Since hardware wallet devices first came to pass in the Bitcoin ecosystem, the Trezor has been the one wallet to rule them all. Added security measures, such as the ability to visually confirm the correct receiving address on the device’s display, were always the key selling point of the Trezor, but Ledger may have now caught up to its rival with the Nano S.
While the Nano S does include a screen for verifying the receiving address before sending a transaction, that’s only part of the reason why it is a compelling alternative to the Trezor. The Nano S also has a lower price point ($65 compared to the $99 Trezor), and Ledger’s open SDK may lead to the development of a large number of new, dynamic applications for the hardware wallet.
While there are plenty of people who have no reason to switch to the Nano S from the Trezor, bitcoin holders purchasing new hardware wallets may find it hard to pass up the latest offering from Ledger.
The Use of a Secure Element