Ledger Key Recovery Service to Release Open-Source Code Despite Criticism

Last week, we reported that Ledger, the company behind the popular crypto-wallet Ledger, was pushing a firmware update that would let users opt-in to store their recovery seeds online.

Pascal Gauthier, who stands at the helm of Ledger as its Chief Executive Officer, took a moment to reflect on the preceding week’s events. He described it as an experience that brought him a sense of humility.

Ledger has decided to delay the release of Ledger Recover in the wake of a wave of harsh critiques from those within the cryptocurrency sphere over the past week.

On May 23rd, a live audio conversation was held on Twitter Spaces, drawing in an audience of more than 13,000 listeners. Pascal Gauthier, who serves in a dual role as Ledger’s chairman and Chief Executive Officer, was present at this event. He reflected on the recent chain of events, characterizing it as a ‘humbling experience’.

“This experience has been very humbling. We miscommunicated on the launch of this product; it was not our intention to take people by surprise. So because of that, we understand the community’s direction and apologize for the miscommunication.”

Expressing his response to the concerns raised, Gauthier announced that the company would be hastening its initiatives to make a larger portion of its codebase open-source. The initial steps will encompass the primary elements of its operating system and Ledger Recover.

He elaborated further by stating that the launch of Ledger Recover would be put on hold, only proceeding when the task of open-sourcing the relevant parts of the code is thoroughly completed. His message was clear – the commitment to complete the open-source work precedes the product release.

Charles Guillemet, who heads the technological arm of Ledger as the Chief Technology Officer, offered further details about the company’s plans. He indicated that in the following days, they would be taking additional steps towards transparency and open-source practice. These steps will include the release of a white paper on the Recover Protocol as an open-source document.

Accompanying this, technical blog posts will also be shared, to clearly outline and “explain the principles of Recover”. The purpose behind these posts is to offer more in-depth insights and detailed explanations regarding the functional aspects of the Recover process.