A new report launched by The Crypto Merchant explores the token compatibility, new features, and security protocols of the Nano S Plus cryptocurrency hardware wallet from Ledger, and how it compares to the previous versions.
More information about hardware wallet security, the Nano S Plus, and other wallets from The Crypto Merchant can be found in the full report, at https://www.thecryptomerchant.com/en-ca/blogs/resources/ledger-nano-s-plus-review-2023-pros-cons-comparison
The report includes information about upgrades and updates included in the Ledger Nano S Plus, and a comparison to the company’s original version, the Ledger Nano S. While there are several minor differences, the most significant improvements include enhanced storage space for tokens and apps and a larger screen.
The Ledger Nano S Plus includes 1.5 MB of storage, which the report explains is nearly 5 times the capacity of the original. Though this would be considered an unrealistically small amount of storage for a typical smartphone or storage device, it allows the wallet to hold tokens in up to 100 different cryptocurrencies simultaneously.
This is because even though the applications require only a minimal amount of storage, each cryptocurrency stored on a device must have its own application installed for authentication. When the original Ledger Nano S wallet launched in 2016, it offered users up to 320 KB of storage, or enough space to store up to 5 apps, and tokens from 5 different cryptocurrencies.
The report also provides details about the upgraded screen and suggests the larger size was included to make completing transactions using the device less complicated. While there have been some other minor changes, The Crypto Merchant report concludes that in most other ways, the wallets are similar.
Analysis from The Crypto Merchant shows that the wallets use similar security features, including a CC EAL5+ secure element chip, with an ANSSI certification. Both wallets also allow users to create a 24-word BIP39 encoded recovery seed phrase, that can be used to restore assets in a lost, stolen, or damaged wallet.
These recovery seed phrases can be used, or generated, an unlimited number of times, following directions contained in the full report. Traders can also find information about how recovery seeds work, and how to disaster-proof a seed phrase using damage-resistant backup vaults.
More information about the Ledger Nano S, Nano S Plus, and seed phrase recovery kits can be found at https://www.thecryptomerchant.com
The Crypto Merchant
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.
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