Ledger Goes Mobile, Sacrifices Security in the Process?
January 07 2019 - 12:50PM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
January 07, 2019 -- ADVFN Crypto NewsWire -- When you think of
cryptocurrency hardware wallets, what comes to your mind first? For
many, the answer would be the extra security which is afforded to
the user since he or she can take his or her crypto assets off of
the internet entirely.
Over the weekend, however, Ledger,
which is one of the top two trusted producers of hardware wallets
next to Trezor, announced that their next model will be Bluetooth
enabled, which means that users will be able to connect their
wallets directly to their phones.
In their reaction piece on the
subject, CoinDesk claimed that one of Ledger’s primary reasons for
this move was the realization that most people rely on their mobile
phones above actual computers for their computing needs. While
certain recent research does seem to corroborate this, it only does
so to a point. Desktop computing is not obsolete, but has been
fairly outpaced.
Because of this, launching a
mobile-enabled hardware wallet would seem to be a wise decision at
this point. In CoinDesk’s article, Ledger executives were even
quoted as saying that essentially none of their security measures
will be put at risk by adding this Bluetooth
compatibility.
Lending credence to this claim is
the fact that users’ private keys will still be stored locally on
their devices. In addition to this, since the new model will allow
third party developers to develop mobile applications for the
Ledger platform, the team plans to require each app to have its’
own private keys to further protect user devices.
Even so, since Bluetooth devices
can be hacked in a simpler fashion than those which are not
connected in the same way, only time will tell if Ledger’s promises
pan out.
By: BGN Editorial Staff
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