RATE Group | Samsung is Building Cryptocurrency Wallets for Bitcoin and Ethereum Based ERC 20 Tokens
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Samsung is Building Cryptocurrency Wallets for Bitcoin and Ethereum Based ERC 20 Tokens

11 Dec Samsung is Building Cryptocurrency Wallets for Bitcoin and Ethereum Based ERC 20 Tokens

Posted at 21:35h in Ethereum News by

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Samsung is developing a Cryptocurrency wallet to support Bitcoin, Ethereum and Ethereum based ERC 20 Tokens.

The Korean based smartphone giant is reportedly developing Cryptocurrency wallets for its latest Galaxy 10 series launch which is likely to launch in early 2019.

Samsung is separating the wallet into two components:

  1. Cold wallet for storing the public and private keys, signing the transactions with the private key.
  2.  Transaction wallet for viewing account information, transfers and transaction history.

The cold wallet will most likely be similar to the standard cold wallets in the Crypto industry. It will be used to securely store Cryptocurrencies with a standard 12-24 word recovery phrase used to restore in case the phone is lost. Sammobile reports that the user data such as the account information will be stored on the Blockchain network with “complete anonymity”.

Hence Samsung will not have any access to the data and the user will be in full control of his…

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