crypto partnership: Blockdaemon and the Ledger hardware wallet

  en.cryptonomist.ch 35 m

Crypto news: Blockdaemon and Ledger hardware wallet are joining forces in a strategic partnership to provide institutional clients with best-in-class staking solutions, significantly improving the security and reliability of the service.

See below for full details.

Summary

• Full details of new crypto initiative between Blockdaemon and Ledger hardware wallet
• Some statements on the new partnership
• XRP Ledger performance and complexity in Q3: Messari report

Full details of new crypto initiative between Blockdaemon and Ledger hardware wallet

As expected, Blockdaemon, a leading provider of high-end blockchain infrastructure for the institutional sector, and Ledger, the world’s leading hardware wallet for securing critical digital assets, are excited to announce their recent strategic partnership using the Ledger Enterprise solution.

This partnership is aimed at providing customised stacking solutions for Ledger Enterprise’s corporate and institutional customers. We see that the collaboration is based on several key objectives.

First, enterprise level security. Indeed, Ledger’s expertise in institutional-grade hardware security solutions adds significant value to the partnership, ensuring maximum security for staking activities.

Together with Blockdaemon, and leveraging its expertise in blockchain infrastructure management, the level of security is further strengthened.

Second, the reliability of the staking infrastructure. Blockdaemon’s extensive expertise in blockchain infrastructure management complements Ledger Enterprise’s security solutions to create a robust and reliable staking infrastructure.

This is designed to minimise downtime and maximise rewards for participating organisations.

It also aims to simplify the staking experience. This means that through this collaboration, both companies aim to simplify the staking process for institutional customers.

The use of Ledger Enterprise’s HSMs for key management, combined with Blockdaemon’s infrastructure, will provide an intuitive and efficient staking experience.

Finally, driving awareness. By joining forces, Ledger and Blockdaemon aim to educate institutional investors and organisations on the benefits of staking as a form of reward and active participation in blockchain networks.

Some statements on the new partnership

Commenting on the new partnership, Jeff Hasselman, President of Blockdaemon, said:

“The partnership with Ledger Enterprise is a testament to our shared vision of elevating the staking landscape. Together, we are poised to offer an unmatched staking experience, combining security, reliability, and efficiency.”

Sebastien Badault, VP of Enterprise at Ledger, added:

“Our collaboration with Blockdaemon underscores our commitment to pushing the boundaries of what’s possible in the realm of staking. We’re excited to bring our hardware security expertise to the table, ensuring that our institutional clients benefit from a staking solution that’s not only secure but also incredibly user-friendly.”

In conclusion, this synergistic partnership between Ledger and Blockdaemon is poised to deliver secure, enterprise-wide staking solutions that not only enhance security and reliability, but also promote wider adoption of staking within the institutional community.

XRP Ledger performance and complexity in Q3: Messari report

Recently, Messari, a renowned crypto analytics firm, published a detailed report on the performance of the XRP Ledger in Q3.

The report, a collaboration with XRPScan, CoinGecko and Coin Metrics, highlights growth in some areas and potential challenges in others.

According to Messari’s report, following the landmark Ripple vs. SEC decision in July, which confirmed that XRP is not a security, market capitalisation increased 11.9 percent quarter-over-quarter (QoQ) and a remarkable 59.9 percent year-over-year (YOY).

Adding to the momentum of the XRP market, Q3 data shows that the token became the fifth largest cryptocurrency by market capitalisation at $3 billion.

This is an impressive turnaround from the previous quarter, reversing the decline and bringing it in line with Q1 figures.

The report shows that average daily values of transactions and active addresses reached annual lows in the third quarter. Despite this, there was a net increase of around 3 million accounts, bringing the total to 125 million.

The number of new addresses rose by 3% to 4.81, while the number of deleted addresses fell by 14.6% quarter-on-quarter, down from the peak seen in the previous quarter.

In addition, the report highlighted the technical complexities of the XRP ledger, focusing on the spike in activity affected by the active recipient metric, mainly due to senders such as exchanges and custodian solutions.

Finally, Messari highlighted a discrepancy in the numbers between active recipient and sender addresses, which he attributed to transactions executed by centralised exchanges and custodians using destination tags.

Detailing the transaction landscape of the XRP ledger, Messari clarified that daily transactions include 29 different types, ranging from payment transactions to NFT burns.

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