Smartphones changed the way we communicate online. Now HTC wants to take the capabilities of the mobile phone a step further by combining it with blockchain technology.
The DCO (decentralized chief officer), Phil Chen, spoke about the new Exodus smartphone yesterday describing it as a decentralized hub for blockchain networks and storage unit for cryptocurrencies. This simple description doesn’t give justice to the potentially paradigm altering features locked in this unit if executed as planned.
Expanding the Network
HTC plans to use every Exodus device as a node, connected to the ethereum blockchain instead of operating through a server. Plus, it would include multiple protocols that would allow interactions between other blockchains.
This would strengthen the blockchain by allowing phones to verify activity. It would also help with one of bitcoin’s and ethereum’s largest problems of scalability by making transactions faster and cheaper with more nodes on the network.
In addition to using ethereum’s blockchain, the smartphone would utilize their DApp (decentralized app) system to create endorsed and secure apps used throughout the network. Since DApps are created and shared on the blockchain, they cannot be altered with threats like viruses or corrupted through a centralized target like a server. It also cuts out the middleman and relies on peer-to-peer sharing on the frontend through smart contracts on the backend.
Popular mobile wallet apps can be downloaded using a simple interface. In addition, the phone comes with a built-in global wallet and an API to connect to other wallets or develop new ones through the network.
Own Your Data
Unlike traditional phones where your personal information is uploaded to third parties like Facebook and stored online, the Exodus would keep your identity stored on the device. This is the pillar of blockchain technology that can now be used to encrypt your entire phone while maintaining your privacy by keeping it offline.
Another benefit of using the blockchain network to make transactions and share data is its security and resistance to hacks. Data is not stored in a central location nor in only one location. Threats are easily detected as everyone would see it on the blockchain and data cannot be completely stolen as it is backed up throughout the network.
HTC High Hopes
Although much of the detail surrounding the technology’s practicality has yet to be revealed, HTC seems to be aiming high. Their website offers brief details about the phone’s secure and decentralized intentions as well as their goal to revolutionize and take back the internet. But, we must wait for anything more.
Whitepapers are to be released in July-August with more information on the phone’s functionality, says Chen. However, their confidence seems high as well given that their site is accepting reserve orders, and they hope to start shipping phones by the end of the year.