It is blockchain’s ability to process frequent micro-transactions that helps to make such trading technically possible.īut physical and regulatory constraints mean that utilities and grid operators will still have major roles in delivering power for many years to come. In electricity, the role of utilities and grid operators is threatened by the shift to decentralization, as more and more distributed energy sources, such as rooftop photovoltaics and battery storage in electric vehicles, come into play.īlockchain can support this decentralization by enabling peer-to-peer trading in microgrid communities between prosumers – retail consumers who also produce small quantities of power. Increased transparency in trade workflows could make fraud much easier to detect, but a secure blockchain system with trusted counterparties also threatens the role of banks as trusted intermediaries. Trade finance, which underpins all global commodities trading, is another sector that blockchain could transform. This is one of the first commercial live applications of blockchain in the energy sector. In Fujairah, for example, S&P Global Platts uses a blockchain platform to collect and publish weekly aggregated oil terminal stock levels on behalf of the Fujairah Oil Industry Zone authority and data committee FedCom. Regulators are also interested in how blockchain can help them make markets more transparent and so more efficient. That shift is about to hit commodity trading, which has traditionally relied on vast paper trails to execute, authenticate, and process each transaction.ĭigital technologies like blockchain, the distributed ledger technology best known for its association with cryptocurrency Bitcoin, are creating new options for streamlining and simplifying paper processes, and for disrupting long-established business models.īlockchain has attracted serious interest from some of the biggest names in commodity trading, like Gunvor and Mercuria, as well as oil-and-gas majors like BP and Shell, and big banks like Societe Generale and ING.īut blockchain also creates opportunities for smaller players by potentially reducing the cost of trading, making it cheaper to enter a market. The shift to electronic documents and data in all areas of life is one of the key economic developments of this century, bringing new efficiencies, cost savings and opportunities far beyond anything that could be achieved with paper records. The post Ledger Live now lets users stake Tezos appeared first on Coin Rivet.If you’re reading this on a phone, tablet or laptop, instead of paper, you’re part of the digital revolution that is transforming society. Interested in reading more Ledger-related stories? Discover more about the hardware wallet manufacturer appointing a new CTO. To celebrate the move, Ledger will hold a contest with prizes including 1,000 XTZ, five standard Ledger Nano X wallets, and 100 custom Tezos-engraved Ledger Nano S wallets. Unlike on exchanges where users are giving up their rights to choose who to delegate to, by using Ledger Live, you are able to select from a wide list of validators based on your own preferences.” “Ledger offers users more control over staking. The company continues: “With today’s announcement, users can now manage and earn XTZ rewards through Ledger Live, while still ensuring top security through their Ledger hardware wallets. The ability to bake Tezos is currently available on multiple well-known cryptocurrency exchanges, though Ledger claims that “these exchanges do not provide the same level of security and optionality as Ledger hardware wallets”. Staking Tezos (or baking when referring to XTZ) is a method to earn passive income while also increasing the security of the network. Ledger has now announced that the latest version of its wallet companion application – for both desktop and mobile – includes support for Tezos (XTZ). Through the application, they can check their balance and send and receive 23 different crypto coins and more than 1,250 ERC-20 tokens in real time without “compromising control of private keys”. Ledger Live enables its users to manage their crypto assets in one place. The hardware wallet manufacturing giant unveiled its easy-to-use solution last year. Ledger has announced that the latest version of its Ledger Live wallet application now supports the Tezos cryptocurrency and will allow users to stake XTZ to earn passive income.
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