Ledger, a company that makes physical cryptocurrency and non-fungible token wallets similar to USB drives or other storage devices, is celebrating its 10th anniversary this week since its inception. To mark this special occasion, Ledger has launched the Ledger Stax and Ledger Flex, a new category of devices with secure touch screens.
Ledger Marks 10 Years Since Launch
In an August 13 blog post, Ledger confirmed it’s celebrating ten years since its inception in 2014. To mark this milestone, Ledger has launched Ledger Stax and Flex, making up a new category of crypto and non-fungible token hardware devices fitted with secure touch screens.
Launched in 2014, Ledger is a creator of crypto and non-fungible token hardware wallets. The company’s hardware wallets are multicurrency wallets that store private keys for NFTs and cryptocurrencies offline. Ledger is renowned for its three hardware wallets: the Ledger Nano S Plus, the Ledger Nano X, and the Ledger Stax.
Ledger is focused on creating crypto and NFT hardware wallets that are safe and secure for use with digital assets. Headquartered in France, the company was launched by eight experts with backgrounds in embedded security, cryptocurrencies, and entrepreneurship. The company’s vision is to create secure solutions for blockchain applications.
How Does Ledger Hardware Wallets Work?
Ledger requires crypto and non-fungible token holders to use private keys to access their digital assets. These private keys, which feature long alphanumeric strings of numbers, protect users from thieves and hackers. To fix concerns about private critical security and longevity, Ledger developers have created other types of hardware wallets, including the latest hardware devices fitted with secure touch screens.
Ledger offers two hardware wallets: cold and non-custodial. These two multicurrency crypto and NFT wallets store private keys offline on a secure hardware device. These two hardware wallets are also device-based, meaning they use storage mechanisms (like USB drives) to store private keys, thereby making it difficult for hackers to access them from an online location.
To make its hardware more secure, Ledger has fitted all its products with a secure element and a proprietary security operating system designed to protect a user’s crypto and NFT assets. The system generates a 24-word, 96-character backup recovery phrase for users to access their crypto and NFT if the device is lost or stolen.
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