Samsung announced on Thursday (13) that blockchain users can now manage third-party wallet assets on Galaxy smartphones. An update to the Samsung Blockchain Wallet feature, which today only stores cryptocurrency private keys, will now also offer support for hardware wallets.
This update makes life easier for blockchain users, who now access and process transactions, simply by importing virtual assets stored in cold (offline) wallets directly into the Samsung Blockchain wallet, already present on most Galaxy devices.
Samsung’s new Blockchain Wallet allows connection to any hardware wallet, including the super-secure Ledger Nano S and Ledger Nano X, which allow the management, in the same wallet, of various assets such as Bitcoin, Ethereum, ADA-Cardano and XRP.
What can the new Samsung Blockchain Wallet do?
To guide transactions, Samsung’s new app will showcase the latest cryptocurrency trends in a dedicated news feed, which will feature articles from CoinDesk, one of the world’s leading publications on digital currencies.
Although, at first, it may seem that the Samsung implementation is just one of several cryptocurrency wallets that you can download from the Play Store, the great thing about the South Korean is that its offerings come with the added protection of Samsung Knox and Trusted Execution Environment (TEE), an isolated environment and protected from cyber attacks.
In addition to continuing to offer Samsung Private Share, a file sharing application that is safe and private, the new Samsung wallet allows the exploitation, via Galaxy devices, of decentralized applications (DApp) that use the peer-to-peer network ( p2p) of the blockchain.
All DApps, as well as the private keys used for cryptocurrencies, will continue to be stored in the Samsung Blockchain Keystore, an area totally isolated from the main operating system. The only types of access to this information are the asset owner’s PIN or fingerprint.