Samsung Galaxy S20 Offers Secure Cryptocurrency Storage


South Korean tech giant Samsung recently revealed that its new S20 range would keep the support for digital currencies. It originally introduced in the S10 range. Samsung Galaxy S20 also offers secure cryptocurrency storage. It will be available from March 6 in the US, Australia and the UAE, and from March 13 in the UK.

06 March, 2020 | AtoZ Markets – Samsung is making significant progress in the blockchain world lately. In February 2019, the Samsung Blockchain wallet was already integrated as a crypto wallet, which was a standard program for the Galaxy S10. Users can securely send, receive and store cryptocurrencies with this wallet.

Samsung Improves Blockchain Security on Galaxy S20

Samsung has recently revealed its latest smartphone series, the Galaxy S20, at the Unpacked 2020 event in San Francisco. According to the official, the phone will improve the integrated blockchain security features introduced a year ago on the Galaxy S10.

Samsung has given much more importance to the improved battery life and image capture capabilities of the S20. But the reference to private keys suggests that the new Samsung Galaxy S20 model will continue to have the same cryptocurrency storage facilities than previous models. Moreover, cryptocurrency private key storage will be available on the entire S20 range.

Samsung highlights the security features of the new phones based on the Knox platform. It is a defence-level security solution that stores private keys in an isolated and secure location. Samsung said:

“We have created a secure processor dedicated to protecting your PIN code, password, and Blockchain Private Key. Due to the Knox platform, security is combined into every part of the phone, from hardware to software, so private data stays private.”

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History of Samsung Cryptocurrency Wallet

Samsung added cryptocurrency support for the first time in March 2018. At the time, it integrated a wallet device into its cutting-edge model, the Galaxy S10.

The unveiling of the Knox platform in the Galaxy S10 was last February. Samsung has continued to develop its mobile blockchain offering with the release of a software development kit in July 2019. A development kit that has enabled third parties to create dapps specially designed for the phone. One of these dapps allowed users to pay in stored cryptocurrencies for goods and services by scanning a merchant’s QR code. This kit also included a toolbox for the Samsung Blockchain Keystore, which holds users’ private keys.

At the time of launch, the wallet was only compatible with ether and ER20 tokens. Samsung then added Bitcoin support to its Blockchain Keystore, along with several other advancements in September 2019. Later, the company released an edition of the Galaxy Note 10, a smartphone/tablet hybrid with cryptocurrency functionality. But Samsung added TRON support in last October.

Later this month, PundiX announced that it had integrated its XWallet app into the Samsung blockchain ecosystem. It also allows users to link the app to their Samsung blockchain Wallet.

The company said in May for its S10 range that it wanted to “lower the barriers.” It would also add support for cryptocurrency for some of its more economical models.

The Samsung Galaxy S20 will be available from March 6 in the United States, Australia and the United Arab Emirates. From March 13, it will be available in the United Kingdom.

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