Samsung announced a new security chip and software that provide an extra layer of protection for cryptocurrencies stored in mobile phones.
The world’s largest electronics manufacturer will be adding a Common Criteria Evaluation Assurance Level 5+ certified Secure Element to a new line of smartphones. This security chip will help data stored in phones protected, which is completely separate from the phone’s main storage.
Samsung explains that this turnkey chip is tamper-resistant and is able to store user’s confidential data including PIN codes, passwords, and cryptocurrency keys. The security chip S3K250AF utilizes specialized software to combat reverse engineering and laser attacks. According to the smartphone manufacturer, this solution is the ‘most secure hardware’ in any smartphone today.
In addition to reversing attacks, the turnkey solution can also prevent replay attacks and manage failed requests.
Samsung made the announcement on February 26, stating, “Samsung has a long and proven history in security solutions such as smart card ICs, IoT processors, and other semiconductor products that require robust security. Our new turnkey SE solution for mobile devices will not only keep user data safer on the go but also enable new mobile applications that will broaden and enrich our everyday lives.”
Evolving Essential Tools
With the rise of the cryptocurrencies, Samsung thinks out-of-the-box to make the mobile experience better in terms of security. The new chip is a crucial feature that can make data connected to various services including cloud and financial transactions. The best part is, every data shared is guaranteed secured, even the most private keys in cryptocurrencies.
Samsung is leveraging the impact of cryptocurrencies in today’s generation. The company will be releasing the Galaxy S20 series this March, and according to sources, security chip will be implanted into these new devices. The turnkey solution will help increase the brand’s value in secure data storage.
Previously, the smartphone manufacturer introduced a built-in cryptocurrency wallet and data protection in the Galaxy S10 series. However, what makes turnkey chip unique is its ability to prevent attacks from applications and the web.
The security chip combines a microcontroller and advanced-level protection to secure the phone’s operating system. According to Samsung, the CC EAL 5+ hardware is the ‘highest level’ received by a smartphone. This ensures a high level of security and assurance that data stored is protected and can’t be accessed by third-party apps.