Ledger rolls out Ledger Nano X with increased storage capacity
Ledger, the crypto wallet maker, has launched the new version of its Ledger Nano S. Named Ledger Nano X, the new upgrade boasts Bluetooth capabilities and added features. The company revealed its latest product at the annual Consumer Electronics Show on Sunday at Las Vegas, according to a report. The Ledger Live mobile app will be available on Google Play and iTunes on Jan. 16, according to the company.
The added Bluetooth feature signifies that Nano X can be used with mobile devices improving the user experience. “The fact that we have a mobile application and it works with the Nano X is really the big evolution of the hardware for this lineup,” Ledger CEO, Eric Larchevêque.
The device also comes with a comparatively bigger screen. A bigger screen is advantageous to the device because many of the security related actions performed on the device itself.
Ledger devices stores private keys on its hardware wallet. However, an application installed on an external computing device is required to execute transactions. When connected to Bluetooth the security of the new device is possible using the mobile’s form factor.
Ledger X is a more advanced device according to Larchevêque. He didn’t comment on the price of Ledger Nano X but said that the prices of Ledger Nano S will depreciate when the new product goes live. According to the company website, more than 1.3 million ledger devices have been sold.
The new hardware wallet has increased memory for storing private keys. The company has introduced a new requirement for storing private keys belonging to different tokens. As tokens are increasing in the cryptoverse it is necessary that the device should contain different software to interact with different protocols. Therefore, the company has decided to have individual apps for different protocols to help execute transactions.
“We have lots of third-party developers who are developing applications. We want to make sure that these applications can only sign transactions for their own private key,” said Larchevêque. This also means that a user using an app can’t sign a transaction to the wrong protocol.
The newly launched device can store apps for up to 100 crypto assets. This implies that the new device has six times the storage capacity of Ledger Nano S.
Image via Shutterstock