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Ledger issues?


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A comment on reddit:

"From what I understand after dabbling with this tech for a while:

It affects only the chromium apps, which are web based apps (sorta like MEW) which run ontop of the Chrome browser.
The web apps point to their services. WAllets that do not use their APIs, (such as MEW) work fine.

The Ledger Nano S (Hardware) specifically contains the secret seed, and signs anything its given and has had manual approval (which you can view on the screen) with information its given. Its sorta of a restricted in and out system. The signed result is passed back to which ever wallet that is currently connected, ensuring that the secret never leaves the device ( and the backup copy you have made, hopefully on physical paper) and is encrypted enough to take a while (probably as long earth remains habitable) to get with firmware / physical access. 

This allows for transactions to be sent / logins to be approved, etc. This is why the secret can be transferred to another device or wallet, and you'll still have access to your wallets made with that secret: how the transactions / identification is signed, remains the same..


Now what their API's contain is pretty much where they maintain their own copies of the blockchains for BTC/ETC/Whichever, which they keep uptodate, similar to services such under btc, etherscan or xlmscanner or which ever variant per unique blockchain tech.  These tend to be quite massive, and take alot of space to upkeep. 

Ledger (service not the wallet) has its own copy latest blocks to keep track of (and so do wallets like MEW/Exodus), to make sure that they are not reliant on other services, and so that regular users do not have to maintain their own copies of the blockchain to make any transactions: otherwise we would all be using wallets that keep a copy of a newest part of the blocks on our hard-drives that we would have to update every time we need to check our balance or send a transaction. Nowdays we have many services that do this for us. This is basically what they are currently reporting having issues with which will affect the use of their app.

So as long as someone is willing to develop, they can use the SDK to make manual wallet where you download the blockchain, and use the Nano Ledger to sign the transactions your coins will not be lost. Alternatively, you can make your seed hot (written into a PC) and use it in a wallet."

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An API isn't anything to fear. You can see what an API does from the XRP price widget in the main forum. It's nothing more than the ability to migrate data from one server to be shown or interacted with by a third-party. If an API has an issue, you will have syncing issues with the server you are using to pull data from. 

Edited by TheXRPer
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API is an Application Programming Interface. In layman's terms, it's very common in modern websites and is typically the means for one bit of software to send data to another bit of software. The API can become unresponsive for a number of reasons including a buggy software update, server stability problems, network problems, firewall issues. 

Coins already sent to the Ledger wallet are safe as it's only the secret key generated within Ledger itself, the coins are not actually stored on it. 

There's information on the link, below, on what would happen if their API went off permanently. Basically, you can restore your wallet to any BIP39 device.


I'm sure it'll turn to normal soon enough.

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