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IOTA announces compatibility with Ledger Wallet

IOTA announces compatibility with Ledger Wallet

In an entry in the company blog IOTA has now announced the compatibility with the wallets of the French manufacturer Ledger. It says:

“The Ledger hardware wallets integrate the IOTA wallets Trinity and Romeo. This keeps the users' [secrets to their accounts] separate from their computer or smartphone. This provides another layer of protection against hackers. “

Ledger CEO, Éric Larchevêque, commented on the blog:

“Both Ledger and IOTA focus on safety and quality at the highest level. Collaboration between the teams has produced immediate synergies in focusing on the development of compatibility. Users can now store and manage their IOTA tokens through Ledger devices while still having access to them. “

David Sønstebø from IOTA said in addition:

“Hardware Wallets are the safest way to store cryptocurrencies. We at IOTA want to offer the safest and most useable crypto currency wallet. The Trinity Wallet is on its way to fulfill this promise. Today we are proud to announce the next step towards this goal. Ledger has a reputation for security and reliability, so the company is a natural choice for integrating Trinity. We're proud of how our community, the IOTA developers, and the Ledger team have worked together to make this happen. “

IOTA as a company also targets scalability and free transactions, as well as an application within the Internet of Things. In terms of market capitalization, the cryptocurrency IOTA ranked 12th on the list of the largest cryptocurrencies at the time of going to press. The capitalization at that time was about $ 1.38 billion.

IOTA is based on a technology called “tangle” that is different from blockchain. Tangle does not use blocks (like a blockchain), but rather nodes of a directed acyclic graph.

In August, IOTA had already made headlines when a partnership with Fujitsu was announced (I reported in the blog). At the time, Fujitsu announced that IOTA would be introduced as a protocol standard in the company.

Last year, IOTA had to put up with criticism over network outages. The MIT Media Lab explained that similar things had not happened with Bitcoin or Ethereum. IOTA has these failures because of the necessary coordinator, which is a source of error, and shows that IOTA is not really decentralized.

In addition, a bug in the IOTA network was reported in July this year. This resulted in additional network difficulties.

IOTA's owners and users have been waiting impatiently for months for the compatibility of the Ledger wallet. This is evident from a discussion on Reddit held in May of this year.

IOTA announces compatibility with Ledger Wallet

Sources: Medium, MIT Media Lab, Reddit, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/iota-kuendigt-kompatibilitaet-mit-ledger-wallet-an/

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