A cryptocurrency wallet is any online or offline software that secures your private keys. It is that simple.
The blockchain protocol mandates regular coin release whenever validation of blocks happens. In the crypto world, you must secure your coin’s private since it legitimizes transactions within the blockchain network.
Ledger Nano S Wallets are Secure
There are many ways of storing these private keys. You can store them online but if you are desirous of that extra security edge, you can utilize a cold wallet. Ledger Nano S is one of them.
Ledger strongly advises Ledger Nano S users to update their devices’ firmware to 1.4.1.
Once Ledger Nano S owners update to version 1.4.1, users can enjoy the following features thanks to the ingenuity of Ledger developers:
- Because of BOLOS refactoring, users can now load up-to 18 different apps without affecting their cryptocurrency holdings.
- Users will notice that the device is faster because of device’s cache optimization
- They can now long press, for 3 seconds, both buttons on the device if they want to lock the screen. The screen will lock regardless of whether the dashboard or apps were in use.
- Users must confirm their 24 passphrases for back up assurance during on-boarding
On the security front, these are some of the updates:
- Ledger Nano S owners will freely verify data all loaded apps. In version 1.4.1, apps are split into 3 segment and 2 hashes are always calculated.
- Communication protocols can be supported from a single interface eliminating the need for external support mechanism that could compromise security.
- Thanks to SDK, device owners shall utilize their secure SDK for memory pointers comparison.
- Ledger Nano S owners will also notice that the number of cryptographic functions have been extended. There are new Elliptic curve support for SEC curves, Brainpool Curves, ANSSI Curve, Edwards Curves and Goldilocks’s curve.
- To tackle issues of malware spread especially for beginner users, Ledger Nano S version 1.4 will introduce custom certification authority during recovery mode only.