Ledger’s recent announcement that it would no longer be providing updates for its widely-used Nano S hardware wallet has caused an uproar among consumers. The company cited memory limitation as the key factor for discontinuing support. Unfortunately, thousands of Nano S owners are now faced with an untenable dilemma. They must now decide whether to invest in newer Ledger devices or risk the potential security vulnerabilities of continuing to use their outdated Nano S wallets. This action serves as a reminder of the difficulties of keeping something long-term compatible in the ever-evolving world of cryptocurrencies.

The Nano S, once a popular entry-level hardware wallet, lacks the memory capacity to support the growing number of cryptocurrencies and applications. As the crypto ecosystem grows, these software updates get bigger and more taxing. Ledger’s decision is a sign that it’s becoming more challenging to meet these expectations on dated hardware.

Users are voicing their anger, sadness, and frustration with Ledger’s move on Twitter, Reddit, and other online spaces. Others say they’ve been left high and dry by the firm. Users stumped their support and confidence in the Nano S, looking forward to continuous support and security upgrades. Many users claim that Ledger should have predicted the memory constraints. They wish that the company had provided more considerate alternatives, such as a trade-in program or a longer phase-out of support.

The implications of the ruling have already stirred up fears that hardware wallets are no longer long-term value propositions. And of course, as the cryptocurrency industry grows and develops, older devices will quickly become outdated, leaving users no choice but to upgrade from time to time. This creates an untenable financial strain. That is especially so for everyone who first chose the Nano S because of its low price point.

Ledger’s decision is a powerful example of how fast the cryptocurrency industry is changing. With the unrelenting pace of new cryptocurrencies, protocols, and security issues, maintaining year-round is unfortunately not enough. Regularly updating software and improving hardware is imperative. Firms such as Ledger run the tricky gauntlet of mixing innovation with a responsibility to support their current user base and devices.