Samsung Confirms Crypto Support In Galaxy S10
Photo Credit: https://www.samsung.com/us/mobile/galaxy-s10/
News reports are trickling in to confirm information that indeed the new flagship device of Samsung Galaxy S10 has crypto key storage feature included out of the box.
It has been rumored in the past that Samsung might be working on a crypto wallet when information leaked out that Samsung registered trademarks for Blockchain KeyStore.
A month later images of Galaxy S10 showing a pre-release version of KeyStore circulated the net titillating the minds of cryptocurrency enthusiast all over the world.
Now that these rumors could be put to rest as the company confirms that the Galaxy S10 has a secure storage backed by hardware which houses private keys for blockchain-enables mobile services.
Although the company did not come out directly to say that it will have cryptocurrency support, it is highly likely that the company will support Bitcoin, Ethereum, ERC20 tokens, Bitcoin Cash and NFT tokens.
One leading industry analyst, Joseph Young, states that Samsung’s wallet could be just as important as an ETF and Bakkt combined.
He explains that average Joes and Janes are not aware of Bakkt or crypto-related investment vehicles and would understand these new asset types if they find them in one of the applications of their mobile devices.
Pros and Cons in Blockchain Logins according To Facebook’s Founder
In a video interview with Harvard law professor Jonathan Zittrain, the founder of Facebook seems to be seriously evaluating blockchain’s potential to allow internet users to log in to various services via one set of credentials without relying on third parties.
However he reveals that he has not yet figured out to make this work.
He argues that if you have a fully distributed system, it dramatically empowers individuals on one hand but on the other hand it lessens the ability of companies like Facebook in dealing with bad actors.
A good example of this is when users of Facebook chose to give their data to a third party entity and this third party violated the use of Facebook’s users data, the company could easily cut off access of the ailing third party.
In addition to the ambivalence of the question of a fully distributed login, the Facebook executive underscores the technical challenges by decentralization.
He reveals that the current computation that is needed to operate Facebook is already intense and doing it in a distributed manner will be a whole lot harder.
Wyoming Legislators Passed Three Crypto-Related Bills
The U.S. state of Wyoming is shaping up to be one of the most progressive U.S. state in the country in terms of blockchain and crypto adaption, with the passage of three bills that aimed to provide positive crypto regulatory clarity in the said state, it might as well be.
The first bill passed recognizes digital assets as property and clears the way for banks to act as crypto custodians. The second bills enables securities to be issued in tokenized form, this means that stock certificate that is usually issued on a piece of paper can now be issued through a blockchain token that represent a stock certificate. The last bill creates special purpose depository institutions to serve businesses which may not be able to access traditional banking services.
All the bills are still awaiting the signature of the State governor. Once the bills are approved and signed by Governor Mark Gordon it will officially become law effective July 1. Once this happens Wyoming would have become Standard for cryptocurrency legislations.
Coinbase Wallet App Now Supports Bitcoin Cash
It has been recently reported that San Francisco-based digital currency platform Coinbase enabled support for bitcoin cash on its noncustodial wallet app.
According to Coinbase’s Wallet App Product Lead Coelho-Prabhu, the new wallet update will roll out to all users on iOS and Android over the next few weeks.
He also reveals that the upgrade will support Bitcoin Cash by default.
Bitcoin cash will support Cashaddr address format as well as legacy addresses.
It also enabled Bitcoin Cash testnet for developers and power users.
They plan to support JSON Payment Protocol in the future.
The security features of the Coinbase Wallet App is more advance than its custodial web wallet counterpart.
According to the company the private keys are encrypted and stored on mobile devices using Trusted Execution Environment (TEE) or Secure Enclave Technology.
Binance’s Decentralized Exchange Now Open For Public Testnet
One of the largest cryptocurrency exchange in the world by transaction volume, Binance has recently released a testnet version of its website.
Binance DEX is reported to be powered by Binance Chain, a new blockchain and peer-to-peer distributed system.
According to Binance’s CEO Changpeng Zhao, the new decentralized exchange has decentralized network of nodes, where you hold your own private keys and manage your own wallets.
The new DEX will provide a new balance of security, freedom and ease-of-use.
Users of the Dex will take more responsibility are more in control of their digital assets.
Binance DEX will support secured decentralized software and hardware wallets.
Binance’s Trust wallet will be integrated into the DEX.
Ledger Nano S and other Hardware wallets will supported soon after.
It was earlier revealed that Binance Coin (BNB) which is currently ERC20 token will be moved to the Binance Chain in order for it to become a native asset.
The new blockchain, Binance Chain is able to achieve one-second block times and which is of order of magnitude faster than both Bitcoin and Ethereum network.
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