IOTA Foundation Announces Integration with Ledger Hardware Wallet
In a long-awaited partnership, IOTA private keys will be protected within the secure chips of Ledger devices.
The IOTA foundation announced a new partnership with Ledger, one of the leading producers of hardware wallets. IOTA technology will be integrated into the hardware wallets, giving users the ability to store the private key information in a device that adds another layer of protection from hackers.
“Providing the highest level of security and quality is a major focus at both Ledger and IOTA,” said Eric Larchevêque, CEO at Ledger.
“The collaboration between the teams created an immediate synergy concentrated on developing a compatibility feature allowing users to access, store and manage IOTA tokens on Ledger devices. We are thrilled to welcome IOTA onto the Ledger platform.”
Ledger Nano S and Ledger Blue will integrate with the Trinity wallet to extract the IOTA private seeds. On a hardware wallet, the seed is more securely protected and never exposed directly to online devices.
The IOTA (MIOTA) digital asset suffered from a lack of adequate wallets for months, even at the peak of the market. The asset, which commanded prices above $5, was not spared by the bear market. Despite the launch of the long-awaited Trinity wallet, MIOTA lost positions.
MIOTA prices have stagnated around $0.48, and the project still awaits the long-term fruits of deploying the Tangle data structure to the Internet of Things. The addition of a hardware wallet suggests some investors may want to hold onto their MIOTA assets, expecting future appreciation.
More than 73% of all MIOTA trades are concentrated on Binance, with a significant boost from Bitfinex trading in pairings with the USD and Tether (USDT). However, the presence of a fiat pair has not helped the asset enter a new rally stage, and MIOTA hovers sideways, like many other digital assets.
The IOTA project moved out of the spotlight after a series of market crashes, coinciding with criticisms against the technology. MIOTA is still down 92% from its peak price, and has failed to reignite interest.