Technology and engineering firm Input Output Hong Kong (IOHK) has confirmed that the Trezor hardware wallet will soon be supporting Cardano’s cryptocurrency ADA.
The announcement was made via Twitter:
Trezor Support coming before November it appears https://t.co/sRZVaWzzeN
— Charles Hoskinson (@IOHK_Charles) October 23, 2018
Cardano Is Not Alone
Several other tokens have also gained Trezor’s support. Some of these currencies include Monero (XMR), Stellar Lumens (XLM), Zcash (ZEC) and Zencash (ZEN).
Cardano presently stands as the crypto space’s 9th-largest entity and has a total market cap of roughly $221 million.
As of late, ADA appears to be garnering the support of cryptocurrency exchanges and trading platforms across the globe including eToro and OKEx, the world’s second-largest digital currency exchange.
Cardano is Thinking Bigger
IOHK chief executive Charles Hoskinson has also boasted of the company’s plans to boost and develop Cardano further. Perhaps the biggest anticipated move is the upcoming Shelley Update, originally announced in late August 2018.
Shelley will allegedly make Cardano a fully autonomous and decentralized system by implementing Ouroboros delegation, multi-signature transactions, consensus and incentive fees, light client mode, enhanced wallet backend and human-friendly addresses.
In addition, the update is expected to bring forth a new voting platform that will enhance democracy and fairness within the Cardano community.
Growth in Price – and Beyond
Hoskinson also says that the team has picked up the pace in terms of QA testing, and that the eagerly awaited 1.3 upgrade is set to arrive soon.
At the time of writing, Cardano has shown strong momentum in its price movement and has surpassed the $0.08 mark once again. Should this momentum continue through Friday, there’s a solid chance that Cardano could hit $0.10 or even higher. It is estimated that ADA may have garnered as much as 13% in its price over the past 24 hours.
In addition, ADA has also gained over 8% on Bitcoin.
What’s Making Cardano Explode, Lately?
Its newfound support from Trezor could potentially be the big boost factor for Cardano.
It has also been announced that OKCoin is listing 5 new currencies to be traded against the U.S. dollar, Bitcoin and Ethereum. Among those 5 are Ripple’s XRP, Zcash, and – you guessed it – Cardano.
Tim Bynn – CEO of OKCoin’s U.S. division – recently expressed his excitement over the addition of Cardano and the other assorted currencies, explaining:
We are very pleased to welcome these five new cryptocurrencies and all of the communities that trade them. As we build out the broadest set of financial products on a globally regulated exchange, we are committed to expanding the trading pairs for our customers while bringing tokens to the exchange that offers utility, value and demonstrable use cases. Today’s announcement signifies a giant step forward for the entire ecosystem.
It Doesn’t Stop There
Cardano recently announced on Reddit that it will be releasing a series of blog posts detailing its upcoming transition to a proof-of-stake (PoS) protocol.
Furthermore, the company’s latest smart contracts feature dubbed “Icarus” was recently given a green light following a security audit performed by Switzerland-based cyber-protection firm Kudelski Security.
