The crypto market has been thriving and expanding with lush fame and reach, which has significantly been contributed by many Fortune 500 tech companies over time like Samsung, Microsoft, Facebook, and such. Now joining the long list is Apple, which has come forth to support crypto in its own way along with Microsoft.
While Microsoft is working on its smart contract auditing tool, Apple has announced CryptoKit, a cryptographic functionality framework. Microsoft is also working on its smart contract auditing tool. This will serve as a major sign of the company supporting and involving itself in the growing technology.
In its Worldwide Developers Conference held yesterday, Apple gave an update on its product lineup and talked about its software development kits that are to be released, one of which was crypto- focussed dev kit Cryptokit that was debuted.
The new software development kit provides the developers with the technology to perform cryptographic operations securely and efficiently. The kit is geared toward using other cryptographic code elements being run on Apple products outside of cryptocurrencies.
One of the Apple framework’s essential function is to support emerging financial technology and its respective crypto assets. It will allow the developers to perform common cryptographic tasks like hashing, key generation, and encryption in the upcoming apps in iOS 13.
It also allows the users to compute and compare cryptographically secure assets, along with the ability to use public-key cryptography to create and evaluate digital signatures and perform the key exchange. Using this kit, users can obtain wallet-level security for their digital crypto assets and more.
Samsung, one of Apple’s serious competitors, recently launched its Galaxy S10 series with in-built blockchain and cryptocurrency protection features. Considering the substantially rich market share that Apple enjoys, the potential success of an iPhone-based crypto wallet is bound to exceed all hopes.
Apple joins other companies in the tech space in bolstering the crypto market towards the future. Apple has recorded to have over 1 billion active users. Even if a fraction of them begin to use crypto regularly, the crypto-market is bound to flourish unprecedentedly high.