Some interesting developments are happening with IOTA Foundation, a non-profit organization, in line with Parris, Ledger's security solutions and digital coin infrastructure provider. The two joined together to integrate IOTA digital coins with security companies for cryptocurrency hardware portfolios. This is a crucial development considering that hackers have stolen more than $ 1 billion in the current virtual asset market.
Protect private keys
In a blog to send, the foundation stated that the Parri Nano S hardware portfolio would allow users to protect private keys. Ledger will provide access to digital coins in a high-tech secure chip integrating with the IOTA Trinity and Romeo wallets. This will also disconnect the user account key from the smartphone and the computer. This is done by offering an additional level of security that prevents hackers from hacking user accounts.
As for users, they should authorize transactions on their Nano S hardware portfolio. This takes place as part of the procedure for increased security as customers attach great importance to the problem. This is also quite evident when Ledger's CEO, Eric Larcheveque, stressed that his main goal was to offer not only the highest quality, but also the levels of security in both companies. He believes that the collaboration between the two immediately established a synergy in the creation of compatibility features.
The IOTA CEO indicated that the feature allows users to gain access to the storage and management of their digital currencies on Parris devices. Nano S portfolios are created through a single operating system. This is treated as BOLOS and is combined with a security chip. The company revealed that the chip, which is EAL5 + certified, is used in the portfolio is very similar to that used for passports or credit cards.
The portfolio is not only an anti-tampering platform, but also has the ability to host data and apps securely in line with security requirements and pre-authorized rules. Therefore, it would not be an easy task for anyone to hack because of the secure chip. However, even amateurs could access if they are generic controllers. IOTA is known as open source distributed ledger technology (DLP). The foundation is eager to look beyond the blockchain technology.
IOTA is also scalable without additional costs for cost transactions. Likewise, it could scale data integrity to drive the future of the Internet of Things (IoT). The co-founder and co-founder of the foundation, David Sonstebo, stated
"Hardware portfolios are considered the safest way to store cryptocurrencies.In IOTA we are committed to providing the safest and safest stand-alone cryptocurrency portfolio.The Trinity portfolio is on track to meet this commitment, and today we are proud to announce the next step in the journey. "
Emphasizing that Ledger has earned a reputation; he said that reliability and safety made it a perfect choice for integration with IOTA's Trinity. He added that without the contribution of the developers and the Ledger team, it would not have been possible.