World's First Crypto-Enabled Phone to Be Released By HTC

Author: 
Joel S.
Date: 
October 30, 2018
Read time: 
2 minutes
Smartphones
Cryptocurrency
Adoption

The Taiwanese electronics beast HTC has announced the production and future release of the Exodus 1 – a smartphone built to store and manage crypto assets.

Phil Chen, HTC’s Decentralized Chief Officer is the guru behind the new phone. His opinion on decentralizing the internet by allowing individuals to control their own data is at the forefront of the recent marketing blitz. All user data, from search history, consumer information, spending patterns, even banking are all controlled by 3rd party companies. Most of the world’s data is centralized in giant servers owned by tech giants like Google and Amazon. According to Chen, cryptocurrency is allowing sovereign individuals to control their own data for the first time in tech’s brief history.     

The Taiwanese electronics beast HTC has announced the production and future release of the Exodus 1 – a smartphone built to store and manage crypto assets.

Phil Chen, HTC’s Decentralized Chief Officer is the guru behind the new phone. His opinion on decentralizing the internet by allowing individuals to control their own data is at the forefront of the recent marketing blitz. All user data, from search history, consumer information, spending patterns, even banking are all controlled by 3rd party companies. Most of the world’s data is centralized in giant servers owned by tech giants like Google and Amazon. According to Chen, cryptocurrency is allowing sovereign individuals to control their own data for the first time in tech’s brief history.     

History of the Exodus 1

HTC released the world’s first Android OS phone back in 2008. Originally produced as a solution to Apple’s monopolistic control over the smartphone industry, Android has done little to reduce centralization. The Exodus 1 is being created to solve the problem of consumers not owning their own data.  

Ordering the Exodus 1?

Available for Pre-order now. Its tentative release date is December 2018. Anyone interested needs to pay in crypto, 0.15 Bitcoin (BTC) or 4.78 Ethereum (ETH). The price of the phone is pegged to the cryptocurrencies, which means it will either rise or fall in cost compared to fiat currency.

Cryptomaiaks

Technical Specs of the Exodus 1

The operating system is Android but the crypto storage feature is kept separate, running as a parallel program within the phone. Similar to cold storage, tokens are able to be stored on the device’s local wallet. Basically, it’s secure and convenient, giving users the best of both worlds. The phone is also designed to host dApps, integrating with the wallet, making it easy to interact with blockchain programs.

Losing a phone with private keys stored inside would be devastating. The Exodus 1 incorporates Shamir’s Secret Sharing Scheme which splits up your key recovery among trusted contacts. This enables users with a lost phone to recover their crypto assets just in case the hardware gets lost or damaged.

The hardware is built to interact with blockchain-related apps. It’s the first example of a handheld device that is built to operate as a node. Will a handheld crypto-friendly device do for cryptocurrency what the iPod did for MP3s? Keep following Cryptomaniaks for the latest in crypto-news.

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