Ledger Plans To Move To Web3 After Unveiling “Ledger Connect”

The cryptocurrency storage system, Ledger, has announced its plan to launch a web extension protocol to allow users to connect to their Web3 applications from wherever they are in the world.

According to the Ledger team, the new Ledger Connect is a specially designed system on the Ledger platform that users can leverage using their Ledger Nano X anywhere they are to connect to Web3 to prevent hacking and possible fraud and protect their digital assets.

What is the Ledger Web 3.0 Wallet?

Following the launch of Ledger Connect, the Ledger network will no longer require the use of third-party wallet criteria to move into Web3 securely. Ledger Connect is the first browser extension developed for hardware interaction in the Ledger ecosystem.

A new security protocol has also been included in Ledger Connect named “Web3 Check” to provide ease of use and add a security layer to the system for safeguarding users and their assets.

In m the event of a potential security breach or hacking, Ledger Connect will alert users of the imminent risks via a thorough display of previous events. The team admitted that more tests would be carried out to ensure users get the best and safest Web3 experience.

Meanwhile, as a precautionary security verification before a transaction can be processed, the application would regularly recommend users perform their investigation before any authorization is given.

Aside from the advantage of convenience it brings, Ledger Connect also boasts an unrivaled security precaution that notifies users of impending risks to their accounts and assets.

Are Multiple Blockchains Supported?

According to the development team at Ledger, Ledger Connect is a multiple browser wallet app with support for ETH and SOL at the initial stage of the launch. It is also the first and only browser plugin that supports the two blockchain platforms, and more compatibility will be added in the future to accommodate other blockchain networks.

A brief peep into the workings of the Ledger Connect shows that when a user links a Ledger wallet to a Web3 application, the browser software feature will quickly request a user to select a Ledger Connect option before proceeding. Since the Ledger is not fitted with an asset management system, users will not be able to manage their accounts on the browser extension.

However, users will need to use the Ledger Live companion application to manage their accounts. After that, users can authorize transactions directly from their hardware wallet via connection to a Web3 page on the platform.

According to the vice president of product at Ledger, Charles Hamel, Ledger is challenging itself to develop the most sophisticated and secure Web3 ecosystem with each passing stage of its development. Ledger Connect is one such project that Ledger has in store to make the Web3 experience a secure and satisfying adventure.

As more crypto platforms venture into Web 3.0, the competition for relevance is becoming more defined, and the next couple of years will be the determining factor.