have been sold to customers in more than 165 countries and ten languages, as well as more than one hundred financial institutions and commercial brands. Ledger is that which provides connected devices and platforms.
Ledger is responsible for the protection of more than twenty percent of the world’s cryptocurrency assets.
The solution for digital assets that is secure by design is Ledger. Moreover, Ledger Donjon, the offensive security team that is considered to be the most globally acknowledged around the globe, is depended upon as an essential resource for the purpose of safeguarding the world of digital assets. Ledger’s security provides its community with peace of mind and uncompromising self-custody, which is especially important given that over 14 billion USD were stolen, defrauded, or mishandled in 2023 alone! Don’t buy “a hardware wallet.” Buy a LEDGERTM signer.
Tezos is an open-source and energy-efficient blockchain that was developed with the intention of empowering companies, developers, and institutions while also facilitating the transfer of wealth in a digital setting. The scalable deployment of decentralized applications is the primary focus of its design principles. Because it is one of the first blockchains to use Proof of Stake, Tezos is supported and appreciated all over the world due to its robust governance, the capacity to upgrade over the long term, and its smart contract capabilities.
The Tezos Smart Rollups technology is the driving force of Etherlink, which is an EVM-compatible blockchain. It gives developers the ability to deploy any EVM codebase without any problems and to migrate users and assets from Ethereum and other interoperable chains. This makes it possible for users and assets to communicate and move themselves across multiple networks without any problems. Find out more by visiting https://www.etherlink.com/.
