Samsung Electronics is releasing another serial of its most popular flagship device. The Samsung Galaxy S10 is set to be released in 2019. Prior to the release, the South Korean company teased of a new feature exclusively added in the device. At first, in San Francisco, the company only released the name of the feature. It’s Samsung Blockchain Keystore.
What is Samsung Blockchain Keystore?
The name has intrigued much interest since its’ first reveal. People have been speculating, due to the minimum explanation by the company. Samsung only explained it as ‘a storage to keep personal key save’.
Then on February 25, at Samsung Mobile Business Summit session in MWC 2019 Barcelona, they teased more with four logos that are associated to a crypto wallet. They were Bitcoin, Ethereum, Enjin and COSMEE. The Blockchain Keystore seems to serve as a crypto wallet for prospective S10 users.
What is a crypto wallet? How does it work?
Think of the wallet you have. It’s where you store cash. Crypto wallet is the same. But instead of cash, you’ll find crypto tokens on your wallet. The crypto tokens are saved in an account with two crypto keys. The public key is the one you can think of an account number on banks. While the other one, the personal key, is just like a pin number to your account.
What is a crypto token?
Bitcoin is one example of crypto tokens. It’s simply money that can only be used on the internet. However, it has recently revealed that Bitcoin would not be featured in Samsung Blockchain Keystore. The company only confirmed Enjin and Cosmee as its partners. Both tokens are based on the Ethereum tokens.
Enjin is a web service platform for the game. It has the Enjin coin (ENJ), a crypto coin focused on the game. ENJ is pitched as universal micropayments and digital collectible system for gaming. While Cosmee is a beauty product review platform. The Cosmee coin (COSM) will serve as rewards for the reviews.
Both will serve as S10 Blockchain Keystore dApps, although they both are still widely unknown. To balance it in addition to Enjin and Cosmee, Samsung will also interface with established applications. It includes Coinduck payment portal and CryptoKitties collectible system.
However, with so many details yet to be announced, experts find it hard to predict the future of this feature. We can only wait and see when it’s actually released.