Samsung will introduce cold crypto for Android. What will it be

Samsung Electronics may to coincide with the launch of branded wallet for cold storage of crypto-currencies to the release of the Galaxy S10. SamMobile reported citing materials of the European Agency for intellektualnoy of ownership. The forthcoming development of the South Korean manufacturer will be an independent product, providing a completely Autonomous existence of digital cash without the risk of being stolen by hackers or third-party apps with malicious functionality.

The intent of the manufacturer, the future product will consist of two parts: cold and hot. The first will be responsible for secure storage of cryptocurrency and private access keys, while the second will serve as a tool for public interaction with digital cash, providing all kinds of transfers and transactions outside. According to SamMobile, the future Samsung will receive the support of such crypto currencies as Bitcoin, Ethereum, their forks and all tokens ERC20.

To restore access to the crypto

As far as security accounts, they will be stored in the blockchain network with full observance of anonymity and access to them will not even have Samsung. Therefore, the only way to recover account access in case of emergencies is the use of the phrase of recovery, consisting of 12-24 words, the preservation of which users must provide themselves.

Daily authorization in the application at the same time, as noted by SamMobile, will be made only with the use of a PIN or fingerprinting. Other identification methods like face recognition or an iris scan of the eye is not provided. Obviously, Samsung believes that these methods of identification, provide the wallet and the digital cash sufficient reliability, while the other, although theoretically, but can be hacked.

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