Samsung’s Galaxy S10 Cryptocurrency Wallet without Bitcoin
Samsung has offered a new service in its newest phone model Galaxy S10; cryptocurrency wallet which supports working with cryptocurrencies, but apparently Bitcoin does not have a place in this...
Samsung has offered a new service in its newest phone model Galaxy S10; cryptocurrency wallet which supports working with cryptocurrencies, but apparently Bitcoin does not have a place in this new service. This new model of Samsung phones is equipped with an application to work with cryptocurrencies in the Blockchain, but it seems that there is no enthusiasm to support Bitcoin in this application. Samsung has announced that in their opinion, Bitcoin is not the most important currency available in the cryptocurrency world and has only reached this notoriety by virtue of being the first cryptocurrency. Therefore, they believe that other cryptocurrencies such as Ethereum should be supported.
Blockchain Wallets and Android Smart Phones
Smartphone manufacturers have discovered the potential capacity of Blockchain more than any time. Samsung is not the only company seeking to implement applications to use Blockchain in its smartphones. A number of other companies are also looking into manufacturing Blockchain-based smartphones that make possible calling, messaging and other services via Blockchain.
What do Ethereum coverage and not paying attention to Bitcoin by this technology giant mean? Why do well-known technology brands not take kindly to Bitcoin? For example, it took a lot for the well-known browser Opera and Coinbase wallet to come around to Bitcoin.
Samsung and Cryptocurrencies
Samsung believes that smartphones are one of the best platforms and infrastructures for maintaining the security of cryptocurrencies. Samsung smartphones use the TEEs system. TEEs, short for Trusted Execution Environments, is considered to be very suitable for storing Blockchain assets. This system is part of the smartphones’ hardware that are separate from the main processor and memory. The only way to access the information stored on this system is by using the application that is secured via an API or an application programming interface. So smartphones seem to be a very good option to provide the security of cryptocurrencies.
Therefore, Samsung claims that with this system and definition of proper cryptocurrencies, there will be no way for malware to penetrate the Blockchain system, and the security of transactions and different measures taken in this infrastructure will be fully provided.
Also, the existence of an infrastructure to provide quick and easy access for people who are constantly working with cryptocurrencies is necessary. Using Android phones and iPhones provides easier and quicker access for people compared to MacBooks, laptops, etc. Although, the experts in this field believe that despite the extensive security that these smartphones can provide for protecting cryptocurrencies, keeping all the crypto assets on your smartphones is not a smart move, and you should use ledgers and digital wallets.
Smartphones’ entering the crypto world is interesting and pleasant news which indicates huge changes that will take place toward making cryptocurrencies more widespread