Samsung’s Newest Security Chip Solution To Protect Cryptocurrency Transactions

Ruben Fields
May 26, 2020

"With the new standalone security element solution (S3FV9RR), Samsung is mounting a powerful deadbolt on smart devices to safeguard private information".

This latest offering, which is described as a standalone turnkey security solution is made up of two elements - a secure element chip and enhanced security software - that's created to work in tandem to help protect against a number of smartphone-related transactions such as booting, isolated storage, mobile payments.

Earlier this February, Samsung unveiled its new smartphone range, the Galaxy S20, which supposedly enhanced the embedded blockchain security features introduced a year ago in Galaxy S10. The security standard is utilized in applications with most stringent security needs such as e-passports and cryptocurrency hardware wallets.

The new security solution from Samsung features twice the secure storage capacity compared to the first-generation chipset.

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Samsung has launched a new security chip that has attained the highest ever security rating for a mobile component.

The Samsung Secure Element S3FV9RR chip supports hardware-based root of trust (RoT), secure boot, and device authentication.

Any device with S3FV9RR chip and the accompanying software is guarded against malicious attacks and unauthorized software updates.

As a standalone solution, the new security solution can work independently from the security performance of the device's main processor. It can be used in IoT devices and smartphones. It's also an extra layer of protection when mobile payments are initiated. This secure booting process is handled by the RoT, which gives service providers, manufacturers, and interested organizations the confidence that their proprietary applications are run only on an uncompromised device or on non-authorized firmware.

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