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Ledger Introduces "Difficult to Hack" Bitcoin Wallet

Avatar Guest Author 5 years ago

French startup Ledger has introduced a new multisig bitcoin wallet that they’re claiming is practically immune to hackings and malicious attacks.

Known as the Ledger Wallet Nano, the device enforces an impenetrable chip or smartcard known as the Secure Element, which can also be found in items such as bank cards and mobile phones.  Users’ bitcoins, according to the company, remain safe through the implementation of private codes, which enable one to gain access to their currency.

The wallet currently runs for about $36 USD (or 0.1213 BTC), which Ledger feels is an affordable price for all the offered security.  As CEO and co-founder Eric Larcheveque explains:

“We had, from the beginning, identified consumers’ bitcoins protection as critical… Hardware wallets are essential to the development of bitcoin.  We strongly believe in decentralized, open and affordable products.  This is one of the main reasons to have chosen smartcards.  On top of the added security layers given by decades of research and development, production costs are extremely low.”

To use the Ledger Wallet Nano, users simply need the device itself, the supplied second factor card, a computer with a USB port and a recent version of Google Chrome.

Larcheveque has also expressed plans to further the wallet with future editions containing more features for customers to enjoy, saying:

“We are in the process of assembling and testing 100 prototypes implementing various stages of our developments… We think we’ll be production ready in the next six months, soon launching a hardware wallet compatible with desktops, mobiles, and POS for NFC one-tap payments.”

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