By George Ward
As the world of cryptocurrency continues to evolve, more and more projects are being built on the Cardano platform. The Yoroi wallet recently announced that it will sunset its support for the Ergo token.
The Ergo token is built on the Cardano platform, and it’s a secure and reliable way to transfer value and access services. It is a decentralized, open-source platform based on the UTXO model of the network, designed to facilitate the free exchange of value between businesses and individuals.
The Yoroi wallet supports multiple tokens, including Ergo tokens, and has a built-in exchange for trading between different cryptocurrencies. However, the Yoroi team recently announced they would sunset their support for the Ergo token.
For those who still wish to use the Yoroi wallet with Ergo tokens, the team recommends switching to a different wallet or transferring their wallets to a compatible one. Furthermore, the Yoroi team encourages holders to keep abreast of the news as more details about the due date will be available in the upcoming weeks.
Yoroi Wallet, a top-tier cryptocurrency wallet developing since 2018, is now rolling out crucial performance improvements as the Cardano user base continues to grow exponentially. On November 2022, Yoroi began a phased approach to ensure its users are always up-to-date with the latest technology and features.
This first step of Yoroi’s performance improvement plan will ensure wallet optimization for maximum security and speed. As mentioned in a tweet, the move to discontinue ERG support was part of an immense effort to upgrade Yoroi’s infrastructure and give a better user experience.
The Yoroi team is confident that these architectural enhancements will position it for future success and sustainability. Thus, enabling it to continue making improvements and providing enhanced solutions.
IOG Suggests Cardano Network Upsurge
IOG, the developer team for the Cardano network, tweeted an illustration highlighting the significant transition of the Cardano network and its ecosystem over the past year. Approximately 1.3 million people follow Cardano on Twitter, with 56,800 GitHub commits throughout last year.
This data demonstrated the power and robustness of blockchain technology and its ability to securely and effectively store, manage, and record data. Also, over 56 million documented transactions and roughly 4,800 smart contracts are deployed on the blockchain.
Furthermore, more than 66,000 policies have enabled the issuance of over 7.2 million digital tokens, providing users with access to a secure and reliable platform for exchanging value.
In the meantime, the Yoroi team is working on new features and upgrades for their wallet so that users can easily continue storing, sending, and receiving their cryptocurrencies.
While it is unfortunate that the Yoroi wallet no longer supports the Ergo token, it is a natural part of the evolution of cryptocurrency. The team argues that it is focusing on projects attracting the most attention.