Staking Coins on a Cold Wallet is Now Possible Thanks to Particl and Ledger
Originally published on: CoinSpeaker
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August 15, 2018
Leading hardware wallet provider Ledger now supports Particl (PART) cryptocurrency to allow for safe and secure staking on a cold wallet.
In November 2017, PART opened the doors to safe and secure staking of wallets without the need to expose coins on hot wallets, as it became the first Proof of Stake (PoS) coin to allow for cold storage staking – termed by Particl as “Cold Staking”.
Now, the Ledger Nano S fully supports Particl’s Cold Staking, securing PART coins offline while giving users the ability to retain them for active voting, governance participation and consensus provision for a share of stake rewards. Particl is the first 100% PoS blockchain project to integrate offline staking directly with Ledger hardware.
The premier choice for digital asset security, Ledger Nano S represents itself a hardware wallet capable of supporting up to 18 currencies simultaneously. Particl apps for both PART testnet and mainnet are now available for use, while Ledger Live can be used to easily manage the assets, including PART, on all Ledger devices.
Particl’s integration doesn’t compromise security – no private keys are exchanged between the Particl-Qt client and the Ledger Nano S hardware. Storing PART on the Ledger and delegating its staking to a cold staking node from a cold wallet is now possible and still simple. Passive PoS income can now be earned without complicated access procedures.
PART’s integration and cold staking represents a historical first mainnet release of a 100% PoS hardware cold staking setup, combining flexibility and accessibility with decentralized security.
Particl continues to pioneer several improvements on its protocol basecode (Bitcoin 0.16.1), introducing Ring Confidential Transactions (RingCT) that has undergone audit and review by NJIT and WSA researchers. It is the only Bitcoin-based project using Confidential Transactions in PART coin transactions, making senders and receivers untraceable.
Particl has a Minimum Viable Product (MVP) in development in the shape of the Particl Marketplace that aims to provide online buyers and sellers confidential eCommerce.
Now in its fourth year of operations, Ledger has made its name providing the best in security and infrastructure for blockchain apps and cryptocurrency projects. Its team of 80 professionals across offices in France and the USA continue to develop consumer and enterprise products in 165 countries worldwide.