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Watch out for the open source label. Sometimes it isn't true

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by COINS NEWS 85 Views

Watch out for the open source label. Sometimes it isn't true

So something I am seeing more and more popular is hardware wallets saying they are open source when they currently aren't. In many cases, they will say they are planning on becoming open source. But there is no hard date on this, nothing showing if it will really become open source, and nothing to help for if they lied.

The 2 examples I will give doesn't mean these are bad companies or it will never become open source. It's just, most would expect if a product says they are open source..... That it is actually open sourced.

The following is from Yodel_And_Hodl_Mode, or at least they pointed it out to me.

https://preview.redd.it/opqazl6bgm3c1.png?3120&format=png&auto=webp&s=45f77bf6335663da6d949bd9909e1bb772e3d2e9

In short the Ledger box is saying it is open source. Still today, it isn't open source.

There was a lot of huff after Ledger brought in the recovery feature. This making their hardware wallet from a cold wallet into a hot wallet. And note they mentioned they will make it open source so we can verify them. But still today they never did. Instead they ended up banning users on reddit who spoke up and asked questions.

The next I don't think they are scamming. I think it's just a company that pushed out a product way too quickly since their new hardware wallet doesn't have many of the coins as the previous version. And they have an expected date of next month after the audit. It's Keystone.

https://preview.redd.it/cyo36wsmhm3c1.png?1698&format=png&auto=webp&s=f2cd7d519ebfe2b7538e234d0531896b7428ecdc

Basically between now and then we have to trust the company, and it is possible that delays could happen.

submitted by /u/crua9
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