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- Ledger releases an open-source white paper for its upcoming seed recovery tool, addressing concerns and emphasizing its security.
- The white paper provides technical details on Ledger Recover’s backup and restoration solution, including operational flows and cryptographic protocol.
Ledger, a leading provider of hardware cryptocurrency wallets, is taking steps to address concerns surrounding its seed recovery tool by releasing an open-source white paper. In a recent Twitter announcement, Ledger’s chief technology officer, Charles Guillemet, shared that the upcoming service, provided by Coincover, is expected to launch in Q4 2023. The key takeaway from the white paper is its assurance of “100% security,” as Guillemet emphasized. He invited users to examine the technical workings of the service themselves.
đź“°Today, we are publishing the Ledger Recover White Paper, a key step in allowing anyone to audit the cryptographic protocols.
This builds on the over 150 apps and other open-source enablement Ledger has already implemented.
Don’t trust, verify.🧵 pic.twitter.com/SbjDQRYCQM
— Charles Guillemet (@P3b7_) June 21, 2023
The Ledger Recover white paper, available on GitHub, provides a comprehensive 34-page document offering a detailed technical overview of Ledger’s solution for backing up and restoring the seed of their hardware wallets. It outlines three primary operational flows: backing up the seed, restoring it on a new device, and securely deleting backups. Additionally, the white paper delves into the system design and cryptographic protocol employed by Ledger Recover.
One notable implementation discussed in the white paper involves splitting the seed into shares using Shamir backup, an existing private key distributing technology. The white paper emphasizes that having fewer than the required number of shares does not provide any information about the seed, reinforcing the security measures in place.
Furthermore, the white paper emphasizes the ability of users to independently run the protocol, underscoring Ledger’s commitment to self-custody and highlighting the flexibility of the solution.
The introduction of Ledger’s seed recovery tool faced significant criticism from the crypto community. Concerns were raised by industry players such as Mudit Gupta from Polygon Labs, who highlighted potential vulnerabilities in Ledger Recovery’s security. Binance founder and CEO, Changpeng Zhao, also questioned the benefits of the tool, expressing concerns about the seed leaving the device.
In response to the criticism, Guillemet reiterated that the new seed recovery solution does not compromise the security of Ledger devices. He encouraged developers, researchers, and crypto enthusiasts to review the white paper to gain a comprehensive understanding of the wallet’s security mechanisms.
As Ledger aims to address the backlash and improve transparency, the release of the white paper showcases the company’s commitment to providing users with a secure and reliable seed recovery tool. By sharing technical details and cryptographic protocols, Ledger aims to rebuild trust and reinforce its dedication to protecting users’ assets.
