Ledger, a major hardware cryptocurrency wallet, introduced an offline tool for private recovery key to help users regain access to their crypto purse without relying on cloud-based services or personal data.
Ledger Recovery Key is an offline physical recovery tool that allows ledger flex or ledger stax users to store their Private keys On an intelligent card connected to the NFC, the firm said in an announcement shared with the cointelegraph.
Not like Ledger The Key Product has previously been released, Ledger RecoverStoring encrypted fragments of recovery phrases in cloud-based security modules, the Ledger Recovery Key is always offline and protected by its own PIN.
While being optional with Ledger Wallet users, the Ledger Recovery Key does not require identity verification or the collection of personal details, as the Ledger Recover does.
Private key recovery by taping a card
The Ledger Recovery Key will specifically allow users to recover access to their properties by simply tapping the smart card and entering a pin.
Exclusively supporting the NFC-connecting Ledger Flex and Ledger Stax Wallets, the Ledger Recovery Key directly connects Ledger devices with safe NFC wireless channels without mediator, the company said in the announcement.
The company said the Ledger Recovery Key was built with a safe element, the main layer of security and the same technology applied by Ledger Wallet devices.
Open resource technology
As part of Ledger’s transparency pledge, the Ledger Recovery Key application application is open-sourced to Girub and has its own white paper.
The tool underwent internal security trial with Donjon, the company’s White Hat Hater team, and has been -externally that the cybersecurity firm Synacktiv, among others.
“We have received excessive positive comments from security researchers and industry leaders, and we are excited to reveal it to the world for further comment ahead of its launch soon,” ledger’s chief ledger Charles Guillemet, in the announcement.
Self-custody is not no risks
Ledger’s latest recovery tool aims to improve the availability of Self -customodya form of storing crypto assets such as Bitcoin (Btc) without relying on third-party providers.
While Crypto holders allow to “become their own bank” by providing single responsibilities for safely storing a private key to accessing their properties, self-storage solutions are long associated with risks such as key loss or theft.
Many companies have tried to solve this problem by introducing Nothing Self-Customial Walletso Physical Solutions in Backup such as metal-proof plates or more sophisticated backup methods such as Backup of Shamir.
Related: Crypto user attacked in France in Ledger Hardware Wallet – Report
In 2023, Ledger introduced another option for recovering keys, a paid cloud -based solution called Ledger Recover. The Service temporari In the midst of backlash from the community because of concerns about third-party entities, but continues to operate.
Despite a tough start, according to the company, Ledger Recover performs well and continues to grow as more new users enter the Ledger ecosystem.
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