Ledger Pauses Key Recovery Service and Commits to Open-Source Code
- Ledger delays launch of Ledger Recover feature due to community backlash and apologizes for miscommunication.
- Ledger commits to open-sourcing more of its software code, starting with core components and Ledger Recover.
- Ledger aims to regain trust by providing transparency, allowing experts to review the code, and prioritizing community concerns.
Ledger, a company that makes hardware wallets for cryptocurrencies
has decided to delay the launch of a feature called Ledger Recover.
They made this decision because they received a lot of criticism from the crypto community. The CEO of Ledger, Pascal Gauthier, said that they made a mistake in how they communicated about the feature and apologized for it.
To address the concerns of the community and regain their trust, Ledger has decided to make more of their software code open-source. This means that anyone can look at the code and understand how it works. They will start by making the code for the core parts of their software and Ledger Recover open-source. They want to be more transparent and show the community that they have nothing to hide.
The Chief Technology Officer of Ledger, Charles Guillemet, said that they will also release a document called a white paper that explains in detail how the Ledger Recover feature works. They will also write blog posts to provide more technical information. This way, experts in cryptography and security can review the feature and make sure it is safe and reliable. Ledger wants to give people the opportunity to build their own backup systems for their cryptocurrency instead of relying only on Ledger's system.
Ledger Responds to Criticism, Accelerates Open-Source Plans to Rebuild Trust
Ledger had already planned to make more of their code open-source, but because of the recent criticism, they have decided to speed up the process. They want to show the community that they are listening and taking their concerns seriously.
The controversy started when Ledger announced that it would introduce a feature called Ledger Recover. This feature would allow users who lost their secret codes to get them back. But some people in the crypto community were worried that this could make it easier for someone to steal their codes.
Ledger is taking responsibility for their mistake and is committed to being more transparent. They want to learn from this experience and improve their communication in the future. Their goal is to rebuild trust with the crypto community and ensure that their products are secure and reliable.
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