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Samsung is developing a Cryptocurrency portfolio to support Bitcoin, Ethereum and Ethereum based on ERC 20 tokens.
The Korean smartphone giant is developing Cryptocurrency portfolios for its latest launch of the Galaxy 10 series, which should be launched at the start of 2019.
Samsung is separating the portfolio into two components:
- Cold wallet for storing public and private keys, signing transactions with the private key.
- Transaction portfolio for displaying account information, transfers and transaction history.
Most likely, the cold wallet will be similar to the standard cold wallets in the Crypto industry. It will be used to safely store Cryptocurrencies with a standard 12-24 word recovery phrase used for recovery in the event of a phone loss. Sammobile reports that user data such as account information will be stored on the Blockchain network with "complete anonymity".
So Samsung will not have any access to the data and the user will have full control over his data.
Users will be able to import their private keys from existing third-party services such as the Metamask and Trust portfolio into the cold wallet app.
"The initially supported cryptocurrencies and tokens may include Bitcoin, Ethereum, token derived from Ethereum ERC20 and Cash Samco reports."
According to Galaxy Week, Samsung had deposited three blockchain-based European brands, namely: Blockchain KeyStore, Blockchain key box and Blockchain Core.
Samsung has not yet officially released any information on these developments, there is limited information on specific details about the specifications of their product.
Take of Blockmanity
Samsung is the second major smartphone company after HTC took huge steps in integrating Blockchain solutions into smartphones. HTC's Exodus is ready for the launch in December of this year.
Instead of launching a separate Blockchain phone, Samsung plans to make Cryptocurrency wallets an integrated feature of its mainstream phone series. This is a huge step in the adoption of Cryptocurrencies.
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