Algorand Foundation will stop supporting the AlgoSigner wallet starting March 31

The reasons for this decision are not reported

24.03.2023 - 09:15

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2 min

What’s new? On March 31, the Algorand Foundation will stop supporting the browser-based crypto wallet AlgoSigner. Users were recommended to switch to other services, having previously found out more about the basic rules of wallet security. The project’s team did not explain the reasons for this decision.

News on the Algorand website

What else is known? Released in August 2020, AlgoSigner was the first wallet for decentralized applications (DApps) in the Algorand ecosystem. The wallet’s first release allowed the project to usher in the era of Web 3.0.

The announcement states that the decision to discontinue support was made in light of the evolving nature of the Algorand ecosystem and user experience priorities. The team concluded by thanking PureStake for working together to develop the wallet.

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About Algorand. The open-source blockchain platform focused on smart contracts launched in April 2019. It runs on the Pure Proof-of-Stake protocol. As of March 24, 09:00 UTC, the native token ALGO ranks 41st in the cryptocurrency ranking with a capitalization of $1,53 billion and is trading at $0,212, down by 2,17% in 24 hours.

Starting March 29, US crypto exchange Coinbase will stop paying ALGO staking rewards. The move comes after the US Securities and Exchange Commission (SEC) notified Coinbase on March 22 about possible violations of securities laws, which were found including in the operation of the staking service.

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