Pascal Gauthier, CEO of Ledger, called last week a “humbling experience” and apologised for the company’s “miscommunication.”
After receiving harsh criticism from the cryptocurrency community, Ledger has decided to delay the release of its new hardware wallet, Ledger Recover.
Pascal Gauthier, chairman and chief executive officer of Ledger, shared his thoughts on the May 23 Twitter Spaces, which was attended by over 13,000 people, calling it a “humbling experience” and a “hard lesson in communication.”
“This has been a very humbling experience. It was not our desire to catch anybody off guard with the unveiling of this product, but we had a miscommunication. In light of the feedback, Gauthier said that the company is going to accelerate its efforts to open-source more of its software.”
Ledger’s CTO, Charles Guillemet, has promised a white paper on the Recover Protocol and technical blog entries to “explain the principles of Recover” and provide more in-depth explanations of how the process works in the coming days.
“Everyone who is a specialist in cryptography and security will be able to look at the protocol and understand how it works and provide additional assurances with ease.”
Guillemet also pointed out that this would free up developers from having to use the Ledger-provided backup provider for seed phrase shards.
He added, “This has always been a priority for Ledger, but a recent event demonstrated its significance to the community, prompting us to prioritise this open-sourcing process.”
After announcing on May 16 that they would be releasing a crucial recovery tool called Ledger Recover, Ledger found themselves in a public relations crisis. Users who have forgotten their private seed phrase before installing the firmware upgrade will have the opportunity to recover it.
Wallets