When Ledger, a Paris-based hardware wallet-maker, announced a new key-recovery feature this week, it thought the move would be popular.
Allowing users to recover their private keys – much like you can recover your password if you forget it – would help onboard customers, the company believed. Potential crypto users are known to be turned off by crypto’s unforgiving self-custody ethos (“not your keys, not your coins”). But a key recovery service would offer more comfort.
Immediately, the launch of “Ledger Recover” provoked criticism.
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Opponents say that the product isn’t compatible with the concept of a hardware wallet, which promises to ring-fence private keys
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