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Samsung Galaxy S10 with Cryptocurrency Cold Storage.

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Samsung, the electronics industry giant is planning to integrate cryptocurrency cold wallets in its upcoming mobile phone Galaxy S10.

Samsung, the electronics industry giant is planning to integrate cryptocurrency cold wallets in its upcoming mobile phone Galaxy S10 according to Adnan Farooqi, editor of SamMobile which is the largest community for Samsung.

According to Adnan Farooqi, their community tried to research deeply into the company’s plans after they heard about Samsung’s trademarks for blockchain and cryptocurrency software and after a thorough research they are now concluding that Samsung is developing a software which may be launched in the upcoming model of Samsung Galaxy S10.

Since the start of the year, Samsung, the biggest aggregate in South Korea that has predominance over a considerable lot of the nation’s significant segments has shown its enthusiasm towards the cryptocurrencies.

Samsung entered the cryptocurrency segment with an endeavor concentrated on Bitcoin mining, making mining hardware from its foundry situated in Suwon, South Korea for shipping to worldwide merchants.

 

Samsung and Crypto Industry

From the start of the year, Samsung has been expanding its mining operations, and the cryptocurrency wallet sector of the crypto industry is by all accounts the Samsung’s next target.

Samsung likes to use its current assets to venture into new developing markets instead of making a completely new framework to help it. Samsung has set up a mining equipment manufacturing business as a way to expand the capability of its vast scale foundry and the company’s cryptocurrency wallet that is at present being developed to be incorporated with its mainstream Galaxy S series of mobile phones.

As per SamMobile, if the wallet gets coordinated into the Samsung Galaxy S10, company’s clients will have the capacity to import their data from existing wallets such as MetaMask to their mobile phones.

 

If large industry giants such as Samsung start to integrate cold wallet storage in their mobile devices that are already mainstream, then companies such as Trezor and Ledger that focus only on this segment shall be counted as unnecessary.

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4 Comments

4 Comments

  1. Joe Mollis

    December 13, 2018 at 8:16 am

    Ummm…the point of cold storage is to keep it out of reach of hackers, not connected to the internet. Cold storage connected to a network enabled device like a phone is the opposite of that.

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#Wallet

Japan launches J Coin Pay: Not a cryptocurrency though

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It's important to note that the upcoming J Coin Pay is not a cryptocurrency and the wallet does not involve the use of blockchain technology.

J Coin Pay has taken Japan closer to the aim of creating a cash-less ecosystem. J Coin Pay is a digital wallet application that lets the users scan a QR code and payment payments to anyone across the country. However, in spite of the crypto related name, the J Coin Pay has nothing to do with cryptocurrency.

 

Japan’s J Coin Pay:

The J Coin Pay digital wallet has been developed by the famous Mizuho Bank of Japan and shall be available for the citizens of Japan from the 1st of March this year. The wallet application has already partnered with sixty banks across the nation and shall be used to send, receive or pay to anyone in Japan. This would be a step forward in making Japan a cash-less country.

The J Coin Pay will allow the user to add funds to the wallet through their bank accounts to further pay or send it to anyone they wish to. The transfer would take just seconds by adding the receiver’s phone number or scanning the QR code.

 

No Cryptocurrency or Blockchain involved:

It’s important to note that J Coin is not a cryptocurrency and the wallet does not involve the use of blockchain technology. It will be a normal digital wallet application for mobile phones just as the AliPay & WeChat in China and Paytm in India.

The updated cryptocurrency regulation in Japan has inspired financial institutions to adopt a more standard outlook rather than going out for blockchain technology. The Mizuho bank has entered the digital wallet industry at the best time before any international competitor could. Currently, Japan has the highest Cash to GDP ratio (around 20%) in the world amongst the major economies.

 

Will the J Coin Pay really make Japan a cash-less society? Would it be better if it was blockchain based? What are your thoughts on the same? Tell us in the comments section below.

