Ledger Op3n Recap: Ledger Stax & The Future of Digital Security
Things to know:
– Ledger Op3n is our bi-annuel flagship event during which we announce our key product releases. And this one was a special one, as we announced our brand new, next-generation hardware device: Ledger Stax™.
– Ledger Stax is our new, breakthrough consumer device. It is built on Ledger’s secure architecture and introduces a unique form designed for unprecedented accessibility and interactivity with the world of cryptocurrencies and NFTs.
– Ledger Stax will start shipping by the end of March 2023. You can preorder today on Ledger.com. In due course, it will also be available from select retailers such as Best Buy in the United States.
Here are the key ideas and announcements that you shouldn’t miss.
A tough year for crypto custodians
Pascal Gauthier, CEO at Ledger, said it right from the start: 2022 has been a tough year for crypto custodians. Centralized finance collapsed. Celsius went down. BlockFi went down. Many users were unable to get their money back following FTX bankruptcy.
These events highlighted one crucial fact: digital ownership is not an option, it’s a right. In 2022, self-custody is not a buzzword anymore: it’s Ledger’s mission, and the future of our digital lives.
In 2022, Ledger has reached new milestones. Our Ledger Nano devices now secure more than 20% of the world’s crypto assets, and 30% of the market cap of NFTs. But it’s just the beginning.
The best way to onboard the next hundreds of millions of users is by enabling the world’s most intuitive and secure Web3 experience. Ian Rogers, Ledger’s Chief Experience Officer, was clear about it: when you buy a Ledger you are not just buying a piece of hardware, you are buying a secure and easy-to-use experience.
So, how could we make it easier than it already was?
Well, we teamed up with the best person we thought could help tackle this exciting challenge… the iconic inventor of the iPod and Nest: Tony Fadell. His mission? To build the next generation of Web3 hardware.
Welcome to a new digital era
Tony Fadell reminded it: ONE, we want more convenience and speed when managing our digital belongings, but TWO, our digital lives will become more and more threatened by hackers. And if we can’t trust our smartphones because they are inherently insecure, but we want all the convenience they bring – what should we do?
We should think of Hardware wallets as the new Identification card. Your hardware wallet is literally the physical form of the digital you – your secure Identity to allow you to securely authenticate and perform transactions in both Web2 and the ever-expanding Web3 galaxy. The hardware makes sure that “you are actually you” and not a bot, hacker or imposter.
So, what should this new generation of hardware look like?
First, says Tony Fadell, our new Ledger must be iconic: recognizable and category defining so users would instantly know what it is by looking at it. It must be usable, as intuitive as the smartphone everyone has. It must be recognizable. Portable, but not too small. It must feel personal. It needs to have a long battery life. And the entire experience from the moment you take it out of its packaging as well in everyday use must be delightful.
Ledger Stax, digital security in the palm of your hand
This revolutionary device is called Ledger Stax, letting you onboard the next chapter of the Internet, seamlessly and securely.
Thanks to its curved E Ink touchscreen (a world premiere for consumer goods!), it will make your crypto journey infinitely more intuitive. Credit card sized, it allows you to manage over 500 digital assets, your NFT collections and to explore an ever-growing range of Web3 apps through the Ledger Live app, connecting it to your smartphone via Bluetooth®.
Ledger Stax is fun and customizable. You can name your device, and personalize its lock screen with your favorite NFT or image. And, should have multiple Ledger Stax (one for your daily ops and one for your back up, one for your crypto and one for your NFTs, etc.), you can stack them, thanks to embedded magnets.
And, just like with any other Ledger, our new device does not compromise with security. It runs with the same Ledger’s proprietary OS and our certified Secure Element Chip as the Ledger Nano X and S Plus – with an improved form factor easing the clear signing. In addition to that, Ledger Stax implements a bigger screen directly driven by the Ledger OS in the Secure Element Chip. Increasing the size of the screen makes it easier for you, users, to understand all your transactions. In the words of Charles Guillemet, our CTO: this is one of such times where improving the UX also improves security.
This is not just another device. This is not just another gadget. This is the key to your digital life. This is what security feels like.
Ledger, the right platform to build on
The beauty of this new device is that, just like the Ledger Nano, any developer can build on top of it. Ledger Op3n is called that way because we are an open platform for developers. And same goes for Ledger Stax, as Charles Guillemet reminded everyone: “on top of Ledger Stax security layer we built platforms for developers to build experiences.” As Pascal Gauthier added, “Ledger is built at scale. External developers can easily integrate their coins, tokens, blockchains, apps, and services directly into the Ledger ecosystem, enabling an ever-growing range of DApps at your fingertips.”
That’s why we hosted the Ledger Op3n Developer Experience three weeks ago in Vierzon, with more than 40 developers and a lot of awesome projects, ending up in soon-to-be live apps, built on top of Ledger.
That’s why Ledger Stax will remain fully open for anyone to create its own application, if a priority is given to clear-signing: all DApps providing clear signing will be listed on Ledger website with deep links to be opened in our Ledger Live app.
But there’s actually more on what external developers can build on. Cause we know that people mostly use hot wallets because it seems easy to do so. But one single bad click there can have very severe consequences. And connecting with a hardware wallet can involve a lot of friction and a not-so-great user experience.
We want to enhance the security of our users when interacting with web3 apps and DApps by improving the ease-of-use of our products. Announced at PermissionLess and in beta since then, Ledger Connect is open to more and more testers as we approach public launch.
But what is it? It is a mobile-first, user-friendly wallet extension, first running on Safari and through Bluetooth®. It allows users to scan their transaction prior to signing them to detect if there’s anything unusual or suspicious, and helps them make the right decision.
Ledger users will want to use it.
Which means it is now on external developers to help the solution thrive, through Ledger Connect Kit. To be found on our dev portal, it simply allows you to add a Ledger button to your login flow, helping our users to be more secure on your app. Simply put, it is the external developers gateway to Ledger users.
Ledger Enterprise and how to secure the entire ecosystem
5 years ago, when launching Ledger Enterprise, we saw (and are unfortunately still seeing) big companies where a handful of nanos hold millions and sometimes billions of dollars worth of crypto. All under the direct control of only a few individuals. That is the perfect recipe for danger: what happens if the CEO having the PIN code is not available ? Or, worst yet, if the Chief Operating Officers tries to run away with all that crypto ?
Enterprise actors need three things : governance, compliance and operations. That is why we created Ledger Enterprise. To protect businesses and organizations to protect their digital assets at scale, interact with DeFi and smart contracts, create NFTs and digital value, to support our clients and their operations.
Ledger Enterprise is also proud to welcome any developers so they can contribute and extend- extend our code, plugins and apps. So everyone can contribute in securing the entire ecosystem.
Shaping the future of Layer 2 with Ledger’s Innovation team
Our last keynote was with Nicolas Bacca, Ledger co-founder, brilliant mind behind the cryptography that makes our Secure Element chip so… secure. Nicolas took the time to rewind Ledger’s history, but most importantly, he gave us a sneak peek of what the future could be like, leveraging on the power of account abstractions, adding the logic of smart contracts to transaction management on your web3 accounts.
The Innovation team is now working on joining the forces and capabilities of Ledger, Starknet, Fido on an open-source project that goes under the code name of Ledger Fresh. With one major take-away: just like any other projects at Ledger, you can come and build with us.
And be sure about something: you’ll hear more about this project soon.
Learn more about Ledger Stax. Listen to our podcast: