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26/03/2019
Technology

Ledger Unveils Contactless Hardware Crypto Wallet

Cryptocurrency firm Ledger announced its new Bluetooth based hardware wallet to manage your cryptocurrency. The French startup unveiled Nano X, at the CES 2019 conference in Las Vegas, the Bluetooth-enabled wallet, enabling the user to send and receive tokens from their own phone. Earlier one had to plug the key to their computer using a microUSB cable to perform any action. A Bluetooth based wallet makes everything more hassle free and convenient.

Ledger also announced their plans to launch a mobile app called ‘Ledger Live’ on January 28. The users will be able to manage their transactions and check the balance on their mobile app in the same way as they do via their desktop app. One also will be able to install new apps via the same. Ledger has sold 1.5 million Ledger Nano S so far as per the report. It is also hinted that companies will be able to build mobile apps that work with the Nano X.

Reportedly, Nano X will have the capacity to store 100 crypto assets. Nano S only supported around eighteen cryptocurrencies. Nano X is also slightly bigger compared to Nano S regarding screen, but it looks like the latter in all the other ways.

Following the technology of previous Ledger devices, the private keys will never leave the Ledger wallet. This ensures security and a hacker cannot get hold of the crypto assets even if they get hold of your computers or smartphone.

Ledger is one of the leading security-focused hardware wallet suppliers. It has sold more than one million hardware crypto wallets in 2017 and claimed a profit of $29 million. In late 2017, Nano S entered the top ten on Amazon’s best-seller list in the computer and accessories department, outwitting major competitors such as Trezor and KeepKey. Ledger’s president Pascal Gauthier had revealed their plans to attract “industrial partners who will also sign commercial contracts with the crypto startup” in early 2018. In an article by Forbes, insiders had revealed that ledger had attracted the interest of tech investors like Samsung, Google’s venture arm GV and Siemens with valuation reaching as high $1 Billion.

In October 2018, Sony had also released a contactless cryptocurrency wallet, eliminating the need of USB. “In addition, it is possible to securely generate and store a private key with a highly reliable tamper-proof module within the IC card,” said the Sony authorities via a Press release. “It is an infrastructure technology with multiple possible applications,” the statement included.

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