Monero: Coming to a Ledger Hard Wallet Near You!

Monero: Coming to a Ledger Hard Wallet Near You!

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Fantastic News! Privacy coin Monero (XMR) is practically ready for use on Ledger Wallet products. During an interview with Doug Polk on April 9th, Monero Core developer Riccardo Spagni confirmed that the integration had occurred previously and can be found as a “dev kit” on Ledger

“We are on Ledger already if you’ve got the dev kit,” he said. “I saw some commits happening today to fix a couple of small issues…I’d hope that probably alongside the Monero 0.12.1 release, there will be official Ledger support.”

Recently Spagni’s Twitter account displayed a picture of a Ledger Nano S running the dev kit for Monero and today’s announcement occurs nearly a week after the Monero hard fork.

 

 

 

Monero’s addition to Ledger validates Spagni’s promise to do whatever he could to protect small miners and shield the network from certain kinds of ASIC mining.

 

Last month multibillion dollar Chinese hardware developer Bitmain announced that the Antminer X3 ($12,000) and E3 ($800) were available for purchase on March 15th. Both are highly effective at mining but raise concerns amongst mining communities as the high start up cost for ASIC mining rigs price small operators mining with GPUs / CPUs out and centralize the mining of cryptocurrency into the hands of those who can afford to build massive mining farms.

 

Many developers and miners are afraid that ASICs have the potential to undermine cryptocurrency security through centralization which makes networks susceptible to manipulation and whatever other desires governments and companies might try an exert over cryptocurrencies. To combat against this, Monero altered its mining algorithm on April 6th.

At the moment this news has yet to have a positive impact on XMR price which has traded sideways under $180 for the last week.

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