Take a fresh look at your lifestyle.

Samsung bets on the Stellar Blockchain


In recent years, Blockchain has gone from being a controversial technology, used only by a few, to becoming a tool widely used by companies, organizations and governments around the world. Which have understood the enormous advantages that blockchains provide them. A relationship that can be easily observed at Samsung, a company that bets on the Stellar Blockchain.

Blockchain in traditional companies

Blockchain technology has been around for decades. However, it was not until the birth of Bitcoin, eleven years ago, that blockchains began to become popular. Powered by the success of the cryptocurrency created by Satoshi Nakamoto, as well as mining. The latter, considered an incentive system created so that users share part of their computing power with the network.

Since then, the Blockchain has expanded worldwide. Being adopted by companies outside the crypto market in the most diverse sectors, which have accepted the gains in efficiency and security that blockchains can provide. Including industry giants like JP Morgan, Banco Santander and Samsung.

Thus, from agriculture to manufacturing, through finance and telecommunications. Blockchain has become an integral part of our modern economy. With companies like Ripple and projects like Stellar, serving as a hinge between traditional companies and the crypto world.

The alliance with Stellar

In this way, the Stellar Development Foundation (SDF), an organization dedicated to developing the capabilities of the Stellar Blockchain. It has reached an agreement with the cell phone giant, Samsung, to achieve the integration of Stellar within the Samsung Blockchain Keystore.

Thanks to this, users will be able to store their private Stellar keys within the Samsung application. Increasing the security of the same, against the vulnerabilities that have recently been shown by phone wallet apps. Which would expose the funds and information of the users, if he lends his electronic device to a third party.

Having a really simple way for users to save their keys and use them on the chain is very important, and that’s why we’re excited about this announcement.” SDF CEO Denelle Dixon commented on this alliance with Samsung.

While for its part, Samsung assured that it had created a processor dedicated to protect the keys of its Stellar users, to guarantee their security.

This would not be Samsung’s first approach to Blockchain technology. Well, back in 2019 he had included support for Ethereum on his phones, later expanding it to more than 30 cryptocurrencies and stablecoins, including Bitcoin.

In this way, showing this commitment on the part of Samsung, with the experimentation and deepening of the use of the Blockchain. What makes this our Today’s Data here at CryptoTrend.

Leave A Reply

Your email address will not be published.