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Major hardware cryptocurrency wallet providers Ledger and Trezor have released new iterations of wallets that give users more options to protect their assets through custom escrow.
Ledger based in Paris introduced its latest device, the Ledger Nano Gen5, on Thursday. In a significant move, the company has dropped the term “hardware wallet” entirely and now refers to all of its devices as “ledger signers.”
Competing hardware wallet company Trezor, also based in Prague released its Trezor Safe 7 earlier this week, describing the device as its first quantum-ready hardware wallet.
As Ledger and Trezor delivered self care device for over a decade, Cointelegraph took a closer look at their latest wallets and broke down key updates, new features and security improvements.
The Ledger update brings several brand new features, including the rebranding of the Ledger Live app to Ledger Wallet and introducing Ledger Multisig, solution tool blind signing vulnerability in a multisig ecosystem.
The new Ledger signer — Nano Gen5 — includes Ledger recovery key issued in Junepreviously supported Bluetooth connectivity and a larger screen. The price of the device is 179 dollars in the US and 179 euros in Europe.
“Ledger Nano brings an enhanced user experience from our secure touchscreen signers, Ledger Flex and Ledger Stax, in a more affordable package,” a Ledger spokesperson told Cointelegraph.
“The larger screen compared to the Nano S Plus and Nano X allows for a more intuitive interface as well as optimal support for clear signing and transaction review,” the representative said.
Continuation of his Design approach inspired by Applethe development of the new Ledger device once again tapped iPod creator Tony Fadell, who enlisted Apple icon designer Susan Kare to create an exclusive badge design for the new Ledger signatory.
The new Trezor Safe 7 is a new generation hardware wallet with dual security features, Bluetooth, wireless charging and quantum design.
The dual-chip design combines Tropic Square’s auditable TROPIC01 chip with an NDA-free EAL6+ secondary, while the addition of Bluetooth makes the Safe 7 the first Trezor wallet capable of wirelessly connecting to iPhones and other devices. The price of the wallet is 249 euros.
Trezor Safe 7’s “quantum readiness” means that the device is “technically capable of receiving post-quantum updates when the time comes,” Trezor COO Danny Sanders told Cointelegraph.
“Previous Trezor wallets, like all devices currently on the market, do not have a quantum-ready architecture,” Sanders said, emphasizing Trezor’s effort to bring new meaning to hardware wallets that are “built to last.”
Related: Google announces quantum advantage, 13,000 times faster than supercomputers
Quantum computing is still in its very early stages, he added, predicting that it will be a long time before it poses “a real threat to existing cryptographic standards.”
Despite both Ledger and Trezor having introduced significant updates to their own technology, their previous wallets are still functional.
“We don’t design wallets with the expectation that users will collect them all,” said Trezor’s Sanders, stressing that meeting the diverse needs of users is the company’s top priority.
Sanders said all Trezor wallets are fully supported and continue to benefit from ongoing updates and security improvements.
“Ledger has never released an update that would render any legacy device obsolete,” a Ledger spokesperson told Cointelegraph, adding that “there is always a point where it is no longer possible to provide updates and support new features for legacy products.”
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