In the world of cryptocurrencies, a ledger is a fundamental concept that refers to the record-keeping system used to track transactions on the blockchain. A ledger is essentially a database that stores all the information about every transaction that has ever occurred on the network. This article will explore the concept of a ledger in detail, covering everything from its definition to its significance in the cryptocurrency ecosystem.

What is a #Ledger ?

A ledger is a record-keeping system that tracks transactions on the blockchain. It is a database that stores all the information about every transaction that has ever occurred on the network. A ledger consists of a series of blocks, each of which contains a group of transactions. Each block is linked to the previous block, forming a chain of blocks, hence the term "blockchain".

Types of Ledgers

There are two main types of ledgers in the cryptocurrency world: public and private ledgers. A public ledger is open to anyone, and all transactions are visible to all participants on the network. A private ledger, on the other hand, is restricted to a select group of participants who have permission to access it. Private ledgers are often used in enterprise settings where privacy and security are of utmost importance.

Importance of Ledgers in Crypto

Ledgers are a critical component of the #cryptocurrency ecosystem as they provide a transparent and secure way to track transactions. The decentralized nature of the blockchain means that no single entity controls the ledger, making it resistant to fraud and hacking attempts. Ledgers also provide a transparent way for users to verify the integrity of the network, as they can check the ledger to ensure that all transactions are valid and have been properly recorded.

Ledgers and #Mining

Mining is the process by which new cryptocurrency tokens are created and transactions are verified on the blockchain. Miners use their computational power to solve complex mathematical problems, and in return, they are rewarded with newly created cryptocurrency tokens. The mining process involves verifying transactions on the ledger to ensure that they are valid and have been properly recorded.

Ledgers and #Wallets

Cryptocurrency wallets are used to store and manage digital assets. A wallet does not actually store cryptocurrency tokens; instead, it stores the private keys required to access them on the blockchain. When a user sends or receives cryptocurrency tokens, the transaction is recorded on the ledger. Wallets use the ledger to update the balance of a user's account and to ensure that all transactions are properly recorded.

Conclusion

In conclusion, a ledger is a critical component of the cryptocurrency ecosystem that provides a transparent and secure way to track transactions on the blockchain. The decentralized nature of the ledger makes it resistant to fraud and hacking attempts, and it provides a transparent way for users to verify the integrity of the network. Ledgers are used in mining, wallet management, and other critical aspects of the cryptocurrency ecosystem, making them an essential concept to understand for anyone interested in cryptocurrencies.

Hardware wallet manufacturer Ledger has successfully completed a €100 million funding round, according to a report by Bloomberg on March 30.

The Paris-based startup is now valued at €1.3 billion, the same valuation it received from its last raise in June 2021. The round’s investors include True Global Ventures, Cité Gestion SPV, Digital Finance Group, and VaynerFund.

Ledger claims it stores more than 20% of the world’s cryptocurrencies and 30% of the world’s NFTs, highlighting its dominant position in the crypto wallet market. The funding round’s success comes as the broader crypto industry experiences volatility, making Ledger’s hardware wallets an attractive option for investors looking for security and stability. A second closing is expected in mid-April, with a third closing to follow due to high investor demand.

Ledger’s success highlights the importance of hardware wallets in the crypto industry, as investors seek secure and reliable storage solutions for their digital assets. With the rise of non-fungible tokens (NFTs), the demand for secure storage solutions has increased significantly, making Ledger’s position as the largest hardware wallet manufacturer all the more valuable. Investors recognize the value of Ledger’s dominant position in the market, evident by the strong support it received in the funding round.

Looking ahead, the success of this funding round is likely to further solidify Ledger’s position in the market and attract new investors looking for secure storage solutions for their digital assets. Additionally, it underscores the continued growth of the crypto industry, despite the recent market turbulence, as investors recognize the potential for significant gains in the world of digital assets.

#Ledger #crypto2023 #BTC #dyor #azcoinnews

This article was republished from azcoinnews.com

Multi-strategy digital-asset hedge fund that was previously part of the now-collapsed company behind cryptocurrency exchange FTX, MNNC Group, raised an undisclosed amount of investment from prior supporters, returning under the new name. 

Formerly known as LedgerPrime and a subsidiary of Ledger Holdings, the fund was acquired by FTX US exchange, owned by FTX, in 2021.

While MNNC Group was unable to attract all of LedgerPrime’s previous investors, it raised a sum in the “mid-eight-figures”, according to Shiliang Tang, general partner and special advisor to MNNC Group. The company introduced its primary quantitative market-neutral strategy fund earlier this year, concluding the month with approximately 4% returns. The anticipated launch for the new directional fund is set for March.

The favourable factors contributing to its success include its track record and the absence of fault with FTX. The company returned all outside capitals in September 2022, following the FTX collapse.

