Samsung: «smartphones are the safest device to use cryptocurrency»

According to representatives of Samsung, currently smartphones are the most secure devices for cryptocurrency transactions.

Wallets for smartphones like Blockchain and Jaxx are a convenient app that most cryptocurrency users use to send and receive payments with the digital asset.

As explained senior it consultant at Samsung Joel Snyder (Joel Snyder), smartphones are in this respect much more safe than laptops or other devices, as most smartphones are equipped with a safe execution environment Trusted Execution Environment (TEE).

Safe environment TEE acts as a separate runtime memory and storage, isolated from the main device. Thus, on Wednesday, the TEE can not even penetrate the operating system like Android.

In the case of a hacker attack or system failure security, the attacker will not be able to get into the TEE and steal data (e.g. private keys of cryptocurrency wallets), because the TEE there is an Autonomous device.

In the case of laptops or computers that relies on the model of the device permanent storage like a hard drive or SSD, an attacker can easily get into the vault and steal valuable financial information.

Schneider explained:

«That’s why smartphones have an advantage over laptops and desktop computers in relation to cryptocurrency wallets: in the absence of TEE keys are more vulnerable. However, there is one thing: the developer of a new purse can make the decision to keep the keys in a conventional internal memory of the phone. In this case, the additional protection from the use of the smartphone is lost. The wallet can get the virus and the situation gets out of control. However, in the case of the wallets that use THEA smartphone, the best place to store money not to find.»

The increase in the number based on TEE technology

In December 2016, a team of scientists at Cornell University under Professor Emin gun sirer of (Emin Gun Sirer) first tested the idea of scaling Bitcoin by using secure equipment, use TEE.

The team not only used a medium TEE in smartphones, it has gone further and created a technology called Teechan as add-on media TEE in CPU and Software Guard Extensions Intel processors.

Wednesday TEE exists independently from the devices in which it operates and can handle unblockable transactions into a single, larger for calculations in the network. Therefore, the resolution scaling based on a trusted environment, demonstrate significant progress, processing more than 2 480 transactions per second.

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