Blockchain
The new compatibility allows Ledger Live users to send, receive and deploy Cosmosnative ATOM token as well as three other Cosmos-based projects: Onomy, Quicksilver, and Persistence.
Ledger’s goal is to add more than 20 new Cosmos projects by the end of the year, and Axelar will be added within two weeks.
Ledger Live is an app that allows Ledger users to send, receive and deploy tokens. The team believes that Ledger is the first hardware wallet to provide all three functionalities for the Cosmos ecosystem.
“Supporting new resources is a challenge. We have dedicated teams within Ledger for that,” said Ledger’s CTO Charles Guillemet. Decrypt. “Another thing that is really effective for us is that we built a platform, like a development platform, that allows third-party developers to bring their own assets and their own blockchain specificity into Ledger Live. “
Called the Developer Portal, the platform makes adding new Cosmos projects easier and encourages developer participation to extend their product into new chains.
“What we built is mainly the framework that allows the developers to put all this functionality together,” said Guillemet.
All Cosmos tokens will also be staked through the Ledger Live platform. When staking ATOM, Ledger will operate the node itself, but for other Cosmos tokens, Ledger is partnering with staking firm Chorus One.
Why is Ledger tapping Cosmos?
While Ledger admits there are “many interesting” projects in space, choosing to support Cosmos now is just a matter of priorities.
“I think we now support the top 100 blockchains on the device,” said Guillemet. “Now the question is, do we continue to integrate new assets within the top 200 or so? Or do we spend more time integrating more features and morphing on the main chains?”
For the latest development, the CTO has chosen to double the latter. This is an approach it has taken for Bitcoin and Ethereum, with Solana later receiving similar treatment.
“I think [Cosmos] is one of the biggest innovation hubs of the moment,” he said Decrypt.
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Guillemet explained that if you step back and look at the challenges facing the blockchain industry, one of the biggest is scalability, suggesting that this is the most important of the three factors in the blockchain trilemma.
Many attempts have been made to solve this problem.
One idea was sharding that has been “partly discarded”, another is layer 2 solutions that Guillemet thinks are “really, really promising”, while others have tried very fast layer one, but “the downside is centralization”.
Still, the unique scalability tactics of Cosmos and the bridging technology in the Inter-blockkhain Communication (IBC) protocol are of particular interest to Guillemet and his team.