Sci-tech

HTC announce blockchain-powered smartphone

HTC announce blockchain-powered smartphone”

The difference is it will be created to support blockchain-based distributed apps, a feature the company describes as "built-in secure hardware".

Blockchain is a technology popularized alongside cryptocurrencies like Bitcoin.

According to The Next Web, HTC's blockchain phone will be called Exodus and is scheduled for a release at some point in October.

The phone is called Exodus and it's being imaged as a phone that gives users the agency to "take back the internet", telling social media sites to "let my data go" and leaving individuals' information in literally their own hands, not in the centralized servers of Facebook and Google. Blockchain is supposed to be safer than current centralized record keeping, and many are touting it as the wave of the future.

At its most basic level, blockchain is a digital ledger - it's commonly used as a record of cryptocurrencies and transactions made using that currency. Chen, who now holds the title of "chief decentralized officer", will head all of the firm's cryptocurrency and blockchain-related initiatives.

How will it work in phones?

HTC is also going to allow users to purchase the Exodus using cryptocurrency, though a price has not yet been announced. CryptoCurrency? Well, HTC thinks there's a lot of interest in it, so much so they're developing a blockchain friendly smartphone.

Blockchain smart phones are touted to offer better security and user experience by integrating cold wallet storage right into the phone, and enabling direct trading of the native cryptocurrency with peers on the phone's network, without mining fees.

HTC isn't the first phone-maker to announce a dedicated blockchain device. This would be the second Blockchain smartphone, behind Sirin Labs Finney smartphone that is priced at $1000.

It will be interesting to see how these devices play out. It is also unknown if the device will be retailed in territories outside of the US.



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