Hardware crypto wallet firm Ledger has faced harsh criticism from the crypto community after announcing its “Recover” service, which is an optional paid feature that will eventually allow users to back up and restore their private seed phrase.
Due to concerns expressed about the security elements of Ledger Recover, the hardware wallet manufacturer decided to postpone the launch of its service. On May 23, Charles Guillemet, chief technology officer of Ledger, explained in a Twitter thread that Ledger will “accelerate our open-sourcing roadmap to bring more verifiability to everything we do.”
Ledger’s mission is, and will always be, to provide our users with the right tools to own their digital value securely.
We have decided to accelerate our open-sourcing roadmap to bring more verifiability to everything we do.
A thread pic.twitter.com/Dv0jBCM4Ys
— Charles Guillemet (@P3b7_) May 23, 2023
Ledger CEO Pascal Gauthier told Cointelegraph that Ledger Recover would launch once the company can open-source the code behind the Recover protocol. He further stressed that the new service is optional:
“Right now, the overwhelming majority of crypto users hold their funds on exchanges or software wallets, which are not secure. However, many people find managing their 24 words daunting or too complex. Ledger Recover — which again is completely…
