Invented in 2008 to keep track of cryptocurrency transactions, blockchains are a method used to store records with code. It is made up of a series of “blocks,” with each one containing coded information from the previous block, data related to a transaction, and a timestamp. It is a peer-to-peer network, and if one block is altered, all of the others in the chain must be, too. And since that would require the majority approval from the network users, blockchains are considered to be protected from any manipulation or hacking.
Based on the images, the Samsung Galaxy S10 will allow users to import a secure cryptocurrency wallet from another source, or create a new one. And it also appears that users will be able to call on the device to access and store data using a blockchain. One of the photos shows that Ethereum is the only cryptocurrency supported by the phone, but that could change by the time the Galaxy S10 is unwrapped on February 20th.
It is a smart move on Sammy’s part since many expect blockchain creation to rise sharply in the next few years.We wouldn’t be surprised to see more phone manufacturers add similar features to their handsets over the next year or two.