Samsung Blockchain Keystor: Definition | Safety | Features and cryptocurrencies. The Samsung Blockchain Keystore is the Samsung innovation that wants to change the relationship between blockchain technology and the world of mobile phones and smartphones, focusing on greater security.
Launched with the Samsung S10, the feature was implemented in the other flagship, the Samsung S20.
What is the Samsung Blockchain Keystore
The Samsung Blockchain Keystore is a system that guarantees Samsung smartphone owners to be able to safely handle apps and dApps linked to blockchains and cryptocurrencies.
As explained on the official Samsung website , the main task of the Keystore is to easily secure and manage private information and digital keys, in complete safety.
For this to happen, these keys are never saved on the device or on the external cloud .
Cryptocurrencies and supported features
Thanks to the Keystore it is possible to create, store, manage and backup a private key. It is also possible to import private keys already generated by third-party applications. This can be protected by a pre-set mandatory PIN, with the possibility of further protection through fingerprint authentication.
Another feature is the authorization of digital signatures for use with Android apps and services that require a private key for greater security during transactions or purchases.
Samsung Keystore, thanks to what is called Trusted User Interface (Trusted UI), guarantees the exchange of information between applications and consumers so that they are not accessible or modified by any malware or unauthorized application.
Finally, it allows the enabling of cryptocurrency transactions.
Initially, the Samsung Blockchain Keystore and wallet only supported Ethereum. Bitcoin was later added. Tron has also recently joined . Last in chronological order is Stellar . It also recently added an integration with the Gemini exchange. Thanks to this integration, users will be able to easily buy, buy and sell cryptocurrencies while benefiting from greater security.
Finally, thanks to the SDKs, users will be able to develop integrated and compatible dApps with the Keystore.
At the moment, the flaw of this system is that it only supports a few cryptocurrencies. But it cannot be excluded that others available within the wallet will soon be added.
What is certain is that Samsung focuses on the security aspect, which is one of the central problems that tend to hinder the arrival of new users in the world of cryptocurrencies and blockchain. With the Keystore integrated on the top of the Samsung range, the smartphone giant aims to overcome this obstacle and thus broaden the use of cryptocurrencies and those who develop applications based on blockchain.
Samsung and Gemini team up for mainstream cryptocurrency adoption
The latest generation Samsung Galaxy smartphones can now connect directly to the Winklevoss brothers’ exchange, Gemini.
A pro-crypto giant
Samsung, which accounts for 19% of global smartphone sales and sold nearly 300 million units last year, is not at its first attempt to popularize cryptocurrency. A dedicated team of 200 people is dedicated to this.
Its first initiative: an application to store Ethers and tokens in ERC-20 format. Then, very quickly, a Samsung Blockchain Wallet was integrated into the Galaxy S10 range supporting Bitcoin.
The South Korean firm today goes even further. It offers US and Canadian users of its high-end smartphones (including its latest flagships Galaxy S20, S20 + and S20 Ultra) to connect directly to the Gemini mobile app to buy, sell and trade cryptos . Twenty of them will now be just a click away. The Winklevoss brothers, happy with the collaboration, announced it on their site.
The Samsung Blockchain Wallet is a convenient and secure crypto-wallet that allows users to self-keep their crypto directly on their Samsung Galaxy phone that supports Samsung Blockchain. By connecting their Samsung Blockchain wallet to Gemini, users (…) can view their Gemini account balances and also transfer their cryptos to cold storage with Gemini Custody for the highest level of security. “
Increased security
Controlling the private keys of a crypto wallet is often overlooked. By focusing on maximum security that allows personal possession of its digital assets directly on your phone thanks to a patented custody solution, Samsung is truly positioning itself as a market leader.
“For millions of Samsung users in the US and Canada, the ability to store crypto directly on their phones lowers another barrier to entry.”
Jeanine Hightower-Sellitto, Managing Director of Operations at Gemini
It should also be noted that the Ledger Nano S or Nano X are directly compatible with Galaxy smartphones since the Korean electronics giant took a stake in one of the world references in the field of physical portfolios of digital assets.
With this partnership, the user experience becomes simple, efficient and secure. Unstoppable assets to really stimulate the general public adoption of cryptocurrencies.
