Blockchain-based startup Ledger is looking to keep your cryptocurrency safe with the release of its new hardware wallet. The firm’s new product – the Nano S – is compatible with both Bitcoin and Ethereum and comes with new levels of security constructed after 18 months of research and development.
Hardware wallets are tangible security devices which consumers can acquire to ensure the safety of cryptocurrency. They are typically the size of a traditional flash drive and can plug into any computer through a USB port. In comparison to standard software wallets, hardware wallets store private keys inside a physical device and information cannot be transferred out of the device while the data is unencrypted.
The Nano S can connect to any computer via USB port and is enabled with an OLED display that users can use to confirm transactions. The information in the wallet must be accessed using a PIN code and payments need to be confirmed through a two-factor validation process using the wallet’s display. The Nano S uses chip technology to keep encrypted data secure and is immune to computer viruses and malware that can breach more common software wallets. As a fail-safe, the device’s accounts are also backed up on a paper wallet for easy data recovery.
Ledger’s new hardware wallet is compatible with Windows, Mac, Linux, and Chrome OS. The product requires Google Chrome for installation, and comes with a set of built-in Bitcoin and Ethereum Chrome applications. Users also have the option to run existing third-party apps, or build their own, that are able to manage different blockchain-based cryptocurrency wallets.
Read more here- “Blockchain Startup Ledger Launches New Cryptocurrency Hardware Wallet ‘Ledger Nano S’,” (EconoTimes)