‘Father’ of iPod launches a new crypto wallet
2022.12.06 14:47
‘Father’ of iPod launches a new crypto wallet
Budrigannews.com – On Tuesday, Tony Fadell, a well-known executive from Silicon Valley who is also known as the inventor of the iPod, unveiled his most recent endeavor, a hardware wallet for offline cryptocurrency storage.
Apple (NASDAQ:) employed Fadell, 53, for nearly a decade. under Steve Jobs, where he designed the portable music player and later helped make the iPhone, the company’s most popular product.
He started Nest Labs, a company that makes smart home devices, after leaving Apple in 2008. Google, a tech conglomerate, later bought Nest (NASDAQ:). costing $3.2 billion.
Now, Fadell and the French technology company Ledger are working on a new offline cryptocurrency wallet.
Cryptocurrency trading necessitates the use of intricate cryptographic keys for transaction authorization. Because these keys are typically stored online, such as in an online exchange, they may be more vulnerable to theft or hacking.
An unprecedented rise in demand for offline, or “self-custody,” services like Ledger resulted from the cryptocurrency exchange FTX’s recent collapse, which resulted in the loss of more than $1 billion in customer funds.
Ledger’s previous models, like the Nano S and Nano S, were shaped like USB memory sticks. The Ledger Stax, Fadell’s new design, has an electronic-ink display and the size of a credit card.
According to Ian Rogers (NYSE:), “All of the secure hardware up to this point was like all of the MP3 players before the iPod, and it was time for an iPod.” Reuters was informed by Ledger’s chief experience officer.
Fadell had previously voiced doubts about a few aspects of “Web 3.0,” a broad term for a number of decentralized technologies of the next generation, including cryptocurrency and the metaverse.
Beginning in early 2023, the Ledger Stax will retail for $279 online.
