In the Crypto era, there are various Bitcoin and Altcoin development which leads to the development of Wallet Concept. Based on the people adaptability and growing technology different types of wallets are introduced in the market. But the Hardware Wallet is the only thing standing out because it gained the trust of the people by keeping their digital assets safely and securely.
What is Ledger Nano S?
There are various Cryptocurrency Hardware Wallet, Ledger Nano S is one among them. In the crypto platform, wallets became a mandatory thing and diverse wallets are developed. Among that, hardware wallets earned faith in the safety of digital assets. And this Ledger Nano S hardware wallet, popularity reached a peak in the Industry because it is huge usage among the peeps. This hardware wallet grabs the attention of global peeps because of its specialty.
This hardware wallet is an offline one, therefore blindly it indicates that the coins are stored in offline only. Which keeps the virtual assets like crypto tokens safe from hacking, theft, and key-logger. And the big advantage is an update of Firmware, which acts as a prevention barrier plus acts as a security card to avoid all threat towards the digital assets.
Why ledger Nano S preferred the most in this generation?
This Ledger Nano S cryptocurrency hardware wallet is known for its Top-Level security providence. And also because of it wide range of crypto support plus safety precautions method then it is a Multi- cryptocurrency hardware wallet that is currently in existence. These things, made this ledger become a demanding and preferable one in world-wide.
How Ledger Nano S evolved?
The Paris based company, Ledger launched this smart crypto security product in June 2016. Ledger Nano S has the Built-in app and peoples can also install 3-7 apps, those apps could be leading cryptocurrency in the Industry. The app is supported by chrome and android smartphones too. This made things become user-friendly for wallet users.
Technical Specification of Ledger Nano S
Specification rate the product and the extraordinary spec of this Ledger Nano S hardware wallet is mentioned below,
l Screen : OLED display
l Battery : No
l Button on device : Two
l Size : 56.95mmX17.44mmX9.1mm
l Weight : 16.2g
l Material : Brushed stainless steel and plastic
l Connector : USB type Micro-B
l Chips : ST31H320 (secure) + STM32F042
l Certification : CC EAL5+
l Compatibility : Windows 8+, macOS10.8+, Linux, Android 7+
Enhanced features of Ledger Nano S
These following distinctive features of the Ledger Nano S, made it stand out from other hardware wallets. They are,
Ø Multi Crypto Wallet
Ø Multi App Support
Ø Update Firmware
Ø Security
Ø Easy Backup
Ø Simplicity
Easy Set-up way
Ledger Nano S set-up way is an easy and simple one. It is described below, through the step-by-step process,
* Plugin
* Choose Pin code
* Create Recovery phrase
* App Installation
* Transfer asset to your wallet
Transaction Process
The transaction occurs between two peoples by sending the public key to the corresponding address. Below we can see the detail transaction process with an example.
Lets we can keep the,
Sender as A
Receiver as B
Commoner as C
Step 1 ----> A encrypts the message sign with their private key.
Step 2 ----> Then A creates a special Value called Hash Output.
Step 3 ----> After that, A send the message to B using the public key.
Step 4 ----> Using public key & B’s private key, can be decrypted by B.
Even the C is active or not while the transfer occurring, the message cannot be hacked or theft or keylogger.
Recovery Concept
Like the bank account numbers, the private key of the digital assets must also be kept safe and should never and ever be shared with anyone.
Important parts to be remembered about the recovery concept.
l Once the wallet or public key is lost, no issues.
l They can be restored by the private key.
l But if the private key is lost, everything is lost and nothing can be restored.
Pros and Cons of Ledger Nano S
Here is both the advantage as well as disadvantages of Ledger Nano S Hardware Wallet. See below its advantages first,
l It is a Multi Cryptocurrency Wallet
l Supports Multiple Crypto apps
l Installed in various desktop platforms as well as in android
l High security
l Display enhanced the safety feature
l Supports more than 1250+ crypto assert
l Memory
l Affordable cost
The Ledger Nano S Hardware wallet is the wise choice to store safely the digital asset in the Cryptocurrency world. Anyway, integration is an important thing whatever the Hardware Wallet is bought. Numerous Cryptocurrency Wallet Integration developers are available in the market but very few provide a successful output. Developcoins is one among them.
Developcoins - Cryptocurrency wallet Development Solution Provider!
Developcoins none other than Cryptocurrency Development Company, which has the skilled developers to offer excellent integration process with wonderful output. Developcoins know for its prime service. And they also offer their service at an affordable price now, grab the opportunity when it's available.
