Clear Signing With Ledger Live Integrations

Ledger’s mission is to bring transparency to every transaction you carry out on your wallet. To achieve this, we’ve enabled “clear signing”- when full smart contract transaction details can be displayed on the device’s trusted screen – with every one of our integrated apps within the Discovery section of Ledger Live.

No matter how quickly Ledger is integrating new apps within its secure ecosystem, you’ll likely still want to use non-integrated platforms at times as you make the most of Web3. During these transactions, you’ll be prompted to “enable blind signing” on your device in order to interact.

Enable Blind Signing Explained

When you enable blind signing, you enable your device to approve a smart contract transaction, even though it hasn’t been able to display full contract data to you.

What is blind signing ledger

However, blind signing can also be used as an attack vector for hackers to steal assets.

Smart contracts require digital signatures, which function as a form of consent to the terms and conditions for everyone involved in a particular transaction. Traditionally, you have to know what you’re agreeing to in the fine print before you sign a contract. However, the front-end of most decentralized applications only provide a bird’s eye view of the process entailed in a smart-contract call.
With the simple click of a button, you can sell an asset at a particular price and confirm the transaction with your private key via a Web 3 wallet—all without having to look into the code behind it, which would most likely be unintelligible to most users.

What is blind signing ledger reddit

How to Stay SafeKey Takeaways:— Blind signing means confirming a smart contract interaction you don’t have full transparency over

— This can be either because your wallet can’t extract the details, or because you can’t trust the computer screen itself (hacks are always a risk)

— Ledger is making blind signing a thing of the past; your Nano can display full smart contract details on its trusted display, any time you interact with an integrated platform

— But when you’re interacting with apps outside of Ledger’s ecosystem, you will need to enable blind signing on your device

— Here’s the lowdown on how that works – and how to maximize your security, no matter where you’re exploring

Wondering why you’re being asked to enable blind signing? Here, we explain why it’s necessary and how to stay safe.

The ol’ blind signing is a hot topic here at Ledger.

What is blind signing on ledger nano x

In other words, you’re agreeing to trust, instead of verify, the transaction.

If this sounds like more of a risk, that’s because it is. Blind signing by definition lacks vital transparency – but with the dApp and DeFi ecosystem expanding so rapidly, it’s a process that sometimes cannot be avoided.

In these cases, you are the gatekeeper for your crypto: that means doing some due diligence to ensure things check out before you sign. So what other indicators can you look at to check that your transaction is credible and safe?

Enable Blind Signing Check List – DYOR for your Transactions

Let’s be clear from the start: none of these factors will give you the same transparency or security as seeing the contract data itself.

Crypto’s Greatest Weakness? Blind Signing, ExplainedKey Takeaways:– Blind signing is one of the most insidious tricks being leveraged by scammers to steal your assets.

– The smart contracts used in present-day dApps and NFTs contain key contract details – but these cannot be fully extracted and displayed by most wallets and users sign without knowing what they are agreeing to.

– Instead of trying to break the door open – scammers are relying on you to open it for them by tricking you into blind signing.

– Our latest upgrade overcomes that by providing clear signing for every integrated dApp.

If you’ve been hearing about blind signing, but you’re not sure what it means, then look no further. Here, we explain the concept.

If you’re reading this, you already know that crypto is a hot property.

What is blind signing ledgering

  • NEVER interact with anyone who sent you a private message on Discord, Twitter or any other social platform – remember, in Web3, nobody has any reason to reach out to you personally.
  • Always use a hardware wallet – this means you can still make sure those all-important private keys stay offline as you interact, giving you a security baseline.
  • After you’ve completed your transaction, use the settings in your app to disable blind signing once again.
  • And HEY – NEVER GIVER YOUR SEED PHRASE TO ANYONE. CAPICHE??
  • Minimize Your Risk: Set Up A DeGen Wallet

    There is one final point we need to mention here – and it might be the most important of all. A DeGen wallet is another name for whatever wallet you’re using to interact with smart contracts – your active Web3 wallet, in effect.

    When security meets Decentralized Finance

    Are there parts of the legacy finance industry which are ripe for disruption by secure and efficient technologies? If you answered YES, you’re a believer in Decentralized Finance (DeFi).

    The growth of Decentralized Finance (DeFi) is opening a new world. DeFi leverages smart contracts to bring sophisticated financial instruments to market, instruments that are decentralized and running in blockchain code.

    We at Ledger truly believe in DeFi, and we want to give developers worldwide the opportunity to create Decentralized Applications (DApps) that use our platform and integrate them into the Ledger ecosystem.

    We just made developing for Ledger easier.

    In this article, we explain how developing for the Ledger ecosystem works.

    So instead of trying to break the door open – they are relying on you to open it for them.

    A prime example of this is NFT drops on lesser known websites – NFT mania has caused huge demand for these digital assets, and drops are designed to play on that excitement. But before you give a blind signature for an NFT drop, think – if it’s not a well known brand, can you be sure the transaction you’re verifying is what you think it is?

    Private messages are another hotbed for this type of threat. A recent incident saw scammers posing as OpenSea tech admins on Discord.
    An experienced collector looking for technical help started a conversation about his account, believing he was talking to a service advisor. In the course of the chat the advisor asked him to approve a transaction call – showing no contract details – using his Ledger Nano.

    This is why our “Trusted Display” is invaluable in making sure you know exactly what you’re agreeing to.

    However, although your Nano will always display accurate transaction details, this is only possiblewhen those details are available.And this is not always the case.

    Let’s say you’ve got the right security measures in place and that you’re making a swap using a combination of your Ledger device along with the soft wallet that’s connecting you to the dApp – good job!

    But, as we previously mentioned most software wallets i.e the middleware between your device and the dApp areunable to read and fully extract the smart contract elements of the transaction.

    BUT… most hardware wallets use MIDDLEWARES such as metamask, wallet connect and others to access the dApps you’re trying to use. Although these middlewares can help (sometimes) understand the contract data, the hardware wallet displays its content in its raw form (123AFE456…). So even if a hardware wallet screen enjoys what we call a trusted display… the information here can be trusted, but can’t be easily verified.

    And hence, even if you can verify the content of your transaction, because it’s so cryptic… you end up blind signing, EVEN IF you’re using a hardware wallet.

    Let’s have a look at an example.

    [ROBIN TUTORIAL – note keys are safe but transaction details are still absent.]

    SCAMS

    So how do the scams work? Well, it’s not just CRYPTO NOOBS who get targeted – a couple of well known CRYPTO JUNKIES recently got taken to the cleaners.

  • When the hardware wallet displays the payload that users are about to sign with minimal parsing, it makes it difficult to actually verify what they are about to consent to.
  • To solve this issue, we’ve developed a simple Ethereum plugin mechanism minimizing the burden for developers to support the smart contract interaction while providing maximum security to users thanks to the secure display. This mechanism will be explained in detail in a further blogpost.

    Conclusion

    With the 2.29 release of Ledger Live, we intend to provide an environment to easily integrate a DApp, with minimal—and standard—modifications.

    We are very excited by this release and the possibilities it creates to easily integrate the world of DeFi and DApps into Ledger Live. We hope to add many more DApps in the near future.

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