Is your trusty Ledger Nano S getting ready to be a mere paperweight? Ledger has triggered a justified backlash with their announcement that support for the Nano S would be sunsetting. After all, we clicked “Add to Cart” on these very devices based on a marketing promise of unbreakable, long-term, secure storage for our digital treasures. Now, thousands of users are understandably feeling duped, even wondering if their hardware wallet security was a lie all along. Before we grab our pitchforks, let's ask a tough question: is this end-of-life announcement a necessary evil in the relentless pursuit of crypto security?

Obsolescence Inevitable, Security Paramount?

Think about your smartphone. Remember that shiny new iPhone 4S? It likely still powers on, but would you put your banking apps on it today with any kind of faith? Probably not. Technology marches on, and security threats and evildoers evolve at an accelerated tempo. The Nano S, amazing as it was at the time, is a product of 2016. Its limited memory just doesn’t have the bandwidth to sprout limbs in the shape of new blockchains, applications, and ever more clever attempts at hacking that security.

Ledger’s CTO has repeatedly claimed that memory limitations are the main reason for discontinuing support. The Nano S just does not have the capacity to accommodate the increasing number of blockchains, applications and features that will be required for your continued security. Making it function that way is similar to putting a V12 engine in a Mini Cooper. Sooner or later something will break and that means your private keys are in jeopardy.

Consider the alternative: continuing to support the Nano S with outdated technology. This may create dangerous unpatched vulnerabilities that hackers can exploit, potentially allowing them to steal users’ funds. Is it really worth pinching pennies on a new piece of equipment? In the process, you might end up flushing your entire crypto portfolio down the toilet. Hardware wallets lure users with the promise of safely storing crypto for decades. A more urgent question is, can these wallets be renewed every 5-10 years?

Progress Demands Sacrifice and Innovation?

We live in a society addicted to shiny objects. Each new year unleashes waves of more powerful processors, higher resolution screens and glitzier capabilities. Yet in the world of crypto, this constant innovation is so important. As new blockchains launch, new protocols are developed on top of previous ones, and security threats continue to advance and evolve. In order to protect our digital assets in the best way possible, our hardware wallets must evolve.

The Nano S has a hard time accommodating clearer transaction signing messages. It misses on features to swap on all chains, deploy language packs, Transaction Check functionality and support for Ledger Sync. You can continue to send, receive, buy, sell and swap Bitcoin, Ethereum, and hundreds of other major apps on the Nano S for the time being. Its day will soon come and go.

Ledger provides a 20%-upgrade discount for existing Nano S owners to upgrade to older models. Or are the new Ledgers becoming prohibitively expensive? People have been concerned that the new Ledger models (Flex, Stax and X) are too expensive. These costs far outweigh that of the original Nano S.

This highlights a fundamental challenge: how do we balance the need for cutting-edge security with the desire for affordable, long-lasting hardware? Perhaps a subscription model would be best. Users would subscribe for cloud-delivered security updates in the form of perpetual licenses as part of long-term support. Or perhaps a more community oriented model, one where developers help keep more legacies of past hardware alive, would offer a more exciting and sustainable way forward.

The Future: Sustainable Security Models?

Nonetheless, the Nano S development ushers in a more existential line of questioning around the long-term viability of these hardware wallets. If we have to replace them every 5-10 years, are they truly the panacea for safely holding crypto?

The solution, I contend, is in pursuit of sustainable security models. Let’s change our culture from transactional purchases alone. Adopting a culture that recognizes and accepts that projects require regular maintenance and upgrading is key to success here. Think of it like owning a car: you can't just buy it and drive it forever without changing the oil, replacing the tires, and fixing any mechanical issues.

Maybe someday we’ll have hardware wallets with tiered SaaS business models. Basic plans might include just the most basic security patches, while more expensive premium plans offer the latest features and direct access to support engineers. This model ensures that customers are always getting the most up-to-date security features. What’s more, it provides Ledger the predictable, sustainable revenue stream to support continued development.

The passing of Nano S is more than an incalculable loss. It’s our much needed wake up call. We need to reset our hopes and deal with the hard truth of technological obsolescence. Together, let’s demand that the hardware wallet industry do better and provide security more sustainably. Of course, we understand that it feels “uncool” and perhaps even a bit “scammy” at the moment. Readers should understand that sometimes, the road to real security leads through difficult decisions. In the often-tumultuous world of crypto, security is the one thing we can’t skimp on.