Blockchain Phones: Not a Distant Dream Anymore

After establishing itself by being the backbone technology of cryptocurrency, Blockchain now finds its way into smartphones.

Blockchain Phones Not a Distant Dream Anymore
Smartphones to incorporate Blockchain technology

If you are a technology enthusiast, it’s hard not to be aware of Blockchain. The technology, build on shared ledgers, has established itself to be a decentralized platform that enhances security and privacy. Its foray into mainstream occurred during the rise of cryptocurrency, being the backbone technology used in trading de-centralized money. As its potential gets cemented, many platforms are utilizing the application in the development of their own product. In May 2018, the mobile phone manufacturer, HTC, announced the launch of its Blockchain-focused mobile device, Exodus, to occur later this year.

So why exactly has Blockchain technology garnered so much attention among the tech community? To answer the question, one needs to dig deeper into what the technology actually entails. In a digital world, privacy and security concerning data has become an import aspect for all users. Rather than storing data, which includes your personal information, on a specific server, Blockchain uses a decentralized model where all the users, or blocks, of a specific product stores bits and parts of the information. Furthermore, every block has its own set of encrypted keys. Chaining these keys from every block will give you access to your information, ensuring maximum security of your data. It’s surprising not to see, that how a de-centralized monetary system like cryptocurrency based itself on Blockchain technology to ensure maximum privacy to its users.

By integrating Blockchain technology into smartphones, HTC is ready to set the trend in creating a connected network of mobile devices. The main feature of Exodus is a wallet that supports cryptocurrency protocols for mining Bitcoin, Ethereum and Dfinity, which will multiply the number of nodes used for their transaction. The wallet, dubbed as the most secure in the world, will ensure extra security due to high-level encryption tools. Exodus will also possess a cold storage hardware that could store the user’s cryptocurrency offline, often on a different web server, adding an extra layer of security. As high stake trading and cryptocurrency mining requires powerful hardware, it’s still a mystery how HTC manages to deliver the final product. However, HTC promises that by launching Exodus, it gains one step towards “making decentralization a reality”.

Of course, other companies have also states their mission to launch their own Blockchain powered smartphones. Sirin Labs has gathered the specifications for its Finney Blockchain smartphones. Rumors of Huawei considering its own Blockchain device based on Sirin Labs’ system is also making rounds in the mill.

In a world governed by constant paranoia regarding data security, Blockchain might be the solution to these problems. Already cementing itself as the standard technology to ensure maximum security, its potential could be huge in various fields. Mobile phones are the latest market to understand its potential, and HTC’s decision to build one using such technology only shows the companies drive towards a decentralized world. While the exact date of the launch is still unknown, HTC hopes that that Exodus will re-establish its market as one of the leading manufacturers of smartphones in the world.