It’s common knowledge that storing cryptocurrencies is a roadblock for many prospective investors. Ledger, a French startup focused on offering Bitcoin solutions, has attempted to solve this problem, launching (relatively) affordable, easy-to-use storage products. The firm stepped up its game even further just recently, as it launched its Nano X product.
Ledger Launches Nano X — Next Gen Crypto, Bitcoin Cold Storage
On Sunday, at 2019’s International CES conference, a world-renowned, tech-centric event located in Las Vegas, Ledger, one of the crypto industry’s most preeminent companies, launched the Nano X after hyping up the product for days.
The USB-esque device, which is near-identical lookswise to its predecessor, will allow users to store upwards of 1,100+ cryptocurrencies offline, including Bitcoin, Ethereum, and XRP. According to The Verge, this product’s internals is nearly a carbon copy of the previous Nano S’, save for the (controversial) Bluetooth feature that will allow Ledger clients to access their holdings on their mobile, and the increased storage space that will support dozens of applications (rather than the ~7 that fit on the Nano S).
CoinDesk claimed that Ledger CEO Eric Larchevêqu stated on the matter:
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… It’s a more advanced device.
Per the official Ledger announcement, shipping for the Nano X will purportedly start in March.
Although the launch of Ledger’s Nano X was seemingly done in good faith, some cynics have overtly expressed their skepticism with this fledgling product.
Just recently, a number of crypto-friendly “white hat” hackers from Wallet.fail revealed that the Nano X’s predecessor, the Nano S, was vulnerable to a security breach. While the attack has been discredited by Ledger, who claimed that the attack — near-impossible to pull off in the real world — wasn’t entirely successful, some have lost faith in the firm’s product roster entirely. And it seems that some fears have persisted, even in spite of the game-changing potential that the Nano X holds.
Considering that this new device offers Bluetooth, some critics, including leading Bitcoiner Udi Wertheimer, now believe that the Nano lineup will lose its status as the Fort Knox of the cryptocurrency world.
A Reddit user going by the moniker “TheCryptoMask” expressed these concerns on the official cryptocurrency subreddit. One of his fellow Redditors noted that the Nano X’s improved storage space could give space for malware to propagate.
Yet, these fears have since been mostly debunked by more technologically-astute cryptocurrency enthusiasts, who claimed that the aforementioned qualms won’t come to fruition. However, until Ledger officially ships product, no concrete conclusions can be issued regarding the cold storage solution.
Crypto & CES
Although the less security-conscious may think this news is mundane, Ledger’s new product launch underscores that cryptocurrencies have been doing their best to break into the traditional technology realm.
Larchevêque told CoinDesk that while its true CES isn’t inherently a show for crypto firms, the event organizers awarded the Nano X with its “Innovation Award in Cyber Security and Personal Privacy.”
Even Pundi X, a leading crypto startup, tried to grab the attention of CES-goers. The firm purportedly unveiled its new blockchain-centric phone, named Function X, at the event, which is supposedly better than the HTC Exodus that Live Coin Watch reported on previously.
Yet, contrary to popular belief, Samsung didn’t divulge its cryptocurrency mobile wallet offering at the technology show.