Samsung has finally made its move. For some time now, many have wondered when support for the bitcoin would be made available on Samsung and it works as that prayer has finally been answered. This is as Samsung announces that there is now support for the bitcoin through its BlockChain facilities or key store. The move is sure to increase the number of persons who are already pushing for the full integration of these cryptocurrencies into the Samsung world. However, it seems that Samsung has decided to take things slow. For now.
It is worth reminding ourselves that the BlockChain store which is currently run by the producers of Samsung is the mode through which a lot of applications which are decentralized in nature are being operated on Samsung. This store is also used to keep keys meant for cryptocurrencies safe at all times. While this is good news, it is not all Samsung devices which would have the opportunity to support this feature. Samsung has clarified that it would only be available to its flagship phones. This would include the S10 series as well as the Note 10 which was released in their last event night.
The countries where these features would be available are also limited. It is set to feature in European countries such as Spain, Switzerland, the United Kingdom and Germany. It would also be used in Korea as well as the two big North American countries- Canada and the United States.
The key store which is run by the help of the BlockChain technology was first released to members of the public this year. Once this was released, the odds that the bitcoin would follow too many was greatly reduced and the odds are now gone as the bitcoin support has finally arrived. Before now, you could only use this store with Ether coins as well as some other tokens which are ERC20 in nature. This led many to conclude that Samsung was open to the prospect of Ethereum more than the other cryptocurrencies. This was further compounded by the news that Samsung’s own BlockChain network was on its way and it was set to be founded on the strength of the Ethereum mainnet.
Despite the increasing partnership with Ethereum, it is worth noting that Bitcoin remains the biggest cryptocurrency in the world. It is said to control more than 65% of the cryptocurrency market while Ethereum which is seen to be the closest competitor to the bitcoin is said to own only 8%. This shows that while Samsung would be looking for ways to delve into the cryptocurrency market and Ethereum would make a lot of sense on the business level, the bitcoin is the sure bet when it comes to the client base.
photo source: © shutterstock.com by JPstock photo source: © shutterstock.com by ThomasDeco
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