Intel and Ledger Nano Wallet Will Work Together
Intel and Ledger Nano Wallet Will Work Together. Technology major Intel has partnered with virtual currency hardware startup firm Ledger as of late October 2017 in a bid to introduce new solutions for storing cryptocurrency holdings. Under the collaboration, Ledger’s Blockchain Open Ledger Operating System (BOLOS) will be integrated into Intel’s Software Guard Extension (SGX) secure storage product line.
According to Ledger chief executive officer (CEO), Eric Larchevêque, the partnership allows them to provide innovative solutions for digital currency and Blockchain applications to their growing client base.
Following the launch of a line of hardware wallets based on our operating system integrated in a secure chip, working with a leading player like Intel is a unique opportunity to keep providing our growing client base with innovative solutions for cryptocurrency and Blockchain applications.”
Under the partnership, Intel and Ledger will focus on developing a so-called “enclave” wherein private keys are stored and where transactions are both generated and signed. The project is similar to the deal focusing on secure storage that was signed by Ledger and Gemalto in early October 2017. The Ledger/Gemalto collaboration involved Ledger’s BOLOS and Gemalto’s Hardware Security Module (HSM) cryptographic key storage system.
The collaboration is also part of Intel’s focus on hardware under its distributed ledger technology (DLT) strategy. One example of this strategy is the technology giant’s collaboration with startup company 21 Inc. on the distribution of Bitcoin mining chips in consumer electronic devices.
The plan is to integrate the mining chips into Intel’s products like desktop personal computers (PC). Based on the press release issued by the partners, there are already several cryptocurrency wallets that are scheduled to use their proposed virtual currency holdings storage system. Among them are provider services MyEtherWallet and Electrum.
A wallet stores the information necessary to transact bitcoins. While wallets are often described as a place to hold or store bitcoins, due to the nature of the system, bitcoins are inseparable from the blockchain transaction ledger. A better way to describe a wallet is something that “stores the digital credentials for your bitcoin holdings” and allows one to access (and spend) them. Bitcoin uses public-key cryptography, in which two cryptographic keys, one public and one private, are generated. At its most basic, a wallet is a collection of these keys.
There are several types of wallets. Software wallets connect to the network and allow spending bitcoins in addition to holding the credentials that prove ownership. Software wallets can be split further in two categories: full clients and lightweight clients.