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Tron [TRX] and Zcoin [XZC] now on Ledger, integration based on “internal evaluation criteria”

Ranjitha Shastry



Tron [TRX] and Zcoin [XZC] now on Ledger, integration based on "internal evaluation criteria"
Source: Pixabay

On 18th July, Ledger, a smartcard-based hardware wallet, announced that they are now supporting Zcoin [XZC], an open-source currency that provides financial privacy and Tron [TRX], a blockchain based operating system. Ledger hardware wallets are a series of multicurrency wallets that are used to store private keys for cryptocurrencies offline.

Ledger's official announcement | Source: Twitter

Ledger’s official announcement | Source: Twitter

Ledger currently offers two products – Ledger Nano S and Ledger Blue. The Ledger Nano S wallet is a USB storage wallet and the Ledger Blue is a handheld device with touchscreen and Bluetooth connectivity. Ledger recently announced a newly added feature ‘onboarding and transactions’ for the users to manage all of their crypto-asset under one single application.

This new feature has many attributes for securing the private keys, some of them are:

  • 8-digit PIN.
  • 24-word recovery phrase [recovery from a lost or damaged device, if the need arises].
  • Device authentication to ensure that the device has not been compromised by any 3rd party.

Ledger mentioned on their website:

“Tron (TRX) can be managed from a Ledger Nano S through the use of Tronscan Desktop and the Tron app on your Ledger device. Both are developed and supported by the Tron community.”

Ledger also supports over 23 other coins some of which are: Bitcoin, Bitcoin Gold, Dash, Digibyte, Dogecoin, Ethereum, Ethereum Classic, Expanse, Hcash, Komodo, Litecoin, NEO, PIVX, PoSW, Qtum, Ripple, Stellar and Zcash.

Ledger extends to work on annexing several other coins as their roadmap has registered support for coins such as Cardano, Monero, Tezos, Lisk, IOTA, Wanchain, VeChain and EOS to name a few among other coins. Ledger is also working towards adding other altcoins and their criteria for adding them is made clear in their roadmap where they mentioned:

“Ledger is not contracting coin support through paid integration anymore. Integration of new cryptocurrencies is done through internal evaluation criteria (market cap, community reach, etc).”

Eventually, Ledger will view to add as many coins as possible to their cold storage wallet which saw unusual growth in 2017 after a massive bull run that took place towards the end of the year.

On 17th July, Tron rose to #10 rank on CoinMarketCap which did not stay for long as TRX is now back on the #11th rank. Currently, Tron is at the market cap of $2.5 billion with the price of $0.039.

Tron ranking at #10 on 17th July | Source: CoinMarketCap/Justin Sun

Tron ranking at #10 on 17th July | Source: CoinMarketCap/Justin Sun

Tron ranking at press time | Source: CoinMarketCap

Tron ranking at press time | Source: CoinMarketCap

At the time of writing, Zcoin is trading at $17.68 with a market cap of $92 million. It has seen a rise of 8.31% in the last 24 hours.

Cafe Crypto, a crypto enthusiast and a Twitter user commented:

“Wow @justinsuntron Ledger Nano is supporting Tron now woohooo.”

Julien, a trader, and a Twitter user commented while asking solutions for some issues related to the wallet:

“It’s great but 2 things I don’t like. We can not add a Tron portfolio? And we can not install more than 4 app / wallet on the Ledger Nano S. It’s frustrating.
But keep your great work on the Ledger Live ;)”

Many Twitter users and traders commented on this post of Ledger asking them to add several other coins like XMR, Verge and EOS.

RedmoonRecord, a crypto enthusiast, and a Twitter user commented:

“Great news supporting TRX! Can you add XMR as well?”

Cryptoshine, a twitterati commented:

“Can you add ICX please ? Thanks.”

Jeon ChangMin, another Twitter user commented:

“When eos and tezos?”

CryptoKraToZz, a trader and a Twitter user commented:

“When @vergecurrency $Xvg #Xvg #Verge.”

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Ranjitha Shastry is a part of AMBCrypto's News Reporting Team. Having done her major in Journalism and mass communication, she is passionate about business and economic journalism.