Digital asset {hardware} pockets agency Ledger has joined a blockchain interoperability coalition, the Common Protocol Alliance.In an announcement
Digital asset {hardware} pockets agency Ledger has joined a blockchain interoperability coalition, the Common Protocol Alliance.
In an announcement on June 11, UPA revealed that the high-profile French {hardware} pockets maker will probably be integrating its blockchain safety and infrastructure options with Common Protocol know-how and property.
UPA singled out Ledger Vault — the Ledger’s multi-authorization governance infrastructure and insurance-backed asset administration answer — as a key part that addresses the considerations of the alliance and its members.
The UPA and its members
The alliance’s present members embody Bittrex International, decentralized lending platform Cred, crypto funds platform Uphold, sensible contract safety agency CertiK and Blockchain at Berkeley.
The UPA focuses on making cryptocurrencies interoperable, has issued stablecoins resembling Common Greenback (UPUSD) and Common Euro (UPEUR), alongside its important utility token, Common Protocol Token (UPT).
Dan Schatt — UPA co-founder and CEO of Cred — mentioned that Ledger’s options, that are tailor-made to custody digital property for banks, hedge funds, exchanges, and excessive internet price people wil “contribute to UPT as a mega utility token” and drive mass adoption of blockchain know-how utilizing UP tokens.
As reported, UPA is carefully linked to Uphold, with person funds saved within the Uphold reserve. UPEUR and UPUSD are each minted and redeemed by Uphold accounts and most of the alliance’s executives additionally maintain positions at both Cred or Uphold.
In an interview with Cointelegraph earlier this 12 months, Schatt — who can be a former PayPal government — emphasised the necessity for interoperability, notably between the highest-profile digital property, resembling Ether (ETH), Bitcoin (BTC), EOS and XRP.
This week, Uphold’s vice chairman of promoting, Michelle O’Connor, informed Cointelegraph Journal that she believes extreme hypothesis remains to be dominating the trade to the detriment of mainstream adoption and use.