Trezor Hardware Crypto Wallet Now Supports Cardano Smart Contracts

Watcher Guru 1 month ago Report
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Crypto hardware wallet creator Trezor deployed a new software update that will now support Cardano smart contracts.

JUST IN: Trezor hardware crypto wallet now supports #cardano smart contracts.

— Watcher.Guru (@WatcherGuru) May 19, 2022

Trezor made the announcement in a recent blog post, where the company wrote that it would add the new functionality to its Model T.

Source: Twitter

Before the users can utilize the function, they need to update the Trezor firmware of their Model T device to the latest version, 1.11.1.

Trezor released additional updates

“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.

Security fixes for both hardware wallet types are included in the firmware updates, which must be installed to guarantee the assets are properly protected. Trezor recommends that Cardano users write down their seed recovery phrase before proceeding with the upgrade since they will be requested to enter their keys after completing the process.

Trezor has released updates for two of its flagship devices, the Model T and Model One. But Cardano’s smart contract will only work 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.”

Trezor hardware developer

The feature will now allow users to transact securely and sign transactions using the Trezor. The announcement comes up following Ledger’s announcement less than a month back of its support of the Cardano smart contract to the Live app.

The Cardano smart contract, which was released on September 12, 2021, essentially improved the native cryptocurrency ADA’s utility. Cardano has proved to be a reliable blockchain as developers are barging in to utilize the network’s low cost and quick transactions.

The hardware team wallet also urged the users to ensure that they stay protected. The team also announced that the improvements include major security patches for both the hardware wallets.

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