Samsung Adds Support for Stellar to Blockchain Galaxy Store

Source: Finance Magnates 2020-07-16

The Stellar Development Foundation – creator of the XLM cryptocurrency – today said its payment system will be integrated into the software development kit (SDK) of the Samsung Blockchain Keystore, which helps users manage private keys. This integration also provides Stellar end users with secure private key authentication.

All users of the South Korean multinational conglomerate’s Keystore, a critical part of Samsung’s blockchain initiative, will be able to access Stellar’s blockchain services. The SDK also allows coders build apps running on the Stellar ecosystem by giving them direct access to the blockchain via Samsung Galaxy devices.

With Stellar being integrated into the Keystore, the crypto enthusiasts believe the move opens the door for similar networks, particularly as Samsung has been active in the space since it first released its blockchain wallet in March 2019.

Stellar is an open-source payment technology that shares several similarities with Ripple. Both coins shared the same protocol initially and were also co-founded by the same person, Jed McCaleb. Much like Ripple, Stellar also aims to connect financial institutions and reduce the cost and time required for cross-border transfers.

At the time of announcement, at least four Stellar-based businesses have committed to adopting the requisite SDKs to make their applications available in the Keystore, including DSTOQ, SatoshiPay, Litemint, and Nodle.

XLM

Samsung Keystore

Samsung Adds Support for Stellar to Blockchain Galaxy Store

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