Samsung Unveils Crypto Wallet And Dapps For Its Galaxy S10
Electronics giant Samsung has unveiled a cryptocurrency wallet designed to work with its recently launched Galaxy S10, a crypto-supported smartphone.
Reports indicate that the South Korean firm has released the Samsung Blockchain Wallet for its flagship phone, with the wallet currently only compatible with Ethereum (ETH) and ERC20 tokens.
The wallet does not have support for top cryptocurrency Bitcoin, even though the BTC logo appeared on the phone’s pre-release images.
As well as ether (ETH) and the ERC20 tokens, the Galaxy S10’s wallet does also support decentralized applications (dApps). As per launch reports, the wallet will initially support four dApps, with users able to access popular CryptoKitties, an Ethereum-based crypto collectibles platform.
The other three are Enjin (a crypto platform for gamers), Cosmee (a dApp for the beauty community), and CoinDuck (a merchant payments service).
The Samsung Blockchain Wallet is available at the Samsung Galaxy store. The company has said that at the moment, users will only be able to download the wallet app using their Galaxy S10 smartphones.
The conglomerate, which has in recent times made big inroads in the blockchain and crypto industries, has also revealed that it will expand the wallet service. It will see the app available for download on more devices as well as be able to support other cryptocurrencies.
The S10 reportedly began shipping on March 8 following massive interest according to collated pre-order sales information.
Just weeks ago, Samsung announced that its range of Galaxy S10 phones offers users storage for their cryptocurrency private keys. The firm followed that up with another release that confirmed several details regarding its “Blockchain Keystore,” a crypto storage solution developed for the phone.
The “Blockchain Keystore” would reportedly offer users access to a number of features, including a merchant payment option, crypto transfer and storage, and digital signatures.
Samsung has also said that the Blockchain Wallet and the Blockchain Keystore features will be used together and that the former is intended to make the transactions process simple for those new to crypto and blockchain technology.
CoinDuck, one of the dApps currently supported by the wallet allows payments made to merchants. Users will be able to make these payments when they log in to the dApp and simply scan a QR code for the payment to be made via the Samsung Wallet.
According to Chain Partners, the company behind CoinDuck, the new wallet has greatly simplified and improved the dApp’s usability by making it easy to sent funds to merchant wallets.
Initially, users had to “copy” and “paste” the merchant’s wallet address into the user’s personal wallet before completing the transaction, which was an inconvenience of sorts.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.