IOTA Foundation Integrates Ledger Hardware Wallet For Secure Storage
Germany’s IOTA Foundation has partnered French hardware wallet maker Ledger to integrate its native IOTA tokens with Ledger’s hardware crypto wallets. This will help IOTA token holders to isolate their tokens from their computer with the help of Ledger’s Nano S hardware wallet.
The Ledger Nano S hardware wallet will enable users to protect the private keys that give access to their IOTA tokens in a secure chip, which is the same as the one used for credit cards or passports.
Ledger wallets are built with a proprietary operating system (OS) called BOLOS, which is integrated into the secure chip.
The integration of the Ledger hardware wallets with the IOTA Trinity Wallet and Romeo Wallet will enable users to protect their user key for their account by isolating it from their computer or smartphone, providing another layer of security from hackers.
The user key allows users to access, store and manage IOTA tokens on Ledger devices. Users will be able to validate transactions on their Ledger hardware wallet as part of the security protocol.
Crypto wallet startup Blockchain recently partnered Ledger to develop an exclusively compatible custom hardware wallet called the “Blockchain Lockbox” to integrate with its existing online wallet. The wallet provider currently supports Bitcoin (BTC), Ether (ETH) and Bitcoin Cash (BCH).
It will allow Luxembourg-based Blockchain’s wallet users to store crypto assets offline through the integration of cryptocurrency hardware and software.
The hardware wallet is a device that is independent of the PC or smartphone connected to the online network and manages the private key by the user, in order to avoid the risk of leakage of the private key by unauthorized access to the online server.
IOTA Foundation is a non-profit foundation focused on the development of distributed ledger technology and permissionless ecosystem, which moves beyond blockchain. It is designed to be scalable with zero cost transaction fees and data integrity to power the future of the Internet of Things (IoT).
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