Cryptonomic announced that a Ledger GUI support for Tezos is coming soon.

What is a GUI?

GUI stands for graphical user interface.

Why is a GUI support for Ledger so important?

Currently Ledger supports storing Tezos — BUT — only via interaction using command line. A graphical user interface is important to people who are not familiar using command line commands.

As the majority of cryptocurrency users is not familiar with that, a simple user interface is important for mass adoption of Tezos.

Why is all that so important for security?

Storing Tezos or any other cryptocurrency on a hardware wallet is the safest way to do it. A hardware wallet stores your private keys on the hardware within a secure environment.

Currently only web applications, where you have to expose your private key(s) are avaible. You can find a list here:

Even if the publisher is trusted, there is the possibility to get affected by various other attacks such as phishing or man in the middle attacks etc.

Using your Ledger you can securely store your Tez or even activate them, if you haven’t done so yet.

The next big “gamechanger” will be that you can delegate “from” your Ledger. This means you store your actual Tez on the ledger and delegate your baking rights to someone else (hopefully a trusted delegation service).

To sum it up the release of a GUI for Ledger or any other hardware wallet is an essential thing for a cryptocurrency. Let’s wait for the release and stay tuned.

Kind regards

Tezard

— You shall not parse! —