The blockchain is the new trend and soon your smartphone will be too.
The evolution in technology is really surprising. Who would think that a device can be run by blockchain? But there’s a catch, this blockchain smartphone can only be purchased using cryptocurrency.
HTC revealed in May the launching of its first blockchain device called the Exodus 1. The announcement was made during the CoinDesk Consensus conference. The Taiwanese phone manufacturer has begun taking orders to be shipped in December 2018. The company designed its own cryptocurrency wallet known as Zion to make its new device perform as a hardware cryptocurrency wallet. The smartphone could either sell for 0.15 BTC or 4.78 ETH.
The Exodus 1 is geared with 6 GB of RAM, a 16-megapixel dual rear camera, and top-of-the-line Qualcomm Snapdragon 845 processor. It also boasts of 128GB storage, 6-inch Quad HD+ display with 18:9 aspect ratio, 8MP dual front cameras, and IP68 water and dust resistance.
Exodus 1 will provide exceptional aspects of its flagship smartphones. It includes blockchain software and a cold storage wallet for keeping cryptocurrency keys (allow access to cryptocurrencies) and other personal information at the same time. HTC not only sells the blockchain smartphone to those cryptocurrency users but also to those who want to regain control of their personal information.
There is a solution in case a blockchain smartphone user lost his device could not remember his keys. The Exodus 1 has a built-in “Social Key Recovery” procedure that allows users to assign a few contacts as “credible,” and each contact will have access to download a key management app.
The recovery seed of the user will be separated among trusted contacts. So when the blockchain smartphone got lost or the private key is forgotten, the “trusted” contacts could help the user get access to his funds again.
The phone company also considers releasing application program
interfaces or APIs for third-party developers, enabling them to use Exodus 1 to safeguard keys and sign transactions. There are also ongoing plans to advance a software development kit or SDK for its wallet for associates who want to be a part of its blockchain
Cryptokitties is the primary projected array of apps for a blockchain marketplace and crypto gaming applications store from HTC. The game makes use of the exact system as blockchain to gather special virtual cats and would also become obtainable on other devices, beginning with the HTC U12+.
HTC is encouraging other developers to disseminate their collectibles, blockchain games, and non-fungible tokens via its storefront. The company is also collaborating with the crypto-based digital ownership project, Bitmark.
“The first step is to empower and educate the consumer to own their own keys. From there, that will help expand the blockchain ecosystem and lead to people owning their own data and digital property in the near future,” HTC’s decentralized chief officer Phil Chen said.
The first thing buyers should know about HTC’S Exodus 1 is that it is not a purported cold storage wallet that would keep digital credentials detached from the internet. The blockchain smartphone would rather seek consensus between the disadvantage of cold storage and the extra consequences of centralized markets. Its fundamental objective is to keep track of the individual’s Bitcoin and Ethereum.
The blockchain smartphone will be available in 34 countries. These include Austria, Hong Kong, New Zealand, Norway, Singapore, Taiwan, UK, the US, and other European countries.