On July 15, the Stellar Development Foundation (SDF) revealed that it has been working with South Korean electronics giants, Samsung, to link its blockchain to the Samsung Blockchain Keystore. The addition of Stellar payments blockchain to Samsung gadgets aims to allow Stellar users to handle their private keys properly and securely.
The management and storage of private keys have been a major challenge for blockchain users. Indeed, the ability to manage private keys safely and comfortably is a vital barricade that the blockchain industry must resolve if it wants to achieve mass adoption. Although there is software that can store private keys on behalf of users, they have been faced with security vulnerabilities.
Samsung’s secure and easy to use key management capability
Notably, the safest technique is the use of hardware-grade isolation. A different computer processor that can only be accessed by sanctioned software is used to secure private keys from snoopy individuals. This is the same capacity of security that Samsung launched earlier this year. While launching the new S20 Galaxy model, Samsung stated:
“We created a secure processor dedicated to protecting your PIN, password, pattern, and Blockchain, Private Key. Combined with the Knox platform, security is infused into every part of your phone, from hardware to software. So private data stays private.”
Back in March 2019, Samsung added support for Ether while releasing its Galaxy S10 model. Later in the same year, smartphone giants also integrated support for Bitcoin, opening the way for more than 30 different cryptocurrencies. SDF ‘s move to integrate Stellar payments blockchain with Samsung is crucial, as the electronics company is a terrific global distributor. According to data by Statista, Samsung sold approximately 300 million gadgets in 2019 alone.
Stellar payments blockchain on Samsung smartphones
Capacity to provide smooth and secure key management; is not the only reason Stellar ‘s blockchain payments partnered with Samsung. Stellar ‘s ambition to further expand its global presence is a crucial factor in the new partnership. It provides a platform for Stellar-based companies to create innovative applications for Samsung users.
Furthermore, now that Samsung is supporting Stellar, its developers can now develop blockchain applications and solutions for Samsung Galaxy phones. However, not all of the Samsung gadgets support integration. Supported models include the Galaxy S20 Series, Galaxy Z Flip, Galaxy Note 10 Series, Galaxy Fold and Galaxy S10 Series.