Samsung widens its blockchain support on Galaxy smartphones

By Amirtha P S, Desk Reporter
  • Follow author on
Samsung
Representational Image

The South Korean multinational conglomerate Samsung’s Blockchain Wallet will now allow users to manage and trade cryptocurrencies from third-party hardware wallets through an update on Galaxy smartphones.

The users of Galaxy smartphones will be able to keep up with the latest trends in the cryptocurrency system with a dedicated newsfeed app from leading news outlets. The Blockchain Wallet supports Bitcoin, Ethereum, and other cryptocurrencies.

In the announcement regarding the update for Samsung’s Blockchain Wallet, the company stated that the “support for hardware wallets provides Galaxy blockchain with a consistent user experience of managing crypto assets from one convenient location.”

In addition to the Samsung Blockchain Keystore, Galaxy smartphone users can now connect to hardware wallets including the Ledger Nano S and Ledger Nano X through the phone.

Since Samsung launched the Galaxy S10, it supports Bitcoin, Ethereum, ERC tokens, Tron (TRX), and TRC tokens. Further, it allows Galaxy users to explore Decentralised Apps (DApps) that rely on blockchain technology to authenticate the exchange of digital assets.

The South Korean tech giant claims that its blockchain transactions will be made secure using its defense-grade Samsung Knox security platforms. The private keys used for cryptocurrency and DApps are encrypted and stored in an area isolated from the main operating system called the Samsung Blockchain Keystore and it is protected by a secure processor and can only be accessed with the asset owner’s PIN or fingerprint.

Samsung will allow developers access to its blockchain ecosystem with the Samsung Blockchain SDK. “Developers can build DApps that generate, store, and manage blockchain accounts easily and process transactions with APIs dedicated to each ledger system. It also provides APIs allowing DApps to securely sign for transfers of virtual assets using third-party hardware wallets,” the company added. 

Related: Tesla’s drops bitcoin support for car payments citing environmental issues


YOU MAY LIKE