Ledger Postpones Recover Launch
Ledger chose to delay the release of its key-recovery feature, Ledger Recover.
The Deets
• The Delay: Ledger holds back the launch of Ledger Recover.
• The Controversy: The community criticized sharing seed phrases with custodians.
• The Promise: Ledger vows to open-source the Ledger Recover code before launch.
The Bulk
The key-recovery feature, Ledger Recover, was set to offer users a means to store encrypted backups of their seed phrases. Ledger Recover was announced last week with the promise of enabling Ledger owners to restore their private keys.
The backlash from the cryptocurrency community was immediate and severe. Critics pointed out that the code for the Recover feature is not open-source, thus preventing any possibility of auditing the safety of Ledger Recover.
In response to the uproar, Ledger CEO Pascal Gauthier issued a letter to users stating that the firm would not introduce the new feature before releasing the code for it.
🎤 Founder Feedback
Ledger's vision is that there will be more critical digital assets in the future, and in order for these assets to reach mass markets, we need to make self-custody ever more secure and easy to use.Pascal Gauthier, Ledger CEO
🔜 What's Next?
Ledger will be hosting a Twitter Spaces session today at 12:30 pm ET where they will discuss the community's concerns.
🧠 Learn More
