Ledger Nano S has Announced Support for IOTA coin

Ledger Nano S has Announced Support for IOTA coin


With a previous report making it known that Ledger Nano S will be suspending its support for the Bitcoin Cash token— BCH, in anticipation of the coin’s hard fork. The hardware wallet has added another coin to its list of supported coins. IOTA made it known that it is now supported by the hardware wallet.

IOTA Integrated with Ledger Nano S

IOTA made this known via a recent blog post which reads thus:
“the Ledger hardware wallets integrate with the IOTA Trinity and Romeo Wallets and isolate user’s seeds (the key for their account) from their computer or smartphone, providing another layer of security from hackers”.

The CEO of Ledger, Eric Larchevêque further explained that:
“providing the highest level of security and quality is a major focus at both Ledger and IOTA at Ledger”.

MIOTA is a Top Ranking Coin

Currently, the MIOTA coin is a top 20 coin. What this means is that the coin is part of the 20 most traded coins in the market right now. This can be traced to the fact that the coin is listed on almost all major cryptocurrency exchanges around the world.
IOTA is a public blockchain project designed to achieve ultimate scalability and free transactions, as well as the Internet of Things (IoT) application. A report has made it known that the network runs on a technology called Tangle. Expert has also made it know that this is different from blockchain.

Base on a report from IOTA’s official blog it was stated that:
“The Tangle is based on several different squares, linked by specified arrows, forming a “directed graph”.”

IOTA came under fire in recent time due to its network experiencing some downtime as well as several major interruptions.

This has resulted in several negative comments from experts such as this:
“That this has never happened in Bitcoin or Ethereum suggests the extent to which the IOTA network relies on the “coordinator”—a single point of failure—and is not truly decentralized”.