Samsung has finally revealed the cryptocurrency wallet it has decided to use in its recently launched flagship smartphone S10.
According to a Coindesk report, the Korean smartphone manufacturer has developed its own crypto wallet platform – Samsung Blockchain Wallet – for digital currency storage in the new devices. Currently, the wallet platform is only supporting Ethereum and ERC-20 tokens.
However, based on the previously displayed Bitcoin logo during the launch of the platform, it can be anticipated that the manufacturer will extend the storage support for the market-leading digital currency as well.
Apart from the crypto storage platform, the phone is also supporting four decentralized applications (DApps) – crypto gaming platform Enjin, beauty community Cosmee, crypto collectibles platform CryptoKitties and merchant payments service CoinDuck – as per the report.
Though Samsung has assured that it has plans to expand the crypto storage services to more devices, for now, the wallet app is available only for S10 line of smartphones.
The Best PSPs for Forex Brokers in One UTIP App Go to article >>
The Korean giant has also revealed that the crypto wallet will be based on a solution called Blockchain Keystore which offers three broad features to the digital currency users – payments to merchants, digital signatures and cryptocurrency storage and transfers.
According to reports, Samsung Blockchain Wallet and Blockchain Keystore will work together to simplify the process to the crypto users.
Growing Trend to Add Crypto Support on Smartphones
Samsung is not the only player in the market to jump on the crypto bandwagon with the growing market demand for crypto hardware wallets.
Though started by Sirin Labs with the launch of the first blockchain-enabled smartphone FINNEY, the trend was carried forward by the Taiwanese phone maker HTC with its blockchain-based smartphone Exodus.
Recently, HTC has also joined hands with Opera to bring micropayments crypto payment services. Exodus also features a number of other blockchain-based services including support for DApps.
Earlier this month, VaultTel has launched a mobile-based crypto cold wallet integrating both hardware and software support for better security.