In light of the recent backlash from the crypto community, Ledger, a prominent hardware wallet company, has decided to postpone the launch of its Ledger Recover service. The decision came in response to a wave of criticism over the product’s transparency, security and potential for censorship.
The Ledger Recover service was originally designed to help cryptocurrency users securely manage self-custody of their digital assets and to facilitate migration from less secure environments such as exchanges or soft wallets. The vision was to provide a solution to a much-needed problem in the crypto space: the challenge of seed phrase recovery.
However, the way this service was announced led to a great deal of misunderstanding and criticism within the crypto community. In response to the uproar, Ledger CEO and Chairman Pascal Gauthier took to Twitter to clarify Ledger’s stance and apologize for the initial miscommunication.
“We never wanted to surprise you. Maximum guilt”, tweeted Gauthier. “The fact that you care so much really compels us to always do better in the future.”
The CEO also addressed the main concerns of the community, promising more transparency, better security and resistance against censorship. According to Gauthier, Ledger has taken significant steps to address the issues raised and looks forward to sharing a refined version of Ledger Recover.
In a bid to increase transparency, the company announced plans to open up Ledger Recover and openly communicate about its open source roadmap. The president further invited the community to a town hall meeting with company leaders to discuss the future path of Ledger Recover.
In a public letter, Gauthier explained Ledger’s commitment to transparency and security. He explained that Ledger has made significant strides in improving the security of digital assets and improving ease of use. He reiterated the importance of Ledger Recover for those looking to exercise self-custody of their digital assets, while noting the company’s strong stance on security.
The CEO also revealed the company’s new strategy to increase transparency by accelerating its open source roadmap. This plan will include basic open source components of the Ledger OS and will only release Ledger Recover after completing this task. ledger recovery protocol It will also be open source, giving users more options regarding their self-custody.
Gauthier reassured users of the Ledger’s commitment to security, stating, “We are expediting a roadmap that has been in progress, and the security of your Ledger remains unchanged regardless.”
The CEO concluded his letter by expressing his gratitude to the crypto community for their feedback and reaffirmed the company’s mission to make crypto secure and easy to use. While the release of Ledger Recover has been delayed, Ledger’s response has shown a commitment to addressing community concerns and improving their service based on feedback.
