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Trust Wallet integrates Ledger hardware wallet for added security

  • Trust Wallet has announced Ledger hardware support for its browser extension.
  • The new Ledger integration adds a layer of security to the leading self-custodial wallet.
  • Users can now securely manage and store all their assets.

Trust Wallet has announced integration with hardware wallet Ledger, with support for the Trust Wallet Browser Extension.

The new Ledger support brings an added security layer to Trust Wallet, a popular self-custodial and multi-chain wallet that currently supports over 70 blockchains. The integration means the wallet’s users can now seamlessly and flexibly access and store more than 8.5 million assets, including non-fungible tokens (NFTs).

Ledger integration brings added security and functionality

According to a press release shared with CoinJournal on Tuesday, users can now buy, stake, swap all of the supported tokens, as well as browse Web3 dApps. Trust Wallet customers now have more control of their assets’ security, which are now secure both on online and offline wallets.

Eric Chang, Head of Product at Trust Wallet said the integration gives Trust Wallet users another option to securely manage their keys.

“Integrating Trust Wallet and a leading hardware wallet like Ledger provides people with the best balance of convenience, enhanced security, and functionality,” he added.

With the partnership, more people will now access not just new tokens and dApps, but also Testnets for a complete wallet experience. Jean-Francois Rochet, the VP of Transactions and Services at Ledger, explained that the two companies’ cooperation is part of a shared goal that seems to empower users and promote self-custody of crypto assets. This is “the true ethos of crypto,” Rochet noted.

As noted above, Trust Wallet is a leading self-custodial wallet that boasts over 10 million monthly active users(MAUs). The native Trust Wallet Token is currently trading around $1.35.

Ledger, on the other hand, is a French technology firm founded in 2014. The company has manufactured several state-of-the-art hardware wallets used by millions of crypto holders across the world, including the Ledger Nano S.

The post Trust Wallet integrates Ledger hardware wallet for added security appeared first on CoinJournal.

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NFT certification protocol Wakweli raises $1.1m in its first funding round

  • Wakweli is a web3 infrastructure protocol that issues certificates of authenticity for NFTs.
  • The funding round was led by Summit, a blockchain investment firm.
  • The funds will enable Wakweli to roll out its product offerings.

Wakweli, a Web3 infrastructure protocol that issues NFT authenticity certificates, has closed and announced that it succeeded in rising $1.1 million in its seed funding round. The protocol uses a decentralized consensus algorithm called Proof-of-Democracy (PoD).

Several investment firms including Summit, Funfair Ventures, several business angles, and dozens of early investors participated in the funding round, showing confidence in the protocol’s objectives.

Wakweli product offerings

Wakweli is a Geneva-based startup that was incubated by software firm EverdreamSoft. It was founded in 2021 with the aim of becoming the reference of trust for the decentralized ecosystem for preserving the market integrity of tokenized assets.

It launched its website, whitepaper, and Alpha version of its protocol in 2022. It aims at creating a dedicated foundation this year to manage and encourage projects to build on its layers and also applies for token grants distributed by its on-chain treasury.

Since it was founded, Wakweli has worked to try to solve issues with NFT scams and cases of copyright infringement, which have become very rampant within the crypto sphere. Wakweli’s product is well suited for the future since a recent report by global consulting firm BCG predicts that asset tokenisation will expand into a $16.1 trillion industry by 2030, meaning authenticity will likely remain a hot topic for many years to come.

FunFair Ventures COO Lloyd Purser praised Wakweli’s principal use case, stating:

“The problem Wakweli is solving is very real and needs addressing, it is a critical part of web3’s journey to mass adoption. The team is hugely experienced and passionate and has shown great trajectory, and we firmly believe that Wakweli will be a key enabler in the growing use of web3 technology in the years ahead.”

The funds collected in the seed round will be used to facilitate the rolling out of the company’s product offerings including a community-driven core protocol that enables NFT marketplaces, buyers, and creators to benefit from a provable mark of authenticity for NFTs and other tokenized assets.

The post NFT certification protocol Wakweli raises $1.1m in its first funding round appeared first on CoinJournal.

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Visa, Mastercard halt crypto partnerships amid market uncertainty: Reuters

  • Visa and Mastercard are slamming brakes on respective crypto products and pausing new partnerships.
  • A Reuters report published on Tuesday says the payment giants are citing uncertain market and regulatory conditions.
  • The companies will however continue to focus on blockchain technology, according to sources. 

Visa and Mastercard, the world’s leading payment card companies, have reportedly put brakes on their respective crypto-related products, Reuters reported on Tuesday.

The payment giants are taking this step as a result of the recent turmoil in crypto, particularly following shocking collapses and bankruptcies across the industry as witnessed in 2022.

Other than the market conditions that have derailed confidence, there is a fresh regulatory cloud that currently hangs over the broader crypto sector – factors that now see Visa and Mastercard push back on their plans, sources said.

