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Today, Tuesday October 23, the Taiwanese smartphone manufacturer HTC has announced the specs for its much-anticipated crypto phone called Exodus 1. Exodus 1 was first announced in May this year, and there has since been much excitement about the phone from cryptocurrency fans.
The blockchain-based phone encompasses a secure area where your wallet is kept, that is “protected from the Andriod OS.” This is a major selling point for crypto-loving Andriod users since the Andriod OS, while versatile and extremely popular, is often the target of successful hacks. The phone is now available for preorder.
The Cryptocurrency Wallet
The cryptocurrency wallet embedded in the phone is called Zion and allows the phone to function as a cryptocurrency hardware wallet. The wallet is housed in a secure area of the phone’s chip to ensure it is kept separate from the native Andriod OS. The technology used by the wallet was created by a company called Softbank who bought British software design company Arm Holdings.
HTC’s Decentralized Chief Officer, Phil Chen said: “Think of it as a micro OS that runs in parallel with Android… It’s basically is a wallet, but the wallet, what it does is hold your private keys.” Private keys are lines of code which are meant to be known only to the owner of a cryptocurrency to allow them access to their funds.
Gaining Control of your Digital Identity
Chen argues that the move is significant in a world where we have little control over our data once we offer it to companies with which we interact. While we are not forced to interact with these companies, it can be argued that you would be missing out on integrating into a modern world without interacting with Google, Facebook, or the major Chinese companies in dominating the market in Asia such as Baidu, Alibaba and Tencent.
Chen believes Exodus 1 and the technology it provides is the first stepping stone to gaining control of your digital identity. With the wallet, your keys are protected and only known to you, they are your data and you have control over them.
Exodus 1 Specs:
- quad-HD+ resolution on a 6-inch display.
- 16 megapixel duel camera and a 8 megapixel front camera.
- 4K video.
- A Qualcomm Snapdragon 845 processor.
- 6GB RAM and 128GB storage.
The phone is only available to buy with Bitcoin (BTC) or Ethereum (ETH), a bold and somewhat risky move from HTC. The move is a clever one because it ensures the phone reaches its main consumers, cryptocurrency users, making the wallet an extremely useful part of the phone, rather than a gimmick or add-on to another smartphone.
The phone is available for preorder at 0.15 bitcoins or 4.78 ether tokens, which converts to about $960. Customers who preorder should expect to receive their phone in December.