Ledger Users Flock to Polkadot Vault for Secure Crypto Storage Following Major Security Gap – Transform Your Phone into a Hardware Wallet

The Ledger cold storage tool has been a major topic amongst users who have collectively raised security concerns over the last week. Users have notably migrated to the Polkadot vault as they seem to consider it a better alternative.

After the platform revealed a firmware update, users quizzed the network on the downsides of the update asking if “there was a back door.” In response, Ledger’s co-founder Nicolas Bacca maintained that he couldn’t prove that there isn’t any back door.

Users were left with unanswered questions and have since collectively decided to ditch the platform. One user is quoted urging the others to exit the wallet. The sentiment is widely shared amongst Ledger users who are now moving to Polkadot.

Stop using Ledger hardware wallets. Migrate away from them immediately. They’ve shown nothing but gross incompetence and wild misunderstanding of their own purpose. And now they’ve publicly admitted to intentionally backdooring their own proprietary hardware. Stop using Ledger.

Polkadot Vault could help Ledger users evade security breaches with its features

Polkadot’s advancement over the years has not only been credible but also revolutionary. The network has held up strongly despite the ups and downs continuously recorded in the crypto and blockchain space.

The most recent of its innovation is taking the industry by storm as users swarm in, hoping to secure their crypto assets after experiencing security breaches in time past. Taking to Twitter, a user highlighted the impact that Polkadot’s cold storage wallet could have in the market, along with its benefits for interested cold wallet users.

The Polkadot vault, as it is called, which was formerly named parity signer, is a cold storage solution that offers users a unique feature. Using the Polkadot vault, users of the platform can use their phones in airplane mode as an air-gapped wallet.

Notably, users can access a wide variety of features on the Polkadot vault. Signing transactions with QR codes, adding chain spec and metadata for parachains offline, and turning pls smartphones into an air-gapped wallet are some of the many things that users can do with the Polkadot vault.

“By default, the Vault app contains chain specifications for Polkadot, Kusama, and Westend. Metadata updates are possible via a QR code fountain. It is also possible to add other Substrate-based chains and do metadata updates for those. The app allows you to securely sign extrinsic via QR codes without exposing your private keys to the internet.” Wiki Polkadot noted in a blogpost.