The biggest crypto news this week is the collaboration between Tron (TRX) and Samsung. The addition of Tron to the Samsung phone is great news for several reasons and very beneficial for the future of this blockchain. Below, we will discuss how Samsung has succeeded in integrating cryptocurrency on their devices in a very secure way and why especially Tron will benefit enormously from this.
Samsung Blockchain Keystore
Samsung is a pioneer in cryptocurrency adoption and developed the first phone and tablet with a secure blockchain keystore. The blockchain keystore makes it easy for consumers to manage digital private keys in a secure vault on their phone. The storage is a separate hardware wallet in the phone and is further isolated by specially developed Trusted Execution Environment (TEE) software. This simply means that only the owner of the phone can use the private keys to sign transactions or use DApps. The keys, however, can never be seen directly by the Android operating system or Android apps on your phone. Just like other hardware wallets, the keystore is protected with a PIN code and with Samsung also with an optional fingerprint authentication.
Tron and the next generation internet
Tron is building a decentralized internet and a gaming and social media platform based on blockchain technology. According to an already familiar formula, CEO Justin Sun had previously announced that there would be a major announcement. It would be a collaboration with a one hundred billion dollar mega company and would be excellent for Tron (TRX) and all TRC10 and TRC20 tokens such as BitTorrent (BTT). In his message to his two million Twitter followers, he also wrote that this would make the development of user-friendly DApps and other Web 3.0 solutions much easier.
Web 1.0 – 4.0
A bit of history is appropriate here. We call Web 1.0 the first generation internet that makes colorful web pages possible thanks to the standard markup language HTML and a standard communication protocol HTTP. It was a milestone that all internet providers support the same language HTTP and that all internet browsers can display HTML on screen.
Web 2.0 was created in 2004 and consists of internet-based services such as all social media, wikipedia and other online collaborations. This development has grown enormously due to the mobile internet and cameras on mobile phones.
Web 3.0 is the development towards an intelligent internet. Think of machine learning and artificial intelligence so that computers not only store and display what is on the internet but also actually understand it. More and more you can just talk to Google, Siri, Alexa or other search services. They understand you better because they have come to know you and can also place your question in a certain context. “Hey, Google, let’s have some nice music shall we?” is well understood and music that you like starts right away. This creates a more intuitive user experience and grows above a simple “search engine”. The service is always online and also reminds you of appointments, for example. The information about weather or traffic is looked up if the service understands that you have to travel for your appointment.
It is expected that this will be perfected into a completely virtual personal assistant in Web 4.0. Web 3.0 is mainly about collaborating computers and sharing information worldwide. This fits perfectly with blockchain technology.
Cryptocurrency and blockchain technology also make decentralized applications possible. An app on your phone normally communicates with a central server at a commercial company and they store your data there. A decentralized application or DApp runs through the blockchain on thousands of computers and your data is only present on the network in encrypted form.
DApps are therefore superior in security and availability. Data can only be changed by you and does not end up on the streets during a data breach. Besides being safe for your data, Dapps are also transparent in their operation and results. The deposit, payout and fair operation of for example a casino Dapp can be followed by anyone via the blockchain.
The various DApps still lack an easy interface and this has everything to do with the bridge that has to be made for payment via the blockchain. The ease of use will be greatly improved by the integration of cryptographic currency wallets on the phone. Samsung Keystore SDK (toolkit for app developers) makes it possible to talk to the Samsung Blockchain Keystore directly from the DApp. The user does not even need to know that a wallet is created in the blockchain and cryptocurrency transactions are signed. They only have to agree with their PIN from time to time and all the difficult technology disappears into the background.
Fruitful collaboration for Tron
“This is a remarkable milestone for Tron, and I am happy to have the opportunity to work with Samsung,” says Sun. “We are fully in line with Samsung’s vision and strategy for the exploration of blockchain technology and will support it. The partnership will ensure a broad distribution of what Tron has to offer to billions of customers. The fact that there is still room for substantial growth can be seen from the fact that there are now approximately 3.9 million Tron wallets and only 611 DApps left. Nevertheless, Tron has entered the Top 10 in cryptocurrency market share on this news. This also puts the currency in the picture of the larger investors. Tron benefits in full from this.