IOTA Cooperates With Ledger Wallets

IOTA tokens will be part of the Ledger Wallet portfolio in the future. This was announced by the German IOTA Foundation in a press release recently. Ledger will thus be fully compatible with IOTA’s in-house Trinity and Romeo Wallets.

The cooperation will enable owners of the Hardware Wallet Ledger Nano S, in particular, to save the private access keys to the IOTA network offline in the future. Hardware wallets are considered the safest variant of the crypto administration. Digital purses become necessary for address allocation, securing the keys and for sending and receiving tokens.

While the IOTA network previously only allowed transactions through the Trinity and Romeo hot wallets, Ledger allowed verification of transfers in the security log. The hardware allows the technical implementation by means of a chip process, which is similar to the process for credit cards and passports.

Tokens for the Internet of Things(IoT)

Through major announced partnerships with Fujitsu and Volkswagen, it was an important security measure for IOTA, designed to enhance the credibility of the network. While Fujitsu expects the technology to make progress in the supply chain, Volkswagen expects an important step in autonomous driving. Already in 2019, the first cars with IOTA technology will roll off the production line.

The IOTA network is fundamentally different in its characteristics from the blockchain technologies of other Crypto currencies. The Tangle approach is expected to provide better scalability, lower cost transactions, and a more efficient overall process. Areas of application are above all the direct communication between machines, secure data traffic, real-time micropayments and further data traffic. As the name of the currency implies, it is intended to focus primarily on the Internet of Things (IoT) functionality.

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