Ledger Expands Cosmos Integration, Aims at Adding 20 New Projects

Blockchain

The brand new compatibility will let Ledger Reside enable customers to ship, obtain, and stake Cosmos‘ native ATOM token in addition to three different Cosmos-based tasks: Onomy, Quicksilver, and Persistence.

Ledger’s aim is so as to add greater than 20 new Cosmos tasks by the top of the yr and Axelar is because of be added inside two weeks.

Ledger Reside is an app that allows Ledger customers to ship, obtain, and stake tokens. The crew believes Ledger is the primary {hardware} pockets to supply all three functionalities for the Cosmos ecosystem.

“Supporting new belongings is a problem. We have now groups devoted to that inside Ledger,” Ledger’s CTO Charles Guillemet instructed Decrypt. “One other factor that’s actually efficient for us is that we have now constructed a platform, like a improvement platform, permitting third-party builders to carry their very own belongings and their very own blockchain specificity inside Ledger Reside. “

Known as the Developer Portal, the platform makes including new Cosmos tasks simpler, encouraging participation from builders to assist increase their product to new chains.

“What we have now constructed is usually the framework permitting the builders to place all this performance collectively,” Guillemet mentioned.

All Cosmos tokens may also be staked by means of the Ledger Reside platform. When staking ATOM Ledger will function the node itself however for different Cosmos tokens, Ledger has partnered with staking agency Refrain One.

Why is Ledger tapping Cosmos?

Whereas Ledger admits there are “loads of fascinating” tasks within the area, selecting to help Cosmos now’s solely a matter of priorities.

“I believe now we’re supporting the highest 100 blockchains on the gadget,” Guillemet mentioned. “Now the query is: can we proceed to combine new belongings throughout the prime 200 or one thing? Or can we spend extra time on integrating extra options and morphing on the principle chains?”

For the newest improvement, the CTO has opted to double down on the latter. That is an method it has taken for Bitcoin and Ethereum with Solana getting the same therapy down the road.

“I believe [Cosmos] is among the largest innovation hubs right this moment,” he instructed Decrypt.

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Guillemet defined, if you happen to take a step again and take a look at the challenges the blockchain trade faces one of many largest is scalability—suggesting it is crucial of the three components within the blockchain trilemma.

There have been many makes an attempt to resolve this concern.

One concept was sharding which has been “partly discarded,” one other are layer-2 options which Guillemet thinks are “actually, actually promising,” whereas others have tried a really quick layer one however “the draw back is centralization.”

Nonetheless, Cosmos’ distinctive scalability ways in addition to its bridging expertise within the Inter-blocckhain Communication (IBC) protocol is particularly fascinating for Guillemet and his crew.