Samsung Develops Block Chain Network for Future Token Launch

Image by David Mark from Pixabay

The Korean electronics giant, Samsung, is in the process of developing their Block Chain network. Despite progress, the project is still widely considered an internal experiment. Once completed, this could lead to the development of a Samsung coin on the Block chain network.

Samsung’s Initial Foray Into Blockchain

The development of a network will be a first for the Electronics giant but it is not its first attempt at block chain industry. In March of 2018, they released their Samsung S10 mobile phone which is able to serve as a crypto wallet for Ethereum and ERC20 compatible coins in the Ethereum block chain Network. In addition, the S10 mobile phone supports dapps like CryptoKitties, a crypto collectible platform; Coin Duck, a merchant payment service; Cosmee, a beauty community; and Enjin, a crypto gaming platform.

Experimental Block Chain Network

The block chain network in development is going to be based on Ethereum framework and is being developed by the Korean company’s Block chain task force which is part of the Wireless division.
The development of this Main net block chain network is still in the early experimentation stage with no definite direction yet. Though early plans are to make it a private block chain nothing is certain. In the future, they could switch directions and choose to do a mixture of both private and public block chains.
According to a source, “though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid”

Samsung Coin A Possibility

With the development of Samsung’s own block chain network, may speculate that a Samsung coin would not be far behind. The source explained, “The market expects Samsung Coin to come out, but the direction has not yet been decided”
In the future, the Samsung Coin could be a publicly traded platform like the BTC and the ETH. It could also use it on their payment app, Samsung Pay.

Crypto currencies | Profits.plus
Crypto market Fall Under Pressure as Market Cap Fall Below $170 Billion
Ethereum ETH | Profits.plus
Both The Bitcoin and The Altcoin Continue Losses, Could Be Correcting or Reversing

Related Posts

Cryptocurrency ETF

ETF funds have been mentioned more than once on the cryptocurrency market. In fact, these…
Menu