IOTA which was ranked 14th on the Global Public Blockchain Technology Assessment Index has announced on its official blog that its coin- MIOTA is now supported on the Ledger Nano S hardware wallet. This is in wake of the wallet announcing its suspension of support for Bitcoin Cash (BCH) today until its hard fork is over. Ledger Nano S is a popular multicoin hardware wallet.
IOTA Released the News
This news was made through the coin’s official blog page. IOTA made it known that the wallet has been integrated with the IOTA Trinity and several measures to further prevent a hacking attack has been infused. The post from the blog stated that:
“the Ledger hardware wallets integrate with the IOTA Trinity and Romeo Wallets and isolate user’s seeds (the key for their account) from their computer or smartphone, providing another layer of security from hackers”.
The CEO of Ledger, Eric Larchevêque also commented that:
“providing the highest level of security and quality is a major focus at both Ledger and IOTA at Ledger”.
MIOTA which currently ranks 14th on the global index is also one of the 20 most traded coins on most popular crypto exchanges. The coins can also be found on several exchanges worth mentioning.
Based on the report, IOTA is a little bit different from other popular types of crypto. It has been made known that the crypto is built on a different kind of technology referred to as the tangle.
A blog post from IOTA’s official blog defined the tangle. The blog post stated that:
“The Tangle, which is the data structure behind IOTA, is a particular kind of directed graph, which holds transactions. Each transaction is represented as a vertex in the graph. When a new transaction joins the tangle, it chooses two previous transactions to approve, adding two new edges to the graph.”
It also stated that:
“The Tangle is based on several different squares, linked by specified arrows, forming a “directed graph”.”