Cardano Integration Brings Native Token Support

The integration with Cardano is particularly noteworthy for the cryptocurrency community. Cardano is a proof-of-stake blockchain platform known for its scalability and security features.

With this update, Tangem users can now manage Cardano native tokens (CNTs) directly within their wallets. This includes popular tokens like Iagon (IAG), SingularityNET (AGIX), Cornucopias (COPI), Snek (SNEK), and World Mobile Token (WMT).

To access these functionalities, users simply need to update their Tangem app. Once updated, Cardano native tokens can be found within the “Manage Token” section. While staking functionality for Cardano is not currently available, Tangem has indicated plans to integrate staking support in the near future.

The Cardano community reacted positively to the news. Several community members expressed their appreciation for Tangem’s support by pledging to purchase Tangem wallets. Notably, Stake with Pride, a prominent Cardano stake pool operator, showcased their purchase of a Tangem Wallet 2.0 Pack of 3, further solidifying the community’s enthusiasm.

Beyond Cardano, Tangem’s integration with Manta broadens user options by incorporating a privacy-focused blockchain platform. Unlike public blockchains where transactions are transparent, Manta offers enhanced transaction confidentiality for users seeking additional privacy for their digital assets. To interact with the Manta network and its privacy-preserving features, users need to update their Tangem apps.

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Tangem Bolsters Its Position with Extensive Network Support

These integrations bring the total number of supported networks on Tangem to 61. This extensive list includes major players like Bitcoin, Ethereum, XRP Ledger, and Solana, alongside newer projects like Aleph Zero, Hedera Hashgraph, Kusama, and Shibarium.

Founded in 2021, Tangem has established itself as a leading provider of secure self-custody solutions. Their signature product, the Tangem Wallet, is a physical card-shaped hardware wallet offering a user-friendly and secure way to manage crypto assets. With over 1 million cards manufactured, Tangem continues to grow its user base and expand its reach within the cryptocurrency ecosystem.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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According to the updated data collected from Cardano Blockchain Insights on August 4 by Timestabloid, wallets created on one of the largest smart contracts platforms, Cardano, have hit an all-time high. 

At the time of writing, the total number of wallets on the Cardano network is 3,502,500. While the total number of ADA delegators on the chain is 1,172,839. Data shows that in the last two months, over 1500 wallets were created daily.

Meanwhile, the number of smart contracts on the platform exceeded 3,000 for the first time on August 1. At the time of press, as seen on the Cardano Blockchain Insights platform, the number has reached 3024.

Cardano Blockchain Grows

Cardano blockchain continues to grow bigger as its adoption rate increases among players in the crypto industry and other entities.

This growing adoption rate of the 8th largest cryptocurrency project by market capitalization could be attributed to the stable and scalable state of the platform. 

Read Also: Cardano (ADA) Reigns As the Most Developed Asset in Crypto Industry –Santiment

Unlike the Solana blockchain which has recorded multiple outages this year alone and other security issues, Cardano has operated for about five years without any case of a network outage. Over 5000 Solana wallets have been drained in a recent hack case.

The legal custodians of Cardano, Input Output Global (IOG), tasked with the development of the smart contract platform, have been working on making Cardano a more scalable and interoperable network. 

However, the Cardano Vasil upgrade has met several postponements and holdups. In response, the CEO of Input Output Global, Charles Hoskinson noted that the elements causing the Vasil upgrade to be delayed are considerably small.

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