One of the largest providers of cold storage crypto wallets, Ledger, has announced the launch of a new browser extension designed to improve security and connectivity for digital assets.
According to the company, the Ledger Extension is compatible with Ethereum and Polygon-based dApps and platforms, with plans to expand support to other EVM-compatible chains and Solana in the future. While the extension is currently only available on Safari, iOS, and MacOS, additional support for Windows, Chrome, and Chromium-based browsers is expected soon.
Unlike other hot wallets that are connected to the internet and are more susceptible to online attacks, the Ledger Extension will remain a cold wallet that allows users to interact directly with dApps through Bluetooth. The extension aims to provide similar experiences to crypto wallets with browser extensions like MetaMask, and has two features that aim to keep users safe when interacting with crypto. Firstly, it analyzes smart contracts and warns users whether a transaction is potentially malicious, and secondly, it simulates a transaction to show how it will impact the wallet, even when it is a secure transaction.
Ledger is a well-established crypto hardware wallet and cold wallet provider, with more than six million devices sold across 200 countries and to over 100 financial institutions and brands. The company has stated that around 20% of crypto assets globally are secured through Ledger.
The Ledger Extension is the latest in a series of developments from Ledger, including partnerships with Tony Fadell and Cathay Innovation, and a $380 million funding round in 2021. Going forward, the company plans to focus on improving connectivity and security in the crypto space to make it easier for consumers and businesses to engage with dApps and platforms.
In conclusion, the Ledger Extension is a significant step towards making the use of crypto more accessible and secure. It is a positive development that will help bridge the gap between Web 2.0 and Web3, and ensure that the industry continues to evolve and reach a larger audience.