Cetoex News – In light of its new “Ledger Recovery” feature receiving backlash, crypto wallet maker Ledger XRP is pushing back criticism for its new feature. Ledger CEO Pascal Gauthier spoke today about the new recovery feature during a Twitter space session, defending it.

“You’re saying this is not what customers want. Actually, this is what future customers want,” he said. “This is the way that the next hundreds of millions of people will actually onboard to crypto.”

Users bashing the new Ledger Recovery feature cite safety concerns. The service stores encrypted user seed phrases with third-party custodians. However, users say that this undermines Ledger’s stated commitment to privacy and security.

Users Bash New “Ledger Recovery” System

On Tuesday, Ledger confirmed speculation that it was introducing an optional, $9.99 per-month seed phrase recovery service for owners of the Nano X wallet. Ledger Recover offers a way for people to secure their speed phrases.

“When you subscribe to Ledger Recover, a pre-BIP39 version of your private key is encrypted, duplicated, and divided into three fragments, with each fragment secured by a separate company—Coincover, Ledger, and an independent backup service provider,” Ledger’s website says.

“Each of these encrypted fragments is useless on its own. When you want to get access to your wallet, 2 of the 3 parties will send fragments back to your Ledger device, reassembling them to build your private key.”

Ledger has suffered security issues in the past, such as the 2020 data breach that saw the emails of over 10,000 customers exposed. Hence, users who are bashing the new feature feel that this new Ledger Recover subscription is a new way to have all of their sensitive information revealed. Albeit, no wallets were compromised as a result of the attack, the incident left remains a topic of debate within Ledger’s tech-minded user base.

However, the Ledger XRP CEO looks to continue defending the new recovery feature of its’ crypto wallet, as well as co-founder Nicolas Bacca.

“It’s not a backdoor at all. You stay in control. Nothing will happen without your consent on-device,” said Ledger Co-founder Nicolas Bacca, adding that the team plans to open-source its code in the future so that users can see how Ledger’s recovery service safely encrypts user data and operates securely under the hood.

NEWS BY – CETOEX NEWS

Cetoex News – Tech giant, Apple, is reportedly delaying the launch of a Uniswap Labs crypto wallet application. Specifically, the company behind the top decentralized exchange on the Ethereum Network has said Apple is yet to green-light the release for unexplained reasons.

Speaking to Coindesk, a Uniswap Labs spokesperson said that Apple has yet to provide an explanation for the lack of approval. “We’ve responded to their concerns, answered every question, and reiterated that we are 100% complain with their specifications,” they told the publication.

Uniswap Labs Unable to Launch Crypto Wallet App

Following news that the company had blocked an email application featuring ChatGPT technology, Apple is at it again. This time, they are inexplicably delaying the release of an application from one of the biggest names in decentralized finance.

Apple is reported relying on the launch of Uniswap labs crypto wallet applications. Moreover, the company has yet to deliver the exchange with accurate reasoning behind the delay. According to a spokesperson, they have remained compliant despite the uncertainty.

“Apple won’t yet green-light our launch and we don’t know why- we’ve responded to their concerns, answered every question, and reiterated that we are 100% compliant with their specifications,” they told Coindesk.

Alternatively, the report notes that Apple has remained “a hardline gatekeeper in regulating the crypto worlds access to iOS, its mobile software ecosystem.” Additionally, with regularity concerns across the digital asset sector, and Apple’s “approved exchange,” standards, it’s unlikely a DEX platform could receive the green light to launch a mobile application.

The planned mobile app was a self-custodial crypto wallet, allowing full ownership by users. Moreover, it would offer the ability to trade tokens with Uniswap, which already supports a 24-hour volume of more than $1.2 billion. Conversely, Unisap Labs Desing Lead Callil Capuozzo said Apple operates with “a rulebook that nobody can read,” making the process increasingly difficult.

NEWS BY – CETOEX NEWS