January 07, 2019 | AtoZ Markets According to a press release from one of the news portals on January 7, Ledger presented a new Bluetooth-based hardware wallet for cryptocurrencies. Ledger is known as a firm, developing security and infrastructure solutions for cryptocurrencies and blockchain applications was launched in 2014.
New Ledger Product Was Presented in Las Vegas
A wallet called Ledger Nano X, was shown on Sunday at the annual Consumer Electronics Show 2019 conference in Las Vegas. According to the official company’s note the Ledger Nano X is the upgrade of the Ledger Nano S, which is the most popular “hardware wallet having sold over 1.4 million units.” At the end of November, Ledger Nano S began to support Altcoin Monero (XMR). As firm claims, the new wallet will come “with enhanced state-of-the-art security and an improved user experience and design.” The new hardware’s Bluetooth feature in the new device will allow the Nano X to be used with mobile devices, which was problematic for many users of the current version of Ledger S. Also on January 28, the company announced the launch of a mobile application called Ledger Live, that will allow users to manage their transactions and check the balance from a mobile device. Ledger Nano X will be able to store more than 100 different digital assets. The new device will manage to do the task by increasing the memory.
SONY New Cryptographic Device’s Launch Still Unclear
In October, Sony, a major technology company, announced that it had created a non-contact hardware cryptographic wallet using intelligent IC technologies.The product release date is not yet known, Sony noted that the device will be able to manage private keys for storing personal information in the blockchain, as well as to manage cryptographic storages. Sony representatives named several features of the new type hardware wallet like “small, portable, useful and unlike typical existing hardware wallets that connect to PCs via USB. Sony added, that within IC card it is possible to securely generate and store a private key.
Certain Concerns Still Follow the New Ledger Hardware Launch
In the summer, Ledger shared the news that in 2017 they sold more than 1 million wallets, attracting major investors such as Samsung, the venture division of Google GV and Siemens. The company also opened an office in Hong Kong at the end of October. However there are still certain concerns surrounding the new Ledger invention, because the introduction of the wireless connection such as Bluetooth increases the risk of an attacker hijacking the connection and stealing user’s data. In December, a research team demonstrated vulnerabilities in Ledger equipment that allowed them to install any firmware on a wallet. In response to the demonstration, Ledger issued a statement that the vulnerabilities were not critical, and the hacking methods proposed by the demonstrators were impractical. Ledger representatives stated, that hardware is still highly secure due to Bluetooth “short range and the device’s built-in security features.” In his recent interview Ledger CEO Eric Larchevêque added that while the Bluetooth connection is used to send public data like user’s public key, the transaction “itself is encrypted end-to-end”.
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