The waiting has come to an end: The first Monero Hardware Wallet

19. October 2018 at 22:59Category:Hardware Wallet

The Monero project released the binary code of the update 0.12.2.0 on June 4th. With the Command Line Interface (short: CLI) you can now store your private keys on the Ledger Nano S and Ledger Blue. What can the new version do?

Monero (XMR) had the last hard fork on the version number 0.12.0.0 (short: 12.0) on April 6th. With the Hard Fork, new functions were added to the protocol, namely fluffy blocks, multi-signature support and the integration of sub-addresses. The proof-of-work algorithm has also been slightly changed so that the ASICs produced by Bitmain can no longer mine XMR. After the big update of April now follows a smaller update which fixes many bugs and allows the use of the Ledger-Hardware Wallet.

The source code on GitHub for the Monero CLI Wallet 12.2

The first hardware wallet for Monero. After four years of waiting, the time has finally come: Monero is supported by the first hardware wallet.

It is an important step for the pure crypto currency, because Monero is based on a completely own code and therefore has nothing in common with Bitcoin, so the hardware wallet integration turned out to be very tedious. While several Bitcoin Forks were able to take advantage of Bitcoin’s technical achievements, everything had to be reprogrammed for Monero.

Remember that there weren’t always hardware wallets for Bitcoin either. Here, too, the first wallets were only available four years after the Genesis block.

So there is reason to cheer for Monero owners. Nevertheless, the normal user of the private crypto currency still has to wait a few days before he can use Monero in combination with the ledger. The reason for this is that most users use the so-called Graphic User Interface Wallet (GUI). However, the binary code for 12.2 is only available for the CLI as of today (5.6.2018). The code for the GUI will follow in calendar week 23. It remains to be hoped that the expectations will be fulfilled. It is difficult to define a fixed time horizon for open source projects.

An overview of 12.2

The GUI Wallet with version 12.0 was problematic for many users, as there were often problems with synchronizing the blockchain. With the update to 12.2 these complications should come to an end. So there are a lot of smaller bug fixes that simplify the use of the official Monero software.

The number of mostly voluntary and unpaid developers in version 12.2 is remarkable. 87 people were involved in the latest release. GitHub received 1,649 commits and 56,735 lines of new code were written. A list of all contributors can be found in the Reddit thread.