The developers of the Trezor hardware wallet have decided to update the software of their device. This has made it possible to support smart contracts based on the Cardano blockchain.
An important update for hardware wallet users
Model T of the Tezor hardware wallet, on May 18, received a new functionality. From now on, it is possible to support Cardano smart contracts through it. This information was published on the blog and on the official twitter profile of the brand.
To use the new extension, it is necessary to update the firmware to version 1.11.1.
As Trezor representatives summarize:
“This will allow Cardano users to securely interact and sign transactions to smart contracts using keys stored on their Trezor.”
Caution advised
Maintaining a high level of security for digital assets on hardware wallets, requires regular updates to their software. Such recommendations are provided by Trezor each time. However, it is important to exercise caution when doing so. For the latest update, the developers suggest making sure that our key phrases are saved and stored in a safe place. After the update process is complete we will be asked to enter them again. This procedure is completely safe and should be familiar to every existing user of the Czech manufacturer’s hardware.
Trezor at the same time released updates for two flagship models of the hardware portfolio –
Model T and Model One. However, according to the information provided, Cardano smart contracts will only work on the former.
Trezor remains highly competitive
Cardano smart contracts were introduced in September 2021, via Alonzo’s high-profile hard fork. This has significantly improved the utility of the cryptocurrency ADA. Cardano has thus become a highly competitive blockchain that offers high transaction speeds with low transaction costs.
Trezor argues: “Cardano support in Model T has been extended to now also include Plutus smart contracts for transactions since the Alonzo era.
The new wallet feature will tap into the potential of Charles Hoskinson’s network, by securely conducting transactions and signing them with the wallet.
The result is that Trezor continues to be a market-leading wallet that follows trends and understands market needs very well.
If you want to learn more about the Trezor wallet and understand why using such a device is essential for the security of your cryptocurrencies, be sure to take a look at the article titled: “Trezor review”.
