Ledger nano storage


#1

Is there any plans to make it compatible with a ledger nano system?


#2

Full disclosure: I’m not on the Cardano team, I just read a lot.

@Scotlad Not that we know of and there probably won’t. Why?

What’s important to understand is that the Daedalus wallet, the most secure solution to store your ADA so far, has a full node installed behind it. It will enable ADA holders to stake their coins when the Reward Era starts with Shelley in Q2 2018 See the roadmap, delegate them, or even earn transaction fees for those who hold large stakes. This is crucial because it is part of the decentralisation system that the Cardano Team is building. Keeping your node online will maintain the protocol in a decentralised fashion, and amplify the project’s robustness. Daedalus may also very well be a part of the future voting system…

If everyone starts to store their coins in cold storage (Ledger Nano S, Trezor etc…) the protocol won’t be able to run… The Daedalus wallet’s node wouldn’t make sense anymore.

Again it is just an opinion, I just deduced it, I might be completely wrong. Fire away.


#3

Thanks for that insight into the wallet after the experience with iota I find it hard to trust an online wallet now. All the cryptocurrency I have stored so far won’t be touched till at least 2021.i might open a few for short term trading I was always told to never keep all your currencies on live wallets.


#4

Paper wallet is in the works. Although you can accomplish the same thing by saving your wallet seed in a safe and destroying the keys on the computer.

Maybe the CF can chime in here about Ledger support :wink:

IOHK is currently writing the library to support the Cardano cryptographic primitives; once that is done, many new things become possible.


#5

Great comment. I also read a lot.

Do you happen to have an idea as to what constitutes a large stake?

I’d also like to contribute by adding a relevantWhy Stake Matters link


#6

Unfortunately, we don 't know that yet…

On a side note, Charles himself mentioned yesterday on Reddit that Cardano was working with Ledger… He didn’t answer to my question so far regarding this future integration possibly weakening the decentralised system.


#7

Maybe use the ledger nano to sign the transaction of the ada wallet on your pc. And for restoring store the seed is kept on the nano through its own app. Now the nano is still central in all our transactions and the ada is kept in Daedalus so your funds can be part of staking.


#8

The more nodes the better, but, if you delegate your ADA to some staking pool, then go offline for a couple of years, there shouldn’t be a significant problem for the network as a whole.

The assumption has got to be that the economic incentive will keep enough Leaders online to operate the network efficiently. Well, not an assumption, but a design goal.

Now… I wonder if there could be some ADA reward for nodes who aren’t leaders, but contribute to operating the P2P network. Is that even worthwhile. Because if we allow every node to have a shot at being a Leader and getting a reward, then it’s all good, but if there are a finite number of leaders, then no one else has much incentive to use their bandwidth for the network.


#9

This thread is 1000 years old in blockchain time, but came across this post on Twitter today: https://twitter.com/IOHK_Richard/status/946839349915717632

This thread implies both ledger support AND plans for daedelus cold staking support if you read down the line


#10

So… It has been a long since last time i heard about the ledger nano s app. Any news? Rumour?


#11

No need for rumour, there’s an official Ledger roadmap: https://trello.com/c/rEK3saDK/71-cardano-support and Cardano roadmap: https://cardanoroadmap.com

Long known fact for now - to expect Ledger ~July\August


#12

cool! thanks a million, bro!