Visa and Mastercard pause new crypto partnerships

Increased adoption of cryptocurrencies in the payments sector has over the past two years seen Visa and Mastercard take an aggressive approach towards integrating crypto. 

The US-based companies have indeed struck numerous partnerships with projects and services across the digital assets space. CoinJournal has indeed highlighted numerous Visa-related news as the company aggressively pursued deals that currently number more than 60 crypto firms, including those with Crypto.com and Nexo. 

Earlier this month, as covered here, the payments firm also inked a long-term partnership with crypto payments app Wirex.

Despite this, according to sources, the company has dropped plans for new partnerships as it pushes back on crypto-related products and services. This will be the case until the uncertain regulatory landscape changes.

However, both Visa and Mastercard are not scraping their crypto strategies just yet, people familiar with the developments noted.

Mastercard, for instance, will push forth with its blockchain technology efforts, a spokesperson said. The focus is on how to tap into this underlying technology to build efficient systems and to address existing pain points.

Mastercard announced support for cryptocurrencies on its network in February 2021.

The post Visa, Mastercard halt crypto partnerships amid market uncertainty: Reuters appeared first on CoinJournal.

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Dogecoin needs to close above $0.1 for bullish momentum to continue

  • Dogecoin bulls need to wait for the price to move above $1 before going long
  • A contracting triangle contains the price action 
  • $0.6 support must hold

Dogecoin followed the bullish trend seen in the cryptocurrency market in 2023 and gained more than 50% before the recent correction started. But the spike in the first part of the year is nothing compared to the movement seen in late November.

In fact, since then, Dogecoin has been unable to break the lower highs series, which puts a big question mark on its ability to rally. But bulls should be patient and wait for the market to move above $0.1, as it looks like a pivotal level for Dogecoin.

DOGEUSD chart by TradingView

A daily close above $0.1 opens the gates for more upside

A contracting triangle formed on the 4h timeframe, and Dogecoin’s price action has been contained since late November. Therefore, the safest way to trade this market is to wait for the price action to break above or below, the triangle’s trendlines.

Judging by the market’s resilience to drop below the $0.06 support level, it appears that the triangle will end up with a bullish breakout.

However, bulls may just want to wait until the triangle’s upper edge is broken before going long. On such a move, bulls should target resistance seen at $0.16, with a stop-loss order at $0.8. This way, the risk-reward ratio makes sense from a money management perspective.

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Marinade Finance’s Brandon Tucker says key updates will cut future Solana outages

  • Solana blockchain went offline for 20 hours last weekend.
  • Marinade Finance’s Brandon Tucker says upcoming updates will significantly reduce futures outages.
  • But technical and human errors remain a concern for crypto and users need to have this outlook “hard-wired into any risk profile.”

The Solana Foundation noted in an update on 27 February 2023 that the root cause of the 20-hour long network outage on 25 February was not yet clear.

However, Solana Labs co-founder & CEO Anatoly Yakovenko did talk about what had not caused the latest outage. The Solana Labs exec dismissed claims that the downtime was due to the clogging of the network as result of extremely high volume of on-chain votes and validator messages.

Solana updates to significantly reduce futures outages

After going offline for 20 hours, the Solana blockchain successfully restarted after two attempts.

While Solana’s many outages remain a blot on the blockchain, Brandon Tucker, the growth lead at liquid staking protocol Marinade Finance, says an upgrade to the system will significantly improve the SOL blockchain and “slash” future network freezes.

Tucker shared his views in a comment sent to CoinJournal, noting:

“Chain restarts are never welcome, but it’s not a major setback. Indeed, despite the furor, it’s a similar outage to the five others we’ve seen over the last 12-18 months. Ultimately, it’s good to see the validator community rally together on their own accord to initiate the updates and restart the chain in real time.”

Tucker opines that Solana’s push for throughput and decentralization is something no other chain is attempting, and that getting it right isn’t always straight. In his view, these goals are particularly difficult to achieve when the network is “already being used by more people than just about any other chain.”

Technical and human error are likely to happen, the Marinade developer acknowledged – especially after recent events around both Solana and the broader crypto ecosystem. Tucker believes this is something that investors should have “hard-wired into any risk profile.”

As for what happens next, he thinks the Solana team will be more diligent as they handle updates to the network.

“While the exact cause of the performance degradation is unknown at this time, the latest 1.14 update appears to be the issue. As a result, Solana should and will likely do even more due diligence during testing before rolling out these updates.”

Solana is also preparing for a new consensus implementation, expected to remove any would-be single point of failure. That upgrade is by Jump’s Firedancer validator client. Not only is it set to bolster network resilience, but according to Tucker, also greatly cut chances of future outages.

The post Marinade Finance’s Brandon Tucker says key updates will cut future Solana outages appeared first on CoinJournal.