Ledger Delays Key-Recovery Service After Uproar; Bitcoin-Based NFTs Popularity Increases
In the fast-paced world of cryptocurrency, news and developments can happen in the blink of an eye. This week, two major headlines have emerged that are worth discussing.
Firstly, French hardware wallet maker Ledger has postponed the launch of its key-recovery service following an uproar from its users over privacy concerns. And secondly, the popularity of Bitcoin-based non-fungible tokens (NFTs) appears to be on the rise, with more and more mainstream companies embracing them.
Ledger Delays Key-Recovery Service Following Privacy Concerns
Ledger has long been a popular choice for cryptocurrency investors who want to keep their digital assets safe and secure. However, the company recently announced that it was launching a key-recovery service to allow users to recover lost or stolen funds.
The idea behind this service was to provide a safety net for those who were unfortunate enough to lose their hardware wallets, or who had them stolen. However, the announcement was met with fierce criticism from many in the crypto community, who were concerned about the potential privacy implications of such a service.
In response, Ledger has now delayed the launch of the service, with the company saying that it needs more time to address the concerns of its users.
“We will not launch the Ledger Live key recovery service until we are sure that our users’ privacy and security concerns are fully addressed,” said Eric Larcheveque, CEO of Ledger.
The delay has been welcomed by many in the crypto community, who see it as a positive step towards ensuring that the privacy and security of users remain at the forefront of any new developments in the industry.
Bitcoin-Based NFTs Popularity Rises
In recent months, non-fungible tokens (NFTs) have become increasingly popular in the crypto world. Essentially, an NFT is a unique digital asset, typically based on a blockchain like Ethereum, that represents ownership of a certain item, such as artwork or collectibles.
Now, it seems that Bitcoin-based NFTs are also attracting attention, with more and more companies exploring the possibilities they offer.
One such company is Swatch, the Swiss watchmaker, which recently announced that it is launching its own NFT collection based on Bitcoin. The collection, called “The Swatch Coin,” will be released in collaboration with six different artists, each of whom will create their own unique NFTs based on the theme of time.
“The Swatch Coin is the first-ever NFT collection focused on time, which we believe is a perfect match for our brand,” said Carlo Giordanetti, creative director at Swatch.
Other companies are also getting in on the NFT game, with luxury fashion brand Gucci recently announcing that it is working on its own NFT collection, and NBA Top Shot, a platform for buying and selling NBA NFTs, gaining huge popularity among sports fans.
The rise of Bitcoin-based NFTs is a clear sign that there is still plenty of innovation and creativity to be found in the crypto world. With more and more companies exploring the possibilities of this new technology, it is likely that we will see many more interesting developments in the coming months and years.
Overall, these two news items serve as a reminder of how quickly things can change in the world of cryptocurrency. With new developments emerging all the time, it is more important than ever for investors to keep up-to-date with the latest news and trends. After all, in a market as unpredictable as this, a single decision can make all the difference.
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