Wednesday, March 20, 2019

Samsung Galaxy S10 Features Cryptocurrency Wallet and Decentralized Applications

News about Samsung Electronics’ launch of a smartphone that can store cryptocurrencies has been trending for some time now. The South Korean-based technology company has shed more light on the Galaxy S10’s Blockchain wallet. The latest is that it currently supports Ethereum, ERC20 tokens and four Decentralised apps (Dapps), according to Coindesk’s report on March 11.

Samsung Galaxy S10 Supports Ethereum and ERC20 Tokens

Per the report, Samsung has revealed that its S10 smartphone will support Ethereum and ERC20 tokens. That being the case, users of the phone will be unable to store Bitcoin, and it is still uncertain if the feature will be incorporated in the future. Likewise, other tokens that are not based on the ERC20 network standard are not supported at the moment.

The latest report goes contrary to the preview image of the S10 before its launch. At that time, a screenshot which was leaked showed a Bitcoin and Ethereum wallet. Nevertheless, it is worthy of knowing that users can store Ethereum, the second most popular virtual asset by market capitalization.

Cryptocurrency Wallet Can be Downloaded from Online Store

Samsung also outlined that users of the S10 will be able to download the wallet from its online store. Likewise, people using other variants of Samsung will be able to download the wallet in the new future. As was earlier reported, the wallet allows them to make payments to merchants, manage their assets, and safely store it given its digital signatures.

The decentralized applications, on the other hand, which had been added to the smartphone are four in number. These are Cosmee, a beauty social media application, and Enjin, a popular cryptocurrency gaming platform. Others include CryptoKitties, a cryptocurrency collectibles platform, and CoinDuck, a merchant payments service.

Paying for Goods and Services From Samsung Smartphone

In the case of CoinDuck, people can take advantage of the decentralized application to pay for goods and services using Ethereum. Here, the amount that is to be paid needs to be entered and the address of the merchant by scanning a QR code. Next, the accept button can be clicked to process the payment directly from Samsung’s wallet.

According to CoinDuck’s parent company, Chain Partners:

It was inconvenient to copy the address of the merchant’s wallet and paste it into the personal wallet. We have dramatically improved the usability of CoinDuck and Samsung Blockchain Wallet

Asides from Samsung, Sirin Lab’s Finney smartphone and Dash’s KRIP allow the storage of virtual assets. Opera also launched a mobile web browser for Android in December which supports cryptocurrencies. On March 6, the company revealed that they would soon be releasing an Opera Touch mobile browser for iOS devices. The latter will also allow the storage of virtual coins.

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