The Future of Private Keys

5min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Einstein: The nature of this update has opened up some doors as to what could happen in the future. There's now an API that goes to my private keys that is an opt-in basis but it raises concerns about like, okay, well, what if a nation state comes and starts to twist ledger's arm? And then also now there's an additional tack vector which technically has always existed but now we are more aware of it. It's impossible for one human to be completely trustless in this process," he says.

Ledger has been the center of attention since the announcement of their new “Recover” feature which has brought into question how secure our Ledger devices actually are.

Charles joins us to walk through how exactly this recover feature functions, breaking down how a Ledger actually functions, and possible paths moving forward.

------ 📣 CONSENSYS | DILIGENCE FUZZING https://bankless.cc/diligence-fuzzing-pod

------ 🚀 Airdrop Alpha is waiting for you on Bankless.com https://bankless.cc/Alpha

------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2

🦊METAMASK LEARN | HELPFUL WEB3 RESOURCE https://bankless.cc/MetaMask

👾STADER LABS | ETHX LIQUID STAKING https://bankless.cc/Stader

⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/Toku

🎮IMMUTABLE | GAMING ECOSYSTEM https://bankless.cc/Immutable

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle

------ Topics Covered

0:00 Intro 6:21 Ledger's Recover Service Overview 18:40 Is Ledger Recover Forced or Opt-In? 23:07 Dissecting a Ledger Device 29:41 Can Firmware Reveal Private Keys? 36:54 A Social Contract With Ledger 42:31 Assurance Of No Back Door 51:16 2-Part Firmware Solution? 57:42 Will Ledger Forget About Us? 1:02:46 Closing and Disclaimers

——— Resources:

Charles https://twitter.com/P3b7_

Ledger https://twitter.com/ledger

---- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures