South Korean giant Samsung connects its smartphones’ cryptocurrency wallet to Ledger storage devices.
Kyiv. Ukraine. Ukraine Gate – May 14, 2021 – Technology
The Samsung Blockchain Wallet that ships with Galaxy smartphones will support the Ledger Nano hardware storage devices designed to store cryptocurrency.
Since the launch of the Galaxy S10 smartphone in 2019, the Samsung Blockchain wallet has supported Bitcoin, Ether, and ERC-20 tokens. The software development kit allows third parties to create applications that enable crypto-payment functions for goods and services by scanning a merchant’s QR code.
“By introducing support for hardware wallets, we provide our customers with not only increased convenience but also a completely new level of security,” – quoted the words of the vice president of Samsung and the head of the blockchain division of the company Woon Ah Yun of Coindesk. “We’ll start by providing support for Ledger products, including the Nano S and Nano X. We then plan to expand support
to even more cold storage wallets.”
According to Yoon, the monthly active users of the Galaxy blockchain ecosystem have doubled in the past seven months, and the smartphone wallet is now used to store hundreds of millions of dollars of assets.
A permanently connected Samsung mobile crypto wallet, by definition, cannot have the same level of security as a Ledger cold storage device. The collaboration between Samsung and Ledger will provide even greater security and will allow the Samsung app to be used to check the prices and amount of crypto assets stored in the hardware wallet.
According to the vice president of Samsung, this will be the first mobile blockchain application of this level.
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Source: Ukrgate