Telecom Companies Looking Into Blockchain Technology
Blockchain has managed to attract a number of telecom giants and as the technology continues to grow beyond cryptocurrency’s boundaries, companies have increasingly begun exploring ways to utilize its decentralized network model. After Sirin Labs announced last week the specs of their first blockchain-based smartphone, called Finny™, HTC is next in line.
Making blockchain phones a reality, HTC’s upcoming Android phone Exodus will reportedly use advanced security features that are designed to ensure users’ safety by preventing attacks from malicious hackers. HTC’s new smartphone initiative is being led by the development efforts of Phil Chen, who is in charge of HTC’s business and corporate development. He stated:
“Through Exodus, we are excited to be supporting underlying protocols such as Bitcoin, Lightning Networks, Ethereum, Dfinity, and more. We would like to support the entire blockchain ecosystem, and in the next few months we’ll be announcing many more exciting partnerships together.”
What can we expect from Exodus?
There are a number of things we can expect from Exodus. For example, it promises to be a “universal cryptocurrency wallet.” This will be achieved by enabling support for several blockchain protocols. Additionally, users’ security will be a top priority by implementing a highly secure exchange portal.
There will also be a “point-to-point” resource sharing ecosystem for various types of applications and options to securely store digital currencies offline by making private keys unshareable.
Sirin Labs Finny in Competition with HTC Exodus?
Last summer, Sirin Labs announced the launch of its $1000 blockchain powered smartphone by the end of October 2018. Although Finney seems to have the same basic features as HTC Exodus plans to have, it remains to be seen which phone will become more popular among users. Notably, Sirin Labs claims that it has already received 25,000 pre-orders and hopes to sell at least a million units of its smartphone.
A Decentralized Web?
Exodus will leverage a native blockchain network which will allow for easy cryptocurrency trading among smartphones users. However, blockchains store a large amount of data and it could potentially slow down a smartphone. So, one might ask, is it even necessary to create a blockchain-based smartphone?
Is this just another move by yet another company in an attempt to raise its share prices? Regardless of what the actual motive might be, Exodus will soon be available for pre-orders and bitcoin payments will be accept as well.