The Canton Foundation has announced that Ledger has joined the Canton Network as a Super Validator to secure the institution-focused blockchain protocol. Ledger’s participation is established under proposal CIP-0069. The Canton Foundation aims to mix the best public blockchain with the security and compliance of traditional finance.
Strengthening Network Integrity and Security
As a Super Validator (weight of 5), Ledger is more than an active participant on the network; it maintains and enhances the base level of security. Ledger has sold over 6 million devices and secured c.$1 trillion of digital assets in these devices. By adding Ledger to the Canton Network, we elevate our infrastructure with extraordinary trust and expertise in security. This provides a true assurance that we can keep our network secure and work to be efficient for high-volume institutional applications.
Ledger’s backing of the Canton Network is validation of the vision for privacy and interoperability that drives its design choices. As a Super Validator, Ledger will participate in consensus and governance while guaranteeing that the decentralization of the network is anchored on hardware roots of trust”.
Driving Adoption via Ledger Live and Enterprise
The partnership between these two companies goes beyond merely verifying that networks are legitimate. According to the announcement, Ledger is adding support for the Canton Token Standard across its offerings, including the Ledger Live app and its Enterprise custody solution. This enhances accessibility within the Canton Network ecosystem for both retail and institutional users.
With the addition of the Canton Token Standard, Ledger gives users the ability to store Canton-based assets using cold storage protection. This helps ensure their assets on the Canton Network remain secure. In addition, this new feature introduces the first step of a milestone/weight system, whereby Ledger’s involvement in the network grows with the amount of “real-world” main-net usage and adoption of the network. Overall, Ledger’s continued role in the governance of support will be based on utility rather than merely an arbitrary number.
The Institutional Shift Toward Regulated DeFi
The partnership represents a larger tendency in the sector as specialized data center operators partner with Decentralized Networks to create an “Institutional DeFi”. As part of their initiative with Canton, Ledger hopes to simplify the transfer and protection of high-value assets between different blockchains.
The purpose of The Canton Network is for use in regulated markets and is being developed with support from non-tangible gigantic organizations such as Goldman Sachs and Deloitte. The addition of Ledger’s custody solution makes the Canton Network a more complete offering for major investment players. It addresses the security concerns that have previously kept many institutions from using blockchain for their assets.
This represents a clear movement toward integrating more institutional investors into digital asset ecosystems. Multiple media reports, including coverage from Reuters, show that institutional adoption of digital asset custody is accelerating.
Conclusion
The designation of Ledger as the Super Validator for the Canton Network represents more than a technical enhancement in the oracle layer. The Canton network will be able to keep evolving its ecosystem through the addition of Ledger hardware asset protection for another layer of security on top of users of the Canton network. The combination of both the Canton network’s interoperable blockchain architecture and Ledger hardware asset protection will provide a way to operate a blueprint for institution grade digital finance.
Source: https://blockchainreporter.net/canton-network-strengthens-institutional-security-as-ledger-joins-as-super-validator/
