In a recent development, Paris-based cryptocurrency hardware startup, Ledger has announced its association with the tech mogul Intel. The mutual collaboration between the two firms is aimed at chaining the distinctive operating system of Ledger, ‘BOLOS’ and Intel’s ‘Software Extension Guard’ (SGX) in a bid to offer new avenues for storing cryptocurrency holdings.
The Intel SGX solution intends to make a safe zone called the ‘SGX enclave’ for private keys attached to digital resources. Ultimately, this implies the information will be put away inside the enclave instead of the application. Moreover, the objective plans to control a wide range of software assaults.
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While explaining about the prospect, the CEO of Ledger, Eric Larchevêque said:
“We have seen an increasing demand from the market for security solutions to manage crypto assets over the past couple of years”
He further added:
“Following the launch of a line of hardware wallets based on our operating system integrated into a secure chip, working with a leading player like Intel is a unique opportunity to keep providing our growing client base with innovative solutions for cryptocurrency and blockchain applications”
Secured private key enclave
As per the announcement, the computer users of Intel will be asked if they are willing to download the enclave software of Intel. While explaining its stance, Intel said:
“Private keys will be automatically generated and all cryptocurrency transactions will be signed within the Intel SGX secure enclave”
It is relevant to state that the Intel SGX extension comes built-in with the Intel processors already. The idea behind is to capitalize on code security and reduce the counterparty risks.
The General Manager of Platforms Security Division at Intel, Rick Echevarria shared:
“By deploying Intel SGX, Ledger’s security for blockchain solutions gains instant scalability across Intel 8th Generation core platforms”
According to a statement, wallets are set to utilize the Intel/Ledger solution including wallet provider services Electrum and MyEtherWallet. Moreover, Paris-based company strongly believes that their collaboration with Intel is one of its steps for its expansion. Not too long ago, Ledger also got itself associated with a renowned security company, Gemalto.