Ledger has just announced the release of a new hardware wallet which comes with an app that allows for remote management of funds.
Nano S price to drop after Nano X debuts in the Market
The Crypto wallet unveiled on Sunday the new Nano X device that comes with Bluetooth connectivity at the yearly CES (Consumer Electronics Show) in Las Vegas. The additional Bluetooth connectivity means that the Nano X device can be used with mobile devices. This has been the missing feature in the current Ledger S wallet which had customers complaining. Most companies seeking to enable remote connectivity usually use mobile computing with few of them even touching on laptop or desktop computing.
Eric Larchevêque, Ledger’s Chief Executive, said during a demonstration that the inclusion of a mobile application for the Nano X is big for the hardware of the lineup. Through the Nano X connectivity with Bluetooth, the customer will enjoy the security factor of the ledger coupled by the mobile factor said Larchevêque. Although the Ledger in itself is able to store keys, it requires an external application to write and send transactions.
Larchevêque has not been forethcoming with information about the price of the Nano X. he did, however, say that once the Nano X debuts live, the price of the Nano Swill be going down from its current selling point of $69.99. Going by the information on the Ledger website, the firm has been able to sell over $1.3 million Nano S devices.
The Nano X’s New Features
The new Nano X device has more features including a significantly larger screen. The increased screen size is important to the Ledger’s security measures as they require actions be made on the hardware device. Larchevêque added that the Nano X was a more advanced device as compared to the previous ones. According to the Ledger, the new mobile app will be found on Google Playstore and iTunes from the 16th of January.
The new Nano X also has more memory space. Contrary to common assumption, a hardware wallet is not only used for storing public private keys. The introduction of new Crypto tokens complicates the Crypto ecosystem. An increase in tokens necessitates the interaction of different protocols from different software. In the maintenance of the high security standards, Ledger has decided that to send and receive coins, each protocol should have its own app.
Larchevêque said that the firm has different applications being developed by third party developers. The firm is therefore ensuring that the applications are only able to sign their individual private keys. Larchevêque said that this step was of benefit to the user as the probability of them accidentally signing a transaction using the wrong protocol was slim.
The Nano X has enough space to store up to 100 applications for Crypto assets, a significant increase to Nano S.
Introduction To Consumer Electronics
The CES received the French company with open arms and introduced it to the broader electronics world even though it’s not a Crypto show. The show even awarded the firm the Innovation Award in Cyber Security and Personal Privacy.