The electronics bull, Samsung has officially declared that the blockchain and cryptocurrency wallet for its Galaxy S10 phone is at this time compatible only with Ethereum (ETH) and Ethereum-derived ERC20 coins. Bitcoin (BTC) and other major cryptocurrencies are not yet supported, regardless of the BTC logo surfacing on previous pre-release presentation pictures.
– Samsung now priming their phones with Blockchain tutorials. The wallet integration on the Galaxy S10 has been confirmed… even after they denied it. Trying to keep Apple on their toes? pic.twitter.com/wAd7EaPzKw
— Heslin Kim @BlockchainROK (@BlockchainROK) February 21, 2019
According to coverage, the wallet supports 4 dapps at takeoff viz. cryptocurrency gaming platform – Enjin, merchant payment payments service – CoinDuck, beauty community – Cosmee and cryptocurrency collectibles platform – CryptoKitties. Customers can conduct payments to merchants via the supported CoinDuck decentralized application (dapp).
Samsung Offers Private Key Storage
A user can only download the app from S10 smartphones found on Samsung Galaxy Store. The company revealed that it is considering to extend the service to several devices and tokens sooner or later.
This event comes few weeks after the leading electronic conglomerate confirmed that it would provide private crypto private key storage on the S10 device, as
reported by Coinidol. Later on, the company uncovered the first particulars of the storage solution – Blockchain Keystore – that seems to possess three key features viz. payments to merchants, crypto storage & transfers, and digital signatures.
Through an official press release, Samsung
“Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”
Simplifying the Transactions Process
The wallet will be exploited alongside Blockchain Keystore and is created to abridge the transactions exercise for beginners to the nascent technology.
The South Korean-based company has given no suggestion as to why it selected to support only ETH out of the forest of coins, and it has also not made any promise or timeline for incorporating BTC or other digital currencies in the time yet to come.