![]() Mudit Gupta, Chief Information Security Officer at Polygon Labs, has voiced concerns about potential risks such as sim jacking and identity theft. This additional layer of protection ensures that user assets remain safeguarded, as the decryption keys are never shared with Ledger or any other party.ĭespite the clear focus on security and user choice, Ledger Recover has faced criticism from industry experts. To restore their keys, users must request the encrypted fragments from two of the three third-party entities, with the decryption process occurring exclusively on Ledger's Secure Element chip. These encrypted fragments are stored separately by three different trusted parties using Hardware Security Modules, guaranteeing enhanced security for the SRP. With Ledger Recover, the private key is encrypted and divided into three fragments using Shamir Secret Sharing, all executed on the Secure Element chip within the device. Ledger follows the industry-standard BIP39 protocol for SRP generation on all its devices, ensuring robust security measures. However, it is important to note that this feature is not enabled automatically through firmware updates, emphasizing user choice and control. With Ledger Recover, users have the option to subscribe to a backup service for their SRP. Furthermore, they can also perform partial unstaking via a single staking transfer.The SRP is a crucial component for securing crypto assets, and Ledger ensures that it is generated securely on the user's device, with no access available to the company. Moreover, the unstaking-related problem has additionally been resolved in the exclusive mechanism because the customers are now permitted to unstake their assets without any time restriction. The release of Stake 2.0 provided several exclusive features to eliminate the limitations that were present within the old one.įor example, in the new mechanism, delegating will have no requirement for unstaking at all. On the other hand, it reiterated that the team of developers operating on Ledger’s platform is at the moment busy finding a suitable solution to provide support for Stake 2.0. According to the company, the upgrade will now impact it. It disclosed that the present stake is secure and the consumers will keep on getting rewards. The platform then addressed those who are already using its staking services. In this respect, the Ledger clients are advised by the company to utilize TronScan (a blockchain explorer developed by Tron Network) to access Ledger.Īpart from that, the firm also mentioned that the consumers should ensure that they have installed the latest version v0.4.2 of the Tron application on their devices to do this. ![]() As per the crypto wallet platform, until the implementation of a conclusive solution for compatibility with Stake 2.0, the consumers will require to have a substitute. Read on □ /of7lG9ghNc- Ledger Support April 7, 2023Īlong with this, the platform assured the consumers that it has a temporary solution to deal with the current scenario in the meantime. ![]() However, Ledger Live doesn't support it yet.ĭon't worry, we have a solution for you to keep managing your $TRX stakes with your Ledger 1/5 □ Attention #TronNetwork users – Stake 2.0 is officially live on Exciting times for the community!
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