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Cardano-based Yoroi Wallet Sunsets Support for Ergo Token: Details

Sat, 01/07/2023 - 12:18
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Tomiwabold Olajide
ERG token is Ergo Platform's official cryptocurrency
Cardano-based Yoroi Wallet Sunsets Support for Ergo Token: Details
Cover image via U.Today

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Yoroi, a light-client wallet initially designed for Cardano and Ergo, has announced it will be sunsetting its support for the ERG token, Ergo Platform's official cryptocurrency, in the coming months.

The team says this was part of its ongoing efforts to improve and update the Yoroi wallet for the growing Cardano ecosystem. It urges ERG holders to migrate or import their wallets over to a compatible one and says it will have more information regarding the deadline in the coming weeks.

Yoroi would now be an open-source and light wallet built for Cardano ADA users, intended to be a gateway to Cardano's Web3 ecosystem of dApps, including DeFi and NFTs.

Yoroi Wallet, which has been in development since 2018, is seeing new improvements to keep up with the rapidly growing Cardano user base. In November 2022, it began a phased approach toward this objective with the first phase of Yoroi's performance improvement plan being put into action.

As stated in a tweet, the move to sunset ERG support was part of a larger effort to execute important upgrades to Yoroi's infrastructure and to provide a greatly improved user experience.

The Yoroi team also believes this would allow it to further improve its ability to provide the architectural improvements needed to position Yoroi for long-term growth and stability.

IOG hints Cardano network growth

A graphic posted by Cardano builder IOG on Twitter provides details of the growth seen in the Cardano network and its community in the past year.

There are now 1.3 million Cardano Twitter followers. GitHub commits for 2022 stand at 56,800. The number of smart contracts is 4,800, while there have been over 56 million total transactions reported on Cardano.

Native tokens have surpassed the 7.2 million mark and were minted across more than 66,000 policies.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.