Trezor Adds Support for Cardano Smart Contracts.
Famous cryptocurrency hardware wallet developer Trezor has announced a new update that will enable the support of Cardano’s smart contract functionality.
According to a recent blog post made by the company, the Cardano smart contract functionality will now be supported on its flagship device Trezor Model T.
New updates to Trezor Suite (22.5.2.) & Firmware of Model One (1.11.1) and Model T (2.5.1)!
Updates include:
▪️ Security fix for both models
▪️ Cardano smart contract support
▪️ Improved Suite guide
See more changes on our blog:https://t.co/VfvnSepvVZ— Trezor (@Trezor) May 18, 2022
Notably, before Cardano enthusiasts will be allowed to use the smart contract functionality, they will need to update their Trezor firmware on the Model T device to version 1.11.1.
“This will allow Cardano users to securely interact with and sign transactions to smart contracts using keys held on their Trezor,” Trezor said in a statement.
Trezor advises Cardano users to take note of their seed recovery phrase before conducting the upgrade, as they will be prompted to input their keys after successfully completing the exercise.
While Trezor has released significant upgrades to two of its flagship devices, Model T and Model One, Cardano’s smart contract will only be supported on the former.
“Cardano support on the Model T has been extended to now also include Plutus smart contracts for transactions from the Alonzo era onward,” the popular hardware wallet developer added.
Aside from supporting Cardano’s smart contract functionality, the upgrade also has some relevant features like security fixes as part of efforts by the company to keep users safe at all times.
The development comes less than a month after Trezor’s primary rival, Ledger, announced that it had added the Cardano smart contract feature to its Live App, thus granting its users access to the service.
Cardano’s Smart Contract
Launched in September 2021, the smart contract has been an essential addition to Cardano’s ecosystem, as it further improved the utility of the blockchain’s native cryptocurrency ADA.
Activities on Cardano have skyrocketed, with more developers flocking to the blockchain to take advantage of the network’s speed and low-cost transactions.
Despite the influx of developers to Cardano, Charles Hoskinson, the CEO of Input Output Global (IOG), noted that more developers will use the network after the launch of Hydra Hard Fork.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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