Ledger co-founder clarifies ‘there is no backdoor’ in ‘Recover’ firmware update By Cointelegraph
[ad_1]
The launch of Ledger Recover — a new service allowing users of the Ledger hardware wallet to back up their secret recovery phrases — was met with immense resistance from the crypto community. Ledger co-founder and ex-CEO Éric Larchevêque took the criticism against Ledger as “a total PR failure, but absolutely not a technical one.”
Ledger Recover is an over-the-air firmware update allowing users to back up their seed phrases with third-party entities. If a user opts into the new service, the recovery phrase fragments are encrypted and stored by three parties, allowing the user to recover the phrase in the future. However, the seed phrase leaving the hardware wallet did not resonate with users who considered Ledger a trustless service for storing cryptocurrencies.
Continue Reading on Coin Telegraph
[ad_2]
Source link
The launch of Ledger Recover — a new service allowing users of the Ledger hardware wallet to back up their secret recovery phrases — was met with immense resistance from the crypto community. Ledger co-founder and ex-CEO Éric Larchevêque took the criticism against Ledger as “a total PR failure, but absolutely not a technical one.”
Ledger Recover is an over-the-air firmware update allowing users to back up their seed phrases with third-party entities. If a user opts into the new service, the recovery phrase fragments are encrypted and stored by three parties, allowing the user to recover the phrase in the future. However, the seed phrase leaving the hardware wallet did not resonate with users who considered Ledger a trustless service for storing cryptocurrencies.
Continue Reading on Coin Telegraph
About The Author
