A huge number of things are going incredibly good for ledger these days. Bitcoin, ether and other cryptocurrencies stirring the people’s attention again. Accordingly, French startup raised $7 million series around the world to make hardware security devices universal.
MAIF Avenir, XAnge, Wicklow Capital, GDTRE, Libertus Capital, cryptocurrency Group. The Whittemore Collection, Kima Ventures, BHB Network and Nicolas Pinto contributed to today’s subsidy round.
Well, you have knowledge about cryptocurrencies, you definitely have the idea that digital currencies’ start-ups centralize everything. A large number of scams are there. In addition, no need to trust any startup’s security team, do it to your own.
You have the ability to run your own Bitcoin wallet on your computer. But, hackers are still there to snatch your money from the computer or from a wallet, so be aware of scams.
Ledger makes a number of hardware wallets for several currencies. Actually, these tiny devices are the secure element. Furthermore, you also have a smart phone as Apple Pay or Android Pay with the same performance.
Ledger runs few tasks in a straight line on the secure element. It makes it more secure and then runs an app on your devices entirely. In this way, you will have the power to protect your bitcoins. Nobody can reach to the private keys on devices. In addition, devices repetitively check the honor of the firmware.
The company makes it sure that nobody has the ability to compromise the devices during production procedure. Co-founder Eric Larchevêque said, “When we manufacture the devices, all chips receive a Ledger certificate.” And, “When the device boots up, the computer sends a security challenge and the device answers.”
Smart devices & cost:
Ledger Nano S with tiny display and size of USB key is a well-known device in the digital market. Before the transactions take place from your computer, you need to confirm that a transaction on the device by entering your PIN code first. In this way, if your computer gets compromised, transaction order will not over on device and you will not able to confirm that transaction.
The Company also making the ledger-blue. The Ledger Nano S’s cost is about €70 although blue cost is €275.
Crypto-wallets still newbie in the digital market. Accordingly, ledger sells more than 50,000 wallets and meet the company’s expectation by an inclusive margin.
By running a protected operating system on the secure element, there are other possible applications. For example, ledger might sell chips so that companies working in complex industries by making sure that server wasn’t compromised. Companies rising there money by introducing new hardware devices.