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Today's Gazette – Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News

Enjin Coin (ENJ) Rockets 223% On Samsung Partnership Confirmation

Altcoins

Enjin Coin (ENJ) Rockets 223% On Samsung Partnership Confirmation

Enjin Coin (ENJ) has rocketed 179% against the US dollar since 24 February when Asia Crypto News published its story claiming a partnership has been sealed between Enjin and Samsung, with the gaming blockchain’s wallet product at the centre of the relationship.

Against the South Korean Won the ENJ price has jumped 223% on Bithumb, as seen on the 1-hour chart below.

And it’s not the only beneficiary. South Korean-based beauty industry dapp Cosmee has seen it COSM coin advance 45%.

News coming out of the Samsung Mobile Business Summit in Barcelona yesterday would appear to confirm the rumours of the Enjin partnership and of the Cosmee tie-up.

Cosmee connects consumers creating beauty-related content and the businesses and products they follow, with a rewards system that issues payment in COSM.

The dapp is built on the Ethereum-based Cosmochain.

 

Tworld, South Korea’s second-largest telecoms company, released an image showing what appeared to be the wallet of the gaming-focused Enjin project.

Additionally, images and video from the Samsung Mobile Business Summit held in Barcelona yesterday confirm that at minimum the Enjin Coin is being supported as is South Korean decentralised app focused on the beauty industry, Cosmee – both cryptoassets were pictured in stage slides as being supported, alongside bitcoin and Ethereum.

 

(Credit: Asia Crypto News)

And here’s the video:

Galaxy S10 supporting Enjin Coin is not same as making it the default wallet

However, there is a big difference between on the one hand Samsung’s Galaxy S10 supporting the Enjin Coin and, on the other, using the Enjin Crypto Wallet as the default pre-installed crypto storage solution for the Galaxy S10.

Enjin is building an ecosystem for gaming that has impressive traction, with 20 million users with 250,000 gaming communities already onboard. The Enjin Coin token is used for buying in-game digital assets and assigning ownership.

Statista estimates $32 billion will be spent on in-game virtual items by 2020.

Smart gaming move by Samsung

The tie-up with Enjin may be a smart move on Samsung’s part as it would help it to target the fast-growing gaming and e-sports markets, particularly in Asia.

Samsung is also working with Unity to speed up game performance on its smartphones

ERC-1155 (invented by the Enjin team) and ERC-721, made well-known by the success of CryptoKitties, are what are known as non-fungible tokens – each token is different and as such can represent unique items, for example in-game digital assets.

Who will follow Samsung?

Given the fierce competition in the handset world, other manufacturers may follow where Samsung has led. HTC and Huawei already have phones in their line-up with blockchain features. Late last year Sirin Labs launched a blockchain-based smartphone called Finney.

Apple’s iPhones are currently nowhere to be seen in the crypto space as far as direct integration of blockchain support into iOS is concerned.

For that matter neither is Google and its more popular Android smartphone operating system. Although Samsung’s phones run on top of Android, it builds in its own proprietary software, such as Samsung Knox.

Enjin Crypto Wallet best in class with state-of-the-art NSA “Rule of Two”

The Enjin Crypto Wallet could well be the best in class when it comes to mobile crypto wallets.

The wallet has been available to download since last year for both Android and iPhone and supports storage of 700 tokens. It also includes a feature called Beam that allows the user to receive crypto deposits by scanning a QR code.

In January Enjin also introduced in-app token conversion, enabling trading of tokens between each other with a feature called Enjin Wallet Swap.

Claimed to be the world’s most secure browser by Enjin, the software wallet uses the NSA “Rule of Two” encryption method to encrypt data that has previously been encrypted using the same or different algorithms.

Elsewhere in the crypto market, bitcoin is holding above $3,800 as news on XRP’s listing on Coinbase and the Samsung crypto developments help to stabilise prices after Sunday’s correction.

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Gary is a cryptocurrency analyst at Interactive Investor, the UK’s second-largest stockbroker. He has been writing professionally about cryptocurrency since 2013, when he initiated bitcoin coverage at Money Observer, one of the UK’s most respected investment magazines. Gary writes for Today’s Gazette in a personal capacity and his contributions should not be taken as investment advice

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