Following a recent hard fork, the Bytecoin Team has released a protocol which its users can implement to manually enable hardware wallet support. The protocol was particularly written for the Ledger Nano S and compatible with the Bytecoin Desktop app.
The Bytecoin Team has been seeking to make hardware wallets as a storage option for its community for quite some time now. The team revealed earlier this year that Bytecoin had enabled early hardware support, which would go live after the hard fork. The project was vital for Bytecoin developers since its execution would result in enhanced usability and security.
In order to implement this, the Bytecoin platform wallet structure was revised to align with the BIP-32 standard, the model utilized for hierarchical deterministic wallets. With HD wallets, Bytecoin users will be allowed to utilize one piece of cryptographic data to make applicable keys for multiple cryptocurrencies and reinstate access to all their funds.
Hardware wallet support is available at this stage through manual implementation.
The Bytecoin Team has published a comprehensive set of instructions on how to set up the Bytecoin app on Ledger and put a wallet file supported on the platform. Once executed, Bytecoin users can take advantage of all security advantages of Ledger Nano S and use it for storing and sending their coins. The instruction for manual implementation is available on the Bytecoin blog.
Jenny Goldberg, CMO of Bytecoin, said:
“Security is a central concern to both the developers and the community here at Bytecoin, so we are pleased that we have been able to enhance the security of our platform with the addition of early hardware wallet support.”