In an effort to improve the security of its smart gadgets, Samsung announced the launch of a Private Blockchain system on 13 October. This system, known as Knox Matrix, is advertised as Samsung's redesign of its current security configurations. All Samsung home devices will have their login processes organized by the Knox Matrix solution as they are connected to the network. In the meantime, the security system will also protect the private data that is being shared through other smart devices.
According to the company's spokesperson, Knox Matrix will operate as a user's own private blockchain system, enhancing security through multi-layered mutual monitoring between your linked devices. Samsung Knox Matrix would be able to offer a uniform security SDK, regardless of whether your Samsung devices are based on Android, Tizen, or another OS.
The company claimed that this platform provides defense-grade security which can be used even by the top government agencies around the world. The technology was announced at the Samsung Developer Conference as an update to the business's current security policy. But at the moment the company only provided a little information about the system's internal dynamics.
All of the devices linked to the same network will share login information with the Knox Matrix, and this way it will also protect the devices from unauthorized access. Once the blockchain security system gets released, all Samsung devices will get uniform security systems.
One of the best features of this technology will be simplifying the login procedure in the house of the user. This is because any devices within the house that require the login status in order to connect to the network will receive it automatically. Not only that it will also prevent other network-connected devices from accessing sensitive data.
Through the company statement, Samsung shared its vision behind the Samsung Knox Matrix we hope that consumers won't have to sacrifice connectivity to stay safe. Through powerful, broad security procedures. The Knox Matrix is expected to reduce vulnerabilities in the devices in a user's ecosystem.
Samsung's interest in the crypto
Recently, Samsung has taken on a number of activities related to the Web3 space and the cryptocurrency industry.
With the release of Galaxy S10, the company has enabled support for the holding of Tron (TRX), TRC, ERC, and BTC tokens in its Blockchain Wallet. This was announced during the “Unloaded 2022” virtual occasion. The software company also makes Decentralized Apps (dApps) available to Galaxy customers, which employ blockchain technology to authenticate the exchange of digital assets.
The development of Samsung's 3nm foundry processing chip is in progress as well. Once this is launched it will make Bitcoin mining much easier for users. The event took place in the Samsung 837X space in the Decentraland metaverse.
In their latest lineup of smart televisions, the company also supports NFT. It was reported that Samsung integrated South Korea's National Bank Advanced Money into its flagship smartphone in August 2021. Because of some signs shown by the company in August, it is believed that Samsung is considering setting up a full-fledged cryptocurrency exchange in South Korea the next year.
While talking about smart televisions and smartphones Solana also announced Solana adventure, an Android phone that will allow billions of users to connect on Web3. The announcement was made around two or three months ago. The purpose of this phone will be to enable users to control and reliably use computerized resources like tokens and NFTs.
This year has turned out to be really scary for cryptocurrency investors but in the case of crypto adoptions, it was the best year yet. This year so many brands and platforms like Microsoft came forward to acknowledge the cryptocurrency use case and it will be interesting to see what the future holds for crypto now.
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