The blockchain application has been around from quite a long time but its introduction on a smartphone is a new concept. The smartphones are specifically developed with functionalities allowing the process of blockchain transactions. It is a great start for those who are already actively using cryptocurrency or planning to do so.
Since the cryptocurrency market doesn’t fail with the country’s economic system, such technology is much more secure compared to other monetary transaction. Blockchain smartphone is completely dependent on the blockchain technology, creating a decentralized system of transaction that too completely transparent.
Present days the smartphone industries are developing phones with built-in blockchain features so that users can spend digital coins that cannot be duplicated but at the same time will function like genuine currency.
Various companies like Samsung, HTC and Sirin Labs have already launched phones especially focusing on blockchain and cryptocurrency. Even Apple unveiled its Cryptokit structure where developers will be able to build cryptographic operations within their apps. Although they haven’t made it clear whether they are planning to launch their own digital coin or will act as a wallet for other cryptocurrencies.
Whatever be the scenario it is good news especially for the crypto market as the more this technology spreads more people will get involved in this and soon use of this application on various sectors will be limitless.
But it is also true that you must take some of the measures from your side while using blockchain through smartphones, to prevent hackers from hacking cryptocurrencies from your mobile phone. Always recheck the address where transactions are to be made and use two-step authentication process so that hackers are unable to ascertain the correct password and also make it time-sensitive so that you can automatically log out from the application after certain time even if to forget to log out manually. Apart from all these, it is always recommended not to use public Wi-Fi as chances of getting hacked increases. You can always use a VPN so that your data is encrypted through a secure tunnel and chances of data leakage is almost nil.