Posted 2 years ago | by Ben Armstrong
Samsung Improves Cryptocurrency Functionality in Galaxy S20 Models
Samsung unveiled that it will be continuing to support the use of cryptos at the Unpacked 2020 event in San Francisco. The South Korean technology giant revealed its latest smartphone series, the Galaxy S20, which will be ready to go with cryptos.
The new camera is not only the headline feature but also improves on the integrated blockchain security features introduced a year ago on the Galaxy S10.
Samsung highlighted the new security features, which builds on a defense-grade security solution that stores private keys in am isolated area, called the Knox platform. While these phone-based wallets aren't likely to challenge cold-storage in terms of security, they are far more convenient to use.
Samsumg Creates Mobile Crypto Solutions
Samsung is building up mobile crypto solutions from the top down.
The Knox platform was revealed in the Galaxy S10 last February. Samsung then developed its mobile blockchain offering by releasing a software development kit in July 2019, including a toolkit for managing the Samsung Blockchain Keystore to hold users’ private keys.
The Samsung Blockchain Keystore allows users to create decentralized apps acting within the phone.
“We created a secure processor dedicated to protecting your PIN, password, pattern, and Blockchain Private Key. Combined with the Knox platform, security is infused into every part of your phone, from hardware to software. So private data stays private.”
PundiX, a cryptocurrency startup, announced that it had integrated its XWallet app into Samsung’s blockchain ecosystem last month, which allows users to link the app to their Samsung Blockchain Wallet. The Bitcoin-support was also added by Samsung to its Blockchain Keystore, it was an Ethereum only platform prior that upgrade.
More Development Coming
Samsung has confirmed its commitment to cryptocurrency and blockchain technology by releasing the Galaxy S20, along with its big brothers the S20+ and S20 Ultra.
The company is planing to integrate its Knox platform beyond mobile devices, and into a network-connected devices. Samsung is focusing on venture capital business giving capital and mentoring to different blockchain startups.
The new model Samsung Galaxy S20 will be available from March 6, in the United States, Australia, and the United Arab Emirates, and from March 13 in the United Kingdom.
With the ease of use that will come with electronics which are designed by major firms, more people are likely to use cryptos as a means of payment. It is likely that as the next few years unfold, cryptos will take up a more prominent position in the life of everyday people.