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- South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits
- Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
- Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws
The highly-anticipated very first fully-backed crypto phone, the HTC Exodus, has just become a little more… well, cryptoed. The Taiwan-based consumer electronics company confirmed that its intriguing new decentralized-focused smartphone will support Litecoin (LTC)trade. The company had already disclosed previously that the phone will also support Bitcoin(BTC)trade and Ethereum (ETH)trade.
It was Litecoin founder, Charlie Lee, who first revealed that HTC intends to implement Litecoin and Lightning Network in the HTC Exodus; additionally, he divulged that he will serve as an advisor for the company.
Met the HTC Exodus team last week and was really excited to hear the phone will support LTC and Lightning Network on Litecoin natively! I will be an advisor as I see having a secure crypto phone that makes LN simple is needed for mass adoption.
P.S. No, they will not remove BTC. https://t.co/WQcygPVst0
— Charlie Lee [LTC⚡] (@SatoshiLite) July 30, 2018
Shortly thereafter, HTC confirmed (with great honor) the details on the official HTC Exodus Twitter account.
One small step for @SatoshiLite. One giant leap for blockchain.
— HTC Exodus (@htcexodus) July 30, 2018
The HTC Exodus is planned to be released at some point during the third quarter of 2018, and although not all (or many, for that matter) of the technical specifics are known, the Taiwanese company does boast quite a few exciting crypto features which will be inherently integrated in the smartphone. Some of the features of the Exodus will be (from the HTC Exodus website):
- Trusted Hardware
- The Switzerland of Protocols – Working with multiple protocols with the intent of interoperability between blockchains.
- Bringing DApps to Mobile – Increasing DApp user base. Bringing streamlined mobile user experience to the DApp community.
- Every Phone is A Node – Providing more nodes on the path to true decentralization. We want to double and triple the number of nodes of Ethereum and Bitcoin.
- Universal Wallet – Provide a trusted hardware stack with APIs that connect to wallets.
- Trusted UI – Trusted and user friendly for DApps.
- Own Your ID. Own Your Data. – To have your identity and data on the phone rather in a centralized cloud.
- Exodus Forum – Open mindedness towards collective wisdom of the crowd.
For HTC, the Exodus is both a big gamble and also a beacon of hope. In early July, the company disclosed that its previous month’s sales had declined by 68%, and that it was preparing to discharge 1,500 employees, a quarter of the company’s entire workforce globally. The stakes are extremely high for HTC, then, and the blockchain-based Exodus could certainly help it recover – or, of course, bring it one step closer to its downfall.
For Litecoin, however, things seem only to be trending upward. LTC is the 7th largest cryptocurrency by market capitalization, and a few weeks ago it was announced that the Litecoin Foundation has even acquired shares in a German bank (through a partnership with TokenPay).
Whatever the outcome of this fascinating crypto-smartphone hybrid release will be, we will be there to cover it.