RATE Group | Experts Refute Samsung’s Claims That Smartphones are Best to Store Cryptocurrency
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Experts Refute Samsung’s Claims That Smartphones are Best to Store Cryptocurrency

06 Aug Experts Refute Samsung’s Claims That Smartphones are Best to Store Cryptocurrency

Posted at 09:29h in Cryptocurrency News by

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In a blog post in July, a Samsung author claimed that smartphone-based cryptocurrency wallets have the “edge.” The Next Web has since asked security experts for their views, and they don’t entirely agree.

Samsung suggested that “smartphones have the best security for blockchain and cryptocurrency.” The author, Joel Snyder, puts this down to smartphone (and Samsung) Trusted Execution Environments (TEEs). Snyder explained:

The TEE is a separate execution environment with its own memory and persistent storage, completely isolated from the rest of the device.

Smartphones are Better Than Laptops

If a wallet runs the right “trustlets” to manage security keys “security is seriously tight,” says Snyder. Laptops don’t run TEEs so it’s argued that versus smartphones, smartphones edge out as a better choice.

The Next Web spoke to a handful of experts. This includes Bitcoin00 developer Jameson Lopp who agrees that TEEs give security benefits, but that attacks can happen…

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