Secret

Nano

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 <p>Hardware <a rel="noopener noreferrer nofollow" title="Wallet" href="https://thebittimes.com/tag/wallet.html">Wallet</a> provider <a rel="noopener noreferrer nofollow" title="Ledger" href="https://thebittimes.com/tag/ledger.html">Ledger</a> has launched its cloud-based private key recovery service, <a rel="noopener noreferrer nofollow" title="Ledger" href="https://thebittimes.com/tag/ledger.html">Ledger</a> Recover, despite facing months of criticism from the crypto community.</p>
 <p>Announced on October 24, <a rel="noopener noreferrer nofollow" title="Ledger" href="https://thebittimes.com/tag/ledger.html">Ledger</a> Recover allows users to back up their Secret Recovery Phrase (SRP), the 24-word passcode that controls access to crypto assets, through an identity-based recovery system. The subscription service, priced at $9.99 per month, aims to give users an extra layer of protection if their SRP is ever lost.</p>
 <p><strong>Also read:&nbsp;Polygon (MATIC) Price Prediction: October End 2023</strong></p>
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 <p>Ledger Recover was developed alongside the blockchain security platform Coincover and is initially compatible with the Nano X wallet. The wallet manufacturer plans to integrate the recovery solution later with the upcoming Stax and Nano S Plus.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="680" height="383" src="https://cdn.thebittimes.com/images/2023/10/25/c552ea59e71dbb09753fc39b7260f622.webp" alt class="wp-image-116949" srcset="https://cdn.thebittimes.com/images/2023/10/25/c552ea59e71dbb09753fc39b7260f622.webp 680w, https://cdn.thebittimes.com/images/2023/10/25/c552ea59e71dbb09753fc39b7260f622.webp 300w, https://cdn.thebittimes.com/images/2023/10/25/c552ea59e71dbb09753fc39b7260f622.webp 380w, https://cdn.thebittimes.com/images/2023/10/25/c552ea59e71dbb09753fc39b7260f622.webp 550w" sizes="(max-width: 680px) 100vw, 680px">
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 <h2 class="wp-block-heading" id="h-the-launch-comes-after-ledger-paused-the-recovery-feature">The launch comes after Ledger paused the recovery feature</h2>
 <p>The launch comes after the team paused <a rel="noopener noreferrer nofollow" title="Ledger" href="https://thebittimes.com/tag/ledger.html">Ledger</a> Recover earlier this year due to significant backlash over security concerns. These concerns arose around a cloud-based recovery system. Critics argued this increased vulnerability. However, the <a rel="noopener noreferrer nofollow" title="Wallet" href="https://thebittimes.com/tag/wallet.html">Wallet</a> manufacturer emphasized that <a rel="noopener noreferrer nofollow" title="Ledger" href="https://thebittimes.com/tag/ledger.html">Ledger</a> Recover is optional and does not change how existing <a rel="noopener noreferrer nofollow" title="Wallet" href="https://thebittimes.com/tag/wallet.html">Wallet</a>s work.</p>
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 <p><strong>Also read:&nbsp;Polygon (MATIC) Price Prediction: October End 2023</strong></p>
 <p>Ledger also stressed that identity verification for the key recovery service is not the same as centralized exchange KYC requirements. The platform emphasizes it is collecting less user information. The service is available to verified passport and ID holders in the U.S., Canada, the U.K., and the EU.</p>
 <p>According to Ledger CTO Charles Guillemet, Recover gives “an enhanced layer of resilience” for users who want a backup option if they lose their SRP. The company released Recover’s codebase on GitHub alongside the official launch to provide transparency.</p>
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<div class="cs-entry__tags">
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  <li>Ledger</li>
  <li>Wallet</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ledger-launches-cloud-based-key-recovery-despite-backlash-tbt67610.html">https://thebittimes.com/ledger-launches-cloud-based-key-recovery-despite-backlash-tbt67610.html</a></p>

Ledger Launches Cloud-Based Key Recovery Despite Backlash

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