The New Samsung S10’s Crypto Wallet will not support Bitcoin!
Yes, it’s a very surprising news that Bitcoin, the father of all cryptocurrency, will not included in the crypto wallet of the new Samsung S10…
Are the Koreans such ungrateful with the cryptocurrency that is behind Blockchain technology that Samsung will certainly use in the future?
Samsung has revealed more details about cryptocurrency capabilities of the Samsung Galaxy S10, its new flagship phone.
The most striking detail? Its native wallet does not support Bitcoin, at least not out of the portal.
The Samsung phone’s crypto wallet, known as the Samsung Blockchain Wallet, will only support Ethereum and Ethereum based tokens (ERC20 tokens, etc…).
This follows the leak of images of a so-called crypto wallet in January and official confirmation in February that the Galaxy S10 would support the secure storage of crypto private keys via a feature called Samsung Knox.
Limiting the crypto wallet to Ethereum assets is technically a good idea, allowing unified integration of a large number of tokens with interchangeable server requirements.
This reduces the chances of a security breach or other bug in the wallet.
Whatever the technical reasoning, the Bitcoin exclusion of the application, already available on the Samsung App Store, is surprising.
Leaving Bitcoin out of the most visible crypto product of the mass market is a slight disadvantage for the original blockchain-based currency, and the so-called “maximalists” who believe (more or less) that Bitcoin will become someday the world’s leading currency.
Previous phones had built-in cryptographic key storage, but their markets were much smaller than what the S10 is likely to achieve.
To add more to this, Samsung’s wallet will include two rather unknown tokens:
a game token called Enjin Coin (ENJ) and a cosmetic token (yes) called Cosmee (COSM).
Enjin Coin is linked to Enjin, a popular web services platform for gamers, and is touted as a universal system of micropayments and digital collectibles.
This is a case of use that has been the subject of much discussion in the cryptography sector.
Samsung’s integration could make a seamless integration with mobile games using the currency.
Both tokens based on Ethereum have seen massive price increases in recent days, which is comparable to the impact that new registrations on crypto exchanges have had on dark tokens.
For better or for worse, it reminds us of the hype and generalized compulsive day-trading during the crypto-bubble of 2017.
This is, however, positive news for the crypto world.
In addition to supporting Cosmee and Enjin, the Samsung S10 Blockchain wallet will interface with well-established applications including the CoinDuck payment portal and the CryptoKitties collection/game system.
Making payments accessible to beginners has enormous potential for fostering the adoption of cryptocurrencies in the real world, while collectibles – as utterly devoid of utility as possible – have more than proven their ability to motivate people for blockchain (especially cryptokitties that had engulfed the Ethereum blockchain due to too much demand).
Samsung like Facebook is a very important player in the world because it reaches millions of people.
Integrating a crypto wallet on its latest smartphone will therefore bring new people to take a look at Bitcoin and other cryptocurrencies.
The fact that Bitcoin is not included in its crypto wallet is of course surprising, Samsung may add it later who knows but offering a crypto wallet on its mobile phones is already a big step towards the adoption of cryptocurrencies by the general public!
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