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Ledger Announces Delay of Ledger Recovery Service

In a recent announcement, Ledger, a prominent crypto hardware wallet provider, addressed concerns regarding its key recovery feature, Ledger Recover, and outlined its path forward. The company acknowledges unintentional miscommunication and apologizes for any confusion caused among its customers. Ledger emphasizes its commitment to security, ease of use, and the growing need for self-sovereignty in the world of digital assets.

Ledger has been at the forefront of securing digital assets and providing users with easy-to-use experiences without compromising on security. However, the recent communication mishap surrounding Ledger Recover has prompted the company to reevaluate its approach and improve its future communication strategies.

Ledger recognizes the importance of a service like Ledger Recover, particularly in addressing the pain point of seed phrase recovery. As many crypto users still face challenges in self-custody adoption, Ledger aims to empower individuals to have complete control over their digital value. The company believes that crypto’s ethos lies in self-sovereignty and self-custody, and it is committed to making this a reality for everyone.

Moving forward, Ledger has outlined its solution: a continued focus on security and increased transparency. Security has always been a top priority for Ledger, and the company never compromises in this regard. With nearly a decade of experience in securing private keys and being the only certified hardware wallet endorsed by Consumer Reports, Ledger is dedicated to maintaining the highest standards of security. The Donjon security team, operating autonomously from Ledger’s leadership, ensures constant review and improvement of the firmware and hardware updates.

Transparency is another crucial aspect that Ledger aims to enhance. While Ledger already has a significant portion of its codebase open source, it acknowledges that open source is not solely a security feature but also a transparency feature. To bolster developers’ confidence and allow security experts to review the code, Ledger plans to accelerate its open sourcing roadmap.

The company intends to make as much of the Ledger operating system code open source as possible, starting with core components and Ledger Recover. Additionally, the Ledger Recover protocol will also be open sourced, granting the community greater choice and control over self-custody. The roadmap for open sourcing will be shared and regularly updated by the CTO and engineering team.

The company assures its customers that these changes in no way compromise the security of their devices. Ledger encourages users to enable additional security measures such as the passphrase feature, which remains separate from Ledger Recover and provides an extra layer of trustless security.

Ledger acknowledges the feedback from its customers and expresses gratitude for helping the company improve. By implementing these changes and embracing transparency, Ledger aims to strengthen its community and fulfill its mission of making crypto secure and easy to use for all.

Ledger’s Chairman and CEO, Pascal Gauthier, remains committed to the company’s vision and invites the community to join them on this onward journey toward a more secure and user-friendly crypto ecosystem.

In conclusion, Ledger’s announcement signifies a significant step toward enhanced transparency and security in the realm of crypto hardware wallets. By delaying the release of Ledger Recover and accelerating the open sourcing of their codebase, the company aims to provide its users with more control, choice, and peace of mind in managing their digital assets.

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