According to recent IOTA news, MIOTA has now officially integrated with Ledger’s hardware wallet. The announcement, which came via blog post and Twitter, states that the wallet is also compatible with Romeo wallet, as well as Trinity wallet.
— IOTA (@iotatoken) November 2, 2018
The integration is vital due to the fact that it allows users to isolate their private account seeds from their devices such as smartphones and computers. As a result, the security is enhanced, and a chance of a third party gaining access to these accounts is reduced.
The collaboration will focus on security
Eric Larcheveque, Ledger’s CEO, stated that both IOTA and Ledger aim to provide their users with the security of the highest level. IOTA news that announced the collaboration between the two sparked development of a compatibility feature that would allow users to store, access, and manage their tokens on Ledger’s wallet.
The Ledger Nano S hardware wallet is created with an operating system called BOLOS. This is a system that is integrated into a secure chip. A lot of people are already familiar with this type of chip, as this exact one is used for passports, credit cards, and alike.
The final product is a platform resistant to tampering, and capable of providing a secure environment for data and various apps. Considering that hacking the secure chips is a very difficult process, devices are additionally secured. The fact that hardware wallets are usually used as cold wallets increases the security level even more, and this is what has allowed Ledger to develop such an excellent reputation as a strong, secure wallet in the first place.
IOTA’s co-founder, David Sonstebo, also commented that the team is excited to work with Ledger, but also proud of the community that has made the collaboration possible.
Ledger started off in 2014 as a security and infrastructure solution for blockchain and crypto. Since then, it had groundbreaking solutions that allowed it to rise up to the position of this industry leader. It has headquarters in San Francisco and Paris, and it employs over 200 professional developers and experts for various products and services.
The IOTA news that announced MIOTA being supported by Ledger came only a few weeks after Ledger adopted two other coins — Waves and EOS. In addition, Ledger also works on expanding its Ledger Live app, which is available on Linux, Windows, and Mac, and it serves as an all-in-one app for its users.
As for IOTA, the coin has yet to show any serious price jump caused by the new development. At the time of writing, IOTA is trading in red (by a fraction), with a price of $0.5029 per coin, and a 0.75% decrease in the last 24 hours. IOTA has made significant progress in 2018 when it comes to entering various collaborations. While the newest one is with Ledger, the biggest ones include different car makers who plan to use IOTA’s network for connecting new vehicles via the blockchain technology.
For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
The post IOTA News: IOTA Gains Support on New Hardware Wallet appeared first on Global Coin Report.
Read more at https://globalcoinreport.com/iota-new-hardware-wallet-support/
Globalcoinreport.com/ is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites.
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!