Samsung Electronics added new support assets this week for blockchain users with hardware wallets. The move will impact mobile galaxy owners and allow them to use third-party hardware wallets with the Samsung Blockchain Wallet app. In its press release, Samsung tried to explicitly provide hardware support for the Ledger Nano S and Nano X. However, the company announced that it plans to support more cold store wallets in the future.
The journey to initiate hardware support naturally began with a simple blockchain integration. In 2019, Samsung released Samsung Blockchain and Dedicated Crypto Wallet support without extensive fanfare. The company introduced the blockchain software along with the Galaxy S10 version. A main focus of the blockchain offering is the supplied software development kit. The kit opened the door to Samsung to help developers create decentralized apps. Dapp support is controlled via the Blockchain Keystore SDK.
The other main focus of the Samsung blockchain is of course on security. This is done via the “Samsung Knox” and “Trusted Execution Environment (TEE)” described by the company. Knox is a secure repository for crypto users that is separate from the main operating system and only accessible via a PIN or biometric authentication. Knox is essentially a “secure processor for protecting your PIN, password, pattern and private blockchain key,” as the company describes it.
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The update to support cold storage wallets applies to Galaxy users with Android 9.0 and higher. The company also warned that when first launched, Nano X Bluetooth capabilities may be limited.
The Korea-based company continues to keep promotional activities for new blockchain-related features a little under the radar despite continued and evolving support.
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Continuation of the crypto support
Samsung has continued to release crypto support with a relatively quiet approach. In 2020, the company partnered with Crypto Exchange Gemini to optimize the customer experience for Galaxy users. The company continues to offer consumer and developer assets, such as a dedicated crypto newsfeed available on the Blockchain Wallet app. For developers in particular, the offers include extensive resources, e.g. B. APIs that enable Dapps to securely sign for the transfer of virtual assets.
After initially supporting Ethereum in 2019 and adding Bitcoin shortly thereafter, the company now offers over 30 coins, including stable coins. Samsung remains relatively calm despite seemingly continued investments. In a public statement, the head of the blockchain and VP Woong Ah Yoon stated that the monthly active users of the blockchain app have doubled in the past seven months. Yoon added that the smartphone wallet is currently being used to hold hundreds of millions of USD in AUM (Assets Under Management) without sharing hard numbers.
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