As Ledger faces public backlash, let's take this opportunity to remind ourselves what a seed is, the concept of cold/hot wallets, and how BTC transactions work.
As Citibank rightly recalled this week, “Bitcoin’s electricity consumption is a feature, not a bug.” It is necessary to guarantee its decentralisation and cannot be obtained with the wave of a magic wand. This paper explains how Bitcoin’s decentralisation works, and why other cryptocurrencies can’t reach the mark. The legend…