In order to offer developers a tool for sharing data confidentially, Ledger presented its Key Ring protocol. What are the use cases for this new feature?
Ledger presents its new Key Ring protocol
This week, the famous French manufacturer of hardware wallets presented a brand new confidentiality protocol: Ledger Key Ring. In summary, this tool can be implemented by developers, to allow their applications to only share certain information with well-defined stakeholders.
📣Today we’re proud to publish the whitepaper for Ledger Key Ring Protocol, a new protocol we have developed for secure, private information-sharing, using your Ledger to manage it. 🧵
— Charles Guillemet (@P3b7_) September 26, 2024
To illustrate some concrete use cases, Ledger Key Ring could for example be used in cloud storage. The files deposited would then be encrypted, therefore not being able to be consulted by the host. To have access, authorized people should use their hardware wallet to prove that they have the necessary rights, like a signature during a crypto transaction.
💡 Discover our opinion on the Ledger Flex hardware wallet
Other use cases can be imagined, such as encrypted messaging, or the management of user data on a decentralized application. Ultimately, the objective of the Key Ring protocol is to enable selective sharing of information between the different stakeholders in a project, in an optimized manner.
Ledger: the best solution to protect your cryptocurrencies 🔒
In its white paper, Ledger also insists on the fact that if this protocol works in symbiosis with a hardware wallet, it never mixes sensitive information such as private keys:
The Ledger Key Ring protocol can only be used as a “privacy” tool. It is not intended to manage encryption and authentication keys. Ledger Key Ring Protocol encryption keys and your device’s private keys always remain isolated from each other.
👉 To go further — How to store and secure your cryptocurrencies yourself?
Thus, the data contained by applications built with Ledger Key Ring can be seen as a multitude of safes that can only be opened with well-defined keys. In the future, it will be interesting to observe how developers approach this new tool in order to implement it in their projects.
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Source : Ledger
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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