Ledger, a major hardware cryptocurrency wallet provider, has released a white paper for its upcoming Ledger Recover tool that will allow users to backup and recover their seed phrases. Despite facing criticism from the crypto community regarding potential vulnerabilities, the company’s CTO has assured that the new service is “100% secure” and has called on developers and researchers to examine the cryptographic protocols outlined in the white paper.
The Ledger Recover repository provides three operational flows for backing up, restoring, and securely deleting the seed, all of which can be run independently from Ledger to maintain self-custody. The white paper includes data on Ledger Recover’s system design, cryptographic protocol, and implementation, such as splitting the seed into shares using the existing Shamir backup technology. Ledger expects to launch the optional subscription-based seed recovery tool in Q4 2023, provided by Coincover.
This development represents a significant step forward in enhancing the security of hardware wallets and protecting users’ digital assets.