Source: Vladimir Kazakov – Adobe Stock
- Users reveal their concerns about insecurities with the cold storage tool and make attempts to migrate to Polkadot Vault.
- According to Polkadot Network, Polkadot Vault presents a handful of commendable features for users.
The Ledger cold storage tool has been a hot topic among users who have collectively raised security concerns in the past week. Users have notably migrated to Polkadot Vault as they seem to consider it a better alternative.
After the platform revealed a firmware update, users quizzed the network about the drawbacks of the update asking if “there was a back door.” In response, Ledger co-founder Nicolas Bacca maintained that he could not prove that there was no back door.
Users were left with unanswered questions and have since collectively decided to leave the platform. One user has urged others to abandon the wallet. This sentiment is widely shared among Ledger users, who are now switching to Polkadot.
Stop using physical Ledger wallets. Get away from them immediately. They have shown nothing but gross incompetence and a wild misunderstanding of their own purpose. And now they have publicly admitted to intentionally undermining their own proprietary hardware. Stop using Ledger.
Polkadot Vault could help Ledger users bypass security breaches with its features
Polkadot’s advancement over the years has been not only believable, but also revolutionary. The network has held its own despite the ups and downs that are continually recorded in the cryptocurrency and blockchain space.
The latest of its innovations is causing a stir in the industry, as users flock to it hoping to protect their crypto assets after suffering security breaches in the past. On Twitter, one user highlighted the impact Polkadot’s cold storage wallet could have on the market, along with its benefits for interested users.
Polkadot Vault, as it is called, which used to be called parity signer, is a cold storage solution that offers users a unique feature. Using Polkadot Vault, users of the platform can use their phones in airplane mode as a cold storage wallet.
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In particular, users can access a wide variety of features in the Polkadot vault. Signing transactions with QR codes, adding chain specifications and metadata for offline parachains, and turning smartphones pls into an air-gapped wallet are some of the many things users can do with Polkadot Vault.
By default, the Vault app contains string specifications for Polkadot, Kusama, and Westend. It is possible to update the metadata using a QR code source. It is also possible to add other substrate-based strings and update their metadata. The app allows extrinsically secure signing via QR codes without exposing private keys to the internet,” Wiki Polkadot noted in a blogpost.