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Blog posts, Product | 08/03/2022

Ledger & StarkNet Partnership: Experience New Wallet Features with Account Contracts

Things to know:

– Ledger will be one of the first crypto wallets to integrate StarkNet during the first quarter of 2023.

– The integration will allow you to create a contract account in Ledger Live* and upgrade your experience with additional features such as multi-signature governance, a backup authorization of your account, advanced security capabilities, and more. 

– StarkNet is considered to be one of the leading Ethereum scaling solutions. 

Changing the way you interact with Ledger Live

During the first quarter of 2023, Ledger Live will integrate StarkNet to significantly upgrade your experience with the app. Ledger Live will be the first wallet to offer large-scale Starknet support together with comprehensive protection against malware and physical attacks.

In addition to the currently available classic account that generates a pair of public/private keys—known as an externally owned account—you’ll also be able to create a so-called account contract.

An account contract is a smart contract acting like a classic, externally owned account on top of which you can add advanced services and features. This approach, powered by smart contract flexibility, is called account abstraction

Here are some examples of what you can do with an account contract.

Set a policy and automate transactions

Let’s say you have contracts you frequently interact with or a maximum amount of assets you feel comfortable spending on certain transactions. In such a scenario, you could use your Ledger Nano to set policies and then execute transactions automatically without confirming them on the device. 

Multi-signature governance

Account contract allows you to include governance through multi-signature if you’re managing a family fund, a backup authorization of your account for inheritance purposes, or even additional security features.

Smoother gaming experience

You’re probably familiar with the pain of constantly clicking ‘approve’ when playing blockchain games. With account contracts, those days are gone—you can create session keys authorized to play games for a certain period without having to sign transactions every few minutes. 

In other words, the support of StarkNet could completely transform the way you interact with Ledger Live. Your account contract will be managed and secured by your Ledger Nano, and all transactions that comply with the policy you’ve set can be approved automatically or without your Ledger Nano. This way, you can enjoy more convenient interaction with Web3 and stay protected while you navigate the ecosystem.

StarkNet—leading ZK rollup

StarkNet is considered to be one of the leading Ethereum scaling solutions.

As you probably know, Ethereum faces scalability limitations that lead to network congestion and high gas fees. To improve its scalability, Ethereum can rely on layer 2 solutions like StarkNet that increase throughput on its Mainnet. StarkNet can process thousands of transactions in a batch and post only minimal summary data to the Mainnet.

A huge developer community is engaged with the StarkWare ecosystem, building apps, tools, and infrastructure on top of it. StarkNet recently announced the launch of its native token. Its rollup is currently in the Alpha testing phase. 

Your secure gateway for plug-and-play access to Web3 

Ledger continues to be your secure gateway for plug-and-play access to Web3. We’ll continue to build partnerships, integrate new services, and launch innovative products to help you navigate this exciting ecosystem. 
Keep an eye on our blog for upcoming announcements.

*Disclaimer: Buy, swap, lend, and other crypto transaction services are provided by third-party partners. Ledger provides no advice or recommendations on the use of these third-party services.

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