BTC Wires

Cardano To Receive Support From Trezor Soon

Cardano, the distributed computing platform that runs the blockchain for the Ada cryptocurrency, recently received a massive security boost. Word is, that IOHK, a tech company in the fintech sector, has announced that Trezor will be supporting Cardano soon.

Trezor is a world renowned hardware wallet which is used to store digital currencies and also the key of the wallet which unlocks access to the currencies. It is being estimated that since Trezor is a security mechanism that a lot of people find reliable, if it backs Cardano up and provides security to the token, then that will appease the investors of the currency.

Trezor was the first one to let the cat out of the bag when they launched, via their official twitter handle, the roadmap that they had created for the upcoming year. In that, Cardano featured as one of the coins that is going to be backed by the company:

This announcement was later confirmed by Charles Hoskinson, the founder of Cardano, once again via Twitter. He retweeted the link to the roadmap saying the support had arrived earlier than he expected:

Other tokens like Stellar, XRP, Zcash, Zencash, Monero are going to be supported by Trezor as well.

The team of cardano will suppposedly be more forthcoming with information about their later projects. The team will soon start creating and posting content in the form of videos, about their upcoming projects.

The firm has still not announced anything regarding this which is why it could be a problem for the firm’s market value which is quite volatile right now.

Crypto Sam said:

“ADA/USDT price action remains stuck and dictated within this triangular pattern formation. The market bears, with the current losing streak, are set to test the key near-term support to the downside. This is seen at the lower part of the above-mentioned pattern, tracking at $0.0728 area, also within a touted demand zone.”

The 1.4 update will supposedly boost Cardano’s value and get more traction to its platform. This could be just the boost that Cardano as a platform needs.