MNNC Group presently has 11 employees, with the majority coming from LedgerPrime, including its Chief Technology Officer, Johannes van Zeijts. The fund is also in the process of recruiting additional personnel as part of its preparations for the launch of its directional strategy and other new strategies.

LedgerPrime’s Evolution and Decay 

LedgerPrime underwent a transformation into a family office for FTX’s trading firm, Alameda Research, in September 2022. Following the bankruptcy declarations by FTX and Alameda Research, LedgerPrime was forced to wind down its operations. At its height, LedgerPrime oversaw total assets reaching up to $400 million, maintaining an annualized return averaging around 40%. 

MNNC Group is not the sole new fund to emerge from LedgerPrime. A former portfolio manager at LedgerPrime, currently leads another cryptocurrency fund named Split Capital.

Amidst the restructuring and rebranding, MNNC Group stands as a resilient force, successfully attracting new investments and forging a new path in the ever-evolving cryptocurrency landscape.

The post FTX-Linked Crypto Hedge Fund Rebrands to MNNC Group, Attracts “Mid-Eight-Figure” Investment Post-FTX Collapse appeared first on Metaverse Post.

MoonPay, a well-known on-ramp solution for the simplified crypto selling and purchasing process, has announced a new partnership. The company stated that it will work in collaboration with Leger (a popular hardware crypto wallet provider) to delve into the latest endeavors. As a part of the collaboration, the firm noted that it would unveil the latest features of MoonPay on Ledger Live.

Today we’re proud to announce new initiatives with our longstanding partner @Ledger.We’re unveiling the new MoonPay features coming to Ledger Live. pic.twitter.com/r0MB3FVEcl

— MoonPay (@moonpay) April 22, 2024

MooonPay and Ledger Start a Unique Collaboration to Delve into New Prospects

The platform took to its official account on the social media forum X to reveal the initiative. It added that the consumers can now matchlessly swap tokens such as $ETH, $SOL, and $BTC on Ledger Live. In this respect, the clients can utilize MoonPay for that purpose. In a series of posts, the firm provided the details of the partnership. The company pointed out that the customers will soon experience rapid transactions.

It means that the platform will shortly enable them to swiftly transform cryptocurrency into fiat while using Ledger Live. Following the launch of the selling feature, the company will reportedly allow consumers to manage their digital currencies smoothly. In addition to this, the speed of the transactions will also improve for a better experience.

The Endeavor Includes Bonus and Access to Exclusive Services

Apart from that, the firm asserted that it would offer bonuses for a limited time. This will take into account a crypto voucher comprising $25 along with Ledger Recover’s one-year subscription. The purpose of these developments is to engage the user base as well as increase the adoption.

Along with these things, the company will also let the clients access the comprehensive educational resources of Ledger Academy. Moreover, the users will also see the addition of a MoonPay track by Ledger Quest. As per MoonPay, this collaboration signifies the commitment of both firms to expanding crypto accessibility.

Ledger has announced a major policy shift involving the signature of transactions.

The hardware wallet has joined forces with the DApp ecosystem to provide Clear Signing.

Leading manufacturer of hardware wallets for cryptocurrencies, Ledger, recently fixed a vulnerability in their Ledger Connect Kit. The firm has pledged to compensate any customers who have been impacted by this security incident in full, showing that it takes its responsibilities seriously.

Quick action was taken by Ledger after user reports of several fraudulent transactions. Numerous DApps, including well-known platforms like SushiSwap and Revoke.cash, were compromised on December 14, 2023.

These applications made use of the vulnerable Ledger connector library. Blind signing on Ethereum Virtual Machine (EVM) decentralized applications (DApps) made the hack worse, costing users over $600,000.

Major Policy Shift

Through a statement on Twitter, Ledger recognized the gravity of the problem on December 20. The firm detailed their strategy to pay all impacted customers back for their losses. Ledger is taking a proactive stance towards client security and safety by committing to resolve the problem before the end of February 2024.

Ledger has announced a major policy shift involving the signature of transactions, in addition to the refund scheme. By June 2024, the business plans to have completely eliminated the use of blind signing on all of its devices. Improving security and lowering the likelihood of future vulnerabilities of a similar kind is the primary goal of this decision.

The hardware wallet has joined forces with the decentralized application (DApp) ecosystem to provide “Clear Signing.” With this effort, users will be able to double-check their Ledger devices for any and all transaction details before confirming them. 

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According to Foresight News, Ledger has addressed last week's security incident, stating that approximately $600,000 worth of assets were affected. These assets were stolen from users who performed blind signing on EVM DApps. Ledger will ensure assistance to affected individuals in attempting to recover their funds, with a deadline set for the end of February 2024.

The company has also pledged to collaborate with the DApp ecosystem and will no longer allow the use of Ledger devices for blind signing by June 2024. Instead, they will adopt a clear signing method.