Bitcoin Magazine
Ledger Nano Gen5 introduces affordable hardware security for AI-powered digital identities
Ledger, the most popular cryptocurrency hardware wallet company and one of the oldest in the industry, has just announced its latest and most advanced security device, the Ledger Nano
Gen5. Taking the capabilities of previous Ledger devices to the next level, the Gen5 also achieves a surprisingly low price point compared to its predecessors.
Ledger has sold over “8 million devices in 165 countries, in over 10 languages, over 100 financial institutions and commercial brands,” according to a press release shared with Bitcoin Magazine. The company claims that “over 20% of the world’s crypto assets are protected by Ledger.”
Watch the live announcement live stream!
The Nano registry The Gen5 is 79.40mm tall, 53.35mm wide and 8.64mm thick with a Ledger EAL 6+ certified safety element (ST33K1M5). Its black and white E Ink® capacitive touch screen has a resolution of 2.76 inches, at 400 px by 300 px and 181 ppi. It weighs 46 grams and features USB-C, Bluetooth® 5.2 and NFC connectivity.
The device comes with a “registry recovery key” included in the box, a high-security smart card designed to back up the 12-24 word passphrase users create when setting up the device. The registry recovery key connects to devices like Gen5 via encrypted NFC, unlocking a new easy-to-use seed backup device, which is pin-pprotected at rest. Although the name of the Ledger Recovery Key is a bit confusing at first glance, the smart card is supposed to arrive blank upon initial purchase and be loaded by users during hardware wallet setup, when they generate their passphrase at home.
Signatories rather than hardware wallets
Ledger also decided to rebrand its devices as signers rather than hardware wallets, a move that breaks more than a decade of tradition in the cryptocurrency industry. This bold move reflects an industry shift towards protecting more than just cryptocurrency wealth: protecting digital identity from “an AI-accelerated world.” The rebranding also applies to their flagship software wallet, previously known as “Ledger Live,” now called Ledger Wallet.
The subtle change in wording could address confusion new users may experience when entering the cryptocurrency industry and perhaps aligns more closely with the functionality of these security devices and interfaces. However, it remains to be seen how users react. Ledger was clear that Gen5 simply expands its security offering to the world of identity, while it will “continue to operate as millions of people now know it” to operate, when it comes to protecting their crypto transactions.
Protect your digital identity
When it comes to identity, the world is going through a transformation. Physical ID cards are no longer sufficient; Multiple image generation models have demonstrated sufficient quality to fool identity systems, while identities stolen from major data attacks are regularly used to commit identity fraud. The only viable solution to the digital identity problem is strong encryption, and Ledger clearly recognizes this growing trend.
To support secure identities and logging capabilities, the Gen5 and its Ledger Security Key cards support the FIDO2 Passkeys standard that is spreading across the web. NFC, which stands for Near Field Communication, is a fairly secure short-range antenna, used in credit cards for decades, this standard is also quickly being adopted by crypto hardware wallets for the same reasons, it is easy to use for things like approving a registration, while at the same time providing a high degree of security, given its short range and simplicity.
Bluetooth is also integrated into the Gen5, giving the device a wider range of features. Bluetooth has also become a popular feature among hardware wallets and keysigners, although it is an often criticized feature, given the great complexity of its code and the long distance over which it can interact. Some hardware wallet devices even choose to ignore Bluetooth altogether. While the press release doesn’t explicitly address how Gen5 protects users from the risks introduced by Bluetooth, the industry standard is to be wary of the chip, separating it from other features and using it only for encrypted communications between devices.
On the interface front, the Gen5 supports advanced security features such as “Clear Signing” and “Transaction Check”, which is its beautiful E Ink® the touchscreen probably offers a natural and intuitive feel. The press release further explains Gen5’s new identity features, noting that “users can now connect their Ledger signer directly to the most popular dapps, like 1inch, for seamless and secure experiences,” adding that “Ledger is integrating Noah, known as Cash-To-Stablecoin, allowing users to quickly top up their wallet with fiat (USD or EUR) at no additional cost and convert them instantly into stablecoins (USDC)” Noah enables the “effortless” use of stablecoins for on-chain transactions, another rapidly growing trend.
High-end technology at an affordable price
When it comes to price, the Ledger Nano Gen5 is much more affordable than its predecessors, while still retaining the large touch screen that has defined new generations of Ledger devices. Coming in at more than half the price of the Ledger Stax, the Gen5 costs $179, a very competitive and affordable price among modern crypto hardware wallets.
Pascal Gauthier, President and CEO of Ledger, proudly noted in the press release that “the all-new Ledger Nano is built for today’s challenges and opportunities and ready for future ones. It’s the new signatory for everyone, available at an affordable price, with the best security and user interface on the market. The next generation of Ledger starts today.”
This post Ledger Nano Gen5 Debuts Affordable Hardware Security for AI-Powered Digital Identities first appeared in Bitcoin Magazine and is written by Juan Galt.