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#Wallet

Alert: Free Trezor One Giveaway by Coinnounce

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In association with Trezor, Coinnounce is distributing seven free Trezor One (Hardware wallets) for free. Here are the steps to participate.

In association with Trezor, Coinnounce is distributing seven free Trezor One (Hardware wallets) for free. Trezor is known to be the best hardware wallet provider and has recently launched its latest models: the ‘Trezor One’ and ‘Model T’.

How to participate?

To participate in the giveaway all you need to do is:

Step 1:

Choose the best blockchain or cryptocurrency domain name from the list mentioned on Blockchain Domain Names

Step 2:

Think the best one-line phrase to describe the domain name.

Step 3:

Tweet about the best domain name by filling the following details:
– Domain Name
– Picture of the domain (download it from the Blockchain Domain Names page)
– A one-line phrase describing the domain name
– use the hashtags #Coinnounce and #Trezor

 

Example:

 

Hurry! The competition ends on 17th March 2019 (Sunday).

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#Etherdelta

Can Metamask Be Hacked?

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Metamask is probably the most convenient and popular way to interact with dapps on the Ethereum network. But can Metamask be hacked?

‘Metamask is probably the most convenient and popular way to interact with dapps on the Ethereum network.’

MetaMask can be used for all ERC-20 tokens and ETH.
For many dapps, as long as you are logged in to your MetaMask account, you can access the dapps automatically through your browser.
If you are logged in to your MetaMask account, an attacker can view your portfolio address, balances, chips and transaction history – information that can be used to generate phishing attacks.

With the help of blockchain searchers such as Etherscan or ETHplorer, you can use your wallet address to find out the details of the transactions you are making.

Importantly, MetaMask works on patches to solve such shortcomings to ensure that users can use them with popular Ethereum client without any security problems.

On September 24, 2017, a malicious code injection allowed a hacker to steal private keys from multiple victim’s wallets and then manually empty their wallets.

When you use EtherDelta, you “trust” the private key of your wallet ( which can give everyone the opportunity to withdraw money from your wallet ) to your browser session, and you “trust” your money in the smart deal EtherDelta.

‘Someone could inject a code into the real EtherDelta that “sniffs” the private keys of a browser session, giving them unlimited access to your wallet.’

Moving your private key from MetaMask to MyEtherWallet allows you to view your ether portfolio ( including tokens ), which then allows you to move your tokens elsewhere, such as an exchange where you can exchange them.

 

Metamask is your “Hot Wallet”

Metamask is another hot wallet where the computer you access is connected to the internet.
If in case a hacker has connected to your computer some way, you should log into your metamask portfolio by entering your password as long as you have set your password.
Hot wallets are used when connected via the internet, which means that it is remotely accessible by hackers and keys can be stolen.

Paul Bouchon, a MetaMask developer, admits: “there is a huge mistake, because each page on which a user browses, has access to all his transaction history and much other relevant information.
While MetaMask has solved a privacy problem, announcing a new mobile wallet could open up another.
Since MetaMask users do not operate their node, Infura must interact with the Ethereum blockchain.

Metamask is stored in the user’s browser, not on remote servers.
Your browser will not have access to your private codes, but it can collect information about when and how you use the application.
When using MetaMask, use only one tab at a time to trade and block the portfolio when you do not use it.
For beginners, it’s a great introduction to the blockchain because you’ll use a browser that you’ll feel comfortable with.
A dApp that is often used with MetaMask is MyEtherWallet, another one is Blockonix.

Although MyEtherWallet is a portfolio that functions as MetaMask, it also serves as a complete node.
The metamask was created as a single light bag that allowed users to interact with the Ethereum blockchain without being a complete node.
Although MetaMask does not have access to your information, the browser you use will do so.

If you decide to use MyEtherWallet or other dApps like Blockonix, we recommend that you should use it with a hardware wallet rather than a web wallet like Metamask.

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