Samsung’s Galaxy S10, the company’s newest flagship smartphone, will be supporting decentralized applications. This adds to its capabilities of storing private cryptocurrency keys.
Samsung Galaxy S10 – More Capabilities
At the Samsung Mobile Business Summit in Barcelona, the tech giant confirmed that its newest phone will support Bitcoin and Ethereum, as well as two lesser-known cryptocurrencies called Enjin (ENJ) and Cosmo Coin (COSM).
After the Summit in Barcelona, however, it also became clear that the phone will have support for decentralized applications (DApps). At press time, the phone only supports one DApp – it’s called Cosmee.
This is a project, particularly popular in Korea. Created by Cosmochain, the project stores user-provided information on a blockchain and it rewards customers for leaving different, beauty-related reviews. The need for a blockchain in the project, however, is not particularly clear, even more so by the fact that its whitepaper doesn’t even contain any information about consensus algorithms, nodes, or even which blockchain will it use.
Why ENJ and COSM?
The news of Samsung’s partnership with both ENJ and COSM has caused a massive surge in the price of these cryptocurrencies. The former was up by more than 120 percent, while the latter with about 50 percent shortly after the news broke out.
Enjin Coin is a cryptocurrency which is issued by Enjin – a company from Singapore which is creating an entire ecosystem for e-gaming. The digital token is used to purchase assets in games and to assign ownership. Samsung’s involvement with the company could be a tell that the tech giant is looking to increase its exposure to this otherwise particularly broad market.
Cosmee, on the other hand, is a project which is touted as one of the most popular in Korea. Looking at its whitepaper, however, doesn’t exactly deliver the level of confidence one would look for in a Samsung-backed application.
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