TL;DR Breakdown
• Binance’s alternative platform for smart contracts seeks to enhance its reputation with the Ledger Live project.
• Ledger Live will be available for smart contracts without affecting the user experience.
Ledger NANO, the leading security system company for cryptocurrencies and Blockchain networks, announces partnering with the Binance Smart Chain platform. The crypto security company broke the news a few hours ago, which attracted thousands of virtual currency enthusiasts.
Ledger clarifies that clients will manage their tokens, make transfers and store the native virtual currency on the platform. The crypto exchange has the BinanceCoin token that ranks third among the most used crypto.
The company says that users can manage BEP20 tokens using Ledger Live. Similarly, clients will take care of their tokens such as BTC and ETH using the native hardware wallet.
How to use Ledger NANO and Binance link
To take advantage of the Binance link with Ledger NANO, interested users only have to download and install the BSC App inside the hardware. It is understood that the customer must pay for the Ledger hardware and place it on a pen drive to start the process.
The user will have to install only the Binance application on the hardware and create an account. As a final step, the user has to verify his identity and the email to use BSC.
Ledger’s work team said users would have full control of their tokens by integrating BSC into hardware. Passwords will be kept private on the hardware ensuring maximum security against hacking. The user can safely manage their cryptocurrencies from any device without compromising the access codes.
Ledger lives promise a refreshing system using Binance Smart Chain as the main attraction point. According to statements by the Ledger NANO manager, the hardware will be ergonomic, very useful for novice and amateur cryptocurrency users.
BSC and partnership with Ledger live
The BSC platform is a crypto network born from the original Binance Chain network. This innovative network promises better scalability with cryptocurrencies and the opportunity to access smart contracts. The platform is committed to the Ethereum network, so it also gives space for the Dapps creation.
Since 2019, Binance Smart Chain has suffered hacks that put its operation at risk. One of the most recent hacks was DeFi Spartan that revealed the vulnerability of the smart contracts service. The hacker stole nearly $30 million in less than three days.
However, after this attack, the platform has been updated, showing better security performance. But everything indicates that BSC was the promoter of the partnership with Ledger Live to improve its reputation. This new form of crypto trading may be a success and attract more investors.
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