IOTA Upgrades To Ledger Wallet Storage Solution
The non-profit IOTA Foundation has put its aims on a distributed ledger technology and ecosystem development. This was announced today in a new collaboration with Ledger, the digital currency and blockchain security leader, to integrate IOTA token with ledger secure hardware wallets for cryptocurrency.
The Ledger Nano S hardware wallet which will be able to let users protect the private keys giving them access to their IOTA tokens in a state of the art secure chip. The Ledger hardware wallets will implement with the IOTA Trinity Wallet and Romeo Wallet to isolate userâs seeds - the key they use or their account - from their smartphone or their computer providing another layer of security from hackers. Users will be able to confirm their transactions on their ledger hardware wallet as a part of the security protocol.
The CEO of Ledger, Eric Larcheveque spoke on the matter and said:
âProviding the highest level of security and quality is a major focus at both Ledger and IOTA. The collaboration between the teams created an immediate synergy concentrated on developing a compatibility feature allowing users to access, store and manage IOTA tokens on Ledger devices. We are thrilled to welcome IOTA onto the Ledger platform.â
According to the website, Ledger wallets are built with BOLOS which is a distinctive operation system and integrated into a secure chip. The secure chip used in the Ledger Hardware Wallets is the same one which is used in passports and Credit cards. This platform is tamper resistant and has the potential to hosting applications and data in a secure nature. Hacking a secure chip takes a lot of man hours while generic microcontrollers can be easily hacked by even a beginner.
David Sonstebo is the co-chairman and co-founder of the IOTA Foundation and spoke saying:
âHardware wallets are regarded as the safest way to store cryptocurrencies. At IOTA, we made a commitment to delivering the safest and most usable standalone cryptocurrency wallet. The Trinity wallet is well on its way to fulfilling that commitment, and today we are proud to announce the next step on the journey. Ledger has earned a strong reputation for security and reliability, and this made it a natural choice for integration with Trinity.â
Cold storage (offline) offers investors a chance to store their cryptocurrencies offline, away from the risk of attack from hackers as one might expect to see with assets that are stored online. Generally speaking, hardware storage is more secure than online storage such as what you might find within an exchange.
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