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Losing the trust of users is very important. Ledger case is a lesson for all security companies 2 comments

The last thing a company like Ledger could afford was losing the trust of its users. The ‘Recover’ update was widely criticized, but the company backed out. After a week of doubts as to whether users should continue to use these cold wallets to store their private keys, Ledger’s own administrators have announced that they take what happened well.

Surprises, fair ones. Pascal Gauthier, CEO of Ledger, recognized “This experience has been very humiliating. We miscommunicated about the launch of this product; we didn’t want to confuse people. So we understand the community’s direction and apologize for the miscommunication.”

The problem with this update is what it represents, not what it actually offers that is optional. Ledger’s promise is that cryptocurrencies can be properly monitored, but if the installation of a firmware allows this information to be uploaded to the cloud, it means that it is possible to access this physical accessory via software. It’s a possibility that has baffled Ledger users and left many wondering whether to continue using it.

Release the code to calm the environment. Open source is vital, but it also has its foothold. When things don’t go the way you think, embracing the free option is often welcome. That’s what Ledger did, announcing it would accelerate its plans to release the underlying code of the operating system’s components and Ledger ‘Recover’ as well as halting the update.

This release will not happen “until the job is complete and the code is inspected”.

Pascal Gauthier Ledger's tweet

CTO targets crypto experts. Charles Guillemet goes further and targets the most technical and expert users. The idea is that if you can convince the most advanced users that your system is secure, you will likely be able to build trust among the rest of the users.

HE Ledger CTO explains In the next few days the ‘whitepaper’ of the ‘Recovery’ update will be published and the working method will be explained in detail.

do it yourself Betting on open source also allows developers to create their own backup copies in the cloud with their own server instead of the one offered by Ledger. A possibility that could convince users who want to keep their private keys privately.

Image | Amjith S.

on Xataka | The “father of the iPod” creates the most advanced physical wallet: a mini e-book to store and view everything related to cryptocurrencies

Source: Xataka



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