Home News Alt Coins Ledger Wallet Begins Bitcoin Cash Services Again

Ledger Wallet Begins Bitcoin Cash Services Again

November 24, 2018 07:25
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Cryptocurrency hardware wallet Ledger resumed Bitcoin Cash (BCH) services as announced on November 23. In an anticipation of the cryptocurrency’s hard fork, Ledger put a suspension to the BCH service on November 14th, to prevent unwanted transactions and potential replay attacks. During the time period of service suspension, Ledger wallet disabled the BCH transactions throughout its infrastructure.

The announcement states :

The Bitcoin Cash network experienced a hard fork on November 15, 2018, leading to the emergence of Bitcoin Cash SV (BCHSV). Users that secured their Bitcoin Cash using a Ledger Nano S or Ledger Blue prior to the hard fork automatically own an equal amount of Bitcoin Cash SV as they own Bitcoin Cash.

An upgrade in BCH network on November 15th caused a complex situation into blockchain world and split the blockchain network into BCH ABS and BCH SV. BCH ABS is being supported by Roger Ver, a crypto evangelist, and Craig Wright is leading the BCH SV. This split was a major reason, for the temporary suspension of the trade and transactions of BCH in all the exchanges stretch across the world map.

What is Ledger?

Ledger was launched in 2014 with a goal to create secure solutions for blockchain applications. Ledger application works on a distinctive operative system (OS), named as BOLOS. It integrates either to a chip for the Ledger wallet line or to a Hardware Security Module (HSM) for various enterprise solutions. Presently, Ledger is the only leader in this technology.

Lately, Ledger re-enabled the BCH service including the account addition and transaction of the altcoin on its platform.

Ledger wallet announced the re-enabling of the service on its Twitter, stating “Our Bitcoin Cash service is back online in the form of Bitcoin Cash ABC.
We’re also providing you with a help center article explaining how to claim your Bitcoin Cash SV. It is recommended to do this before sending Bitcoin Cash.”

Ledger Live is not supporting BCH SV for now. It also recommends the users to use Electron Splash splitting tool, prior to any BCH transaction. It also states that if users do not use the splitting tool, they might allegedly put their BCH SV at risk of losing to an attacker who replays the transaction on the BCH SV or vice versa.

German IOTA foundation also announced a plan to integrate its IOTA tokens with Ledger wallet, earlier in November. This integration will help users to protect their private keys, as it will provide an access to their IOTA tokens in a hardware i.e. chip, recognizing keys from users’ computer or smartphone. Prior to this, Blockchain.com, a crypto software company also launched a hardware device in a partnership with Ledger, called ‘Blockchain Lockbox’. The lockbox can be integrated with the existing online wallet. With the device, users can store the whole or a part of their crypto assets offline. It also lets the user, access their online accounts easily.

Nishchay Pushpad is a full-time writer at Crypto-News India. He is a Journalism graduate and major in Mathematics. He has three years of writing experience and worked with Bennett Coleman group in India. Nishchay writes about the latest news in Blockchain and cryptocurrencies. His enthusiasm and keen interest in developing his knowledge about blockchain and cryptocurrencies led him to Crypto-News India. In his spare time, he is involved in photography and travel. He currently does not hold any value in Bitcoin or other currencies.

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