Ledger new firmware upgrade supports Ethereum 2.0 deposit contracts

5 days ago
1 Min Read
266 Words

If You Don’t Own Your Keys, You Don’t Own Your Crypto is something we all have learned the easy or the hard way. The first and a vital factor for ensuring a financial future with blockchains, is to safely store the crypto that we hold. History showed us that trusting centralized exchanges or using software wallets isn't smart and hacks, outages, exploits proved that again and again. Exchanges and such soft solutions are like public bathrooms: you use them and than you get out.


Ledger hardware wallet lets you take full control of these risks and provides an industry-leading hardware that allows you to self-custody all of your cryptos with an ease of mind. One more advantage for it is that it integrates with Metamask and serves the purposes of any avid DeFi user.

And the last pleasant surprise about Ledger is that they've just released a new firmware that supports Eth2 deposits!!! A great tool for any future Validator on Ethereum 2.0. The firmware upgrade is available for now for Ledger Nano X, while they are working on the integration for Ledger Nano S as well.

You can read the official statement on the Ledger website: https://www.ledger.com/blog/ledger-is-ready-for-ethereum-2. To cite the announcement for this firmare upgrade:
"To become validators, Ethereum stakers have to deposit at least 32 Ether on the Beacon Chain using what is called a “deposit contract”. With Ledger Nano X’s new firmware version 1.2.4-5, the Ethereum application update (Ethereum 1.6.0) makes it possible to securely sign a deposit contract transaction directly on your Ledger Nano X."

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