Samsung issued an official announcement to inform users that they can now manage and trade cryptocurrencies from third-party wallets directly on Samsung Galaxy smartphones.
This update gives blockchain users a more convenient and faster way to process transactions between digital assets by transferring funds from cold storage wallets to the Samsung blockchain.
Samsung Galaxy series smartphones are also currently supported Hardware wallets including Ledger Nano S and Ledger Nano X.
Since the Samsung Blockchain KeyStore was first launched in 2019, four cryptocurrencies have been supported by the wallet: Klaytn (KLAY), Ethereum (ETH), ERC-20 token, Bitcoin (BTC) and TRON (TRX).
In addition, the encryption products were expanded to include decentralized applications (DApps). There are now more than 40 Dapps integrated into Samsung’s blockchain platform, and developers can use it to build their own applications for applications in finance, social media and even the video game industry.
For the management of the virtual currency, the security of the device is of the utmost importance. The private keys used for cryptocurrency and DApps are encrypted and stored in an area isolated from the main operating system.
Samsung Electronics wrote:
“This information is further protected by a secure processor and can only be accessed by providing the asset owner’s PIN or fingerprint.”
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