Blockchain partners with Ledger for its hardware wallet
Blockchain startup Blockchain shared its roadmap for the coming months. The company is launching a hardware wallet in partnership with Ledger. Blockchain is also launching a new trading platform called Swap — this platform will find the best trading prices across a variety of exchanges and liquidity pools so that you can exchange tokens at a fair price straight from your Blockchain account.
Blockchain is one of the most successful cryptocurrency wallets out there. The company has built a solid user base with a software wallet for Bitcoin, and now also Ethereum and Bitcoin Cash.
Compared to traditional exchanges, you remain in control of your private keys. Blockchain can’t access your tokens, hackers can’t empty your wallet if Blockchain gets hacked. Blockchain currently manages 30 million wallets, which represent over $200 billion in transaction volume in the last two years.
But a software wallet isn’t as secure as a hardware wallet. There have been countless of phishing attempts and scams to take over your private keys. That’s why Blockchain is going to release its own hardware wallet, sort of.
The company is partnering with French startup Ledger to release the Blockchain Lockbox. It looks exactly like the Ledger Nano S, but with a Blockchain logo. It’ll feature a customer Blockchain firmware and integrate with Blockchain’s wallets.
Just like Ledger’s own app, you’ll be able to check your balance without connecting your hardware wallet to a computer. But as soon as you want to process a transaction, you’ll need to plug your Ledger wallet to confirm the transaction on the device itself.
It’ll be interesting to see how your Blockchain wallet and the one tied to your Blockchain Lockbox work together. The Lockbox could act as a sort of longterm vault while you could keep some coins on your standard Blockchain wallet for frequent transactions.
As for Swap, Blockchain is building its own trading product. It’s not going to be a separate exchange as the company plans to integrate with multiple sources. Eventually, Blockchain hopes to add support for decentralized exchange protocols so that you can exchange tokens without going through an exchange.
The Blockchain Lockbox will cost $99 and start shipping in November. I hope there will be other versions that support Bluetooth and mobile phones in the future as Blockchain is quite popular on mobile.