Ledger Live New Version Launches Coin Control Feature To Protect Bitcoin Transaction
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Ledger Live New Version Launches Coin Control Feature To Protect Bitcoin Transaction

September 18, 2020      Jyoti Singh

Nano S and Nano X, the creator of Ledger, have introduced the updated version of the Ledger Live software, which has a new feature called Coin Control. The update has been introduced because Ledger believes that using standard accounting practices for crypto storage could be risky for it.

Ledger Live Manages Cryptos In Devices

The newly-launched version of Ledger Live will allow users to manage those cryptos which have been accumulated in their devices. 

As per the notification, now, Ledger customers’ would not have to use their oldest stored coin for processing the transaction. In fact, now they can go through their Bitcoin addresses before making any transaction. 

The hardware wallet company, while talking about the new Coin Control feature stated that it would prevent the identity of the users from the third party. 

Usually, when the user processes the transaction through their Bitcoin address, others can easily trace it using dust, but now they can not do so. 

Bitcoin Dust Helps In Tracing Users Identity 

Very small amounts of BTC, used for processing any payment, cost less than the transaction fees and those are called Bitcoin Dust.

According to the report, dust is basically used by blockchain analytics firms and investigators. They send it to certain addresses to trace the identity of the users. If the user accepts the dust sent by the investigators or spend it on anything, then the analyst traces their identity. 

As  Ledger introduces its new version, it claims that now the users would not have to use unspent transaction outputs called UTXO.

Ledger, while discussing the benefits of Coin Control, stated that if the users still spend the UTXO sent by the investigators to clean their wallet, then they could go for the valuable ones which could save their transaction fees too. 

The hardware wallet company also mentioned that the users can allocate specific addresses for purposes in order to clean the wallet.

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Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.