Why HTC is Only Accepting Bitcoin and Ethereum for its Blockchain Phone

HTC Exodus blockchain phone

Taiwanese customer electronics giant HTC has formally launched its 1st blockchain telephone, which will be offered solely in crypto.

Referred to as Exodus 1, the blockchain cellular telephone of HTC is available to buyers at a fastened value of .15 Bitcoin (Etc) and 4.78 Ethereum (ETH), nearing the value of the new Iphone XS that has a commencing value of $999.

The Exodus 1 is offered at all around $975 dependent on the latest value of Bitcoin at $6,500. However, as the value of BTC rises, the value of the telephone will also enhance considerably. BTC was valued at $10,000 much less than 4 months in the past, and if BTC reaches the $10,000 resistance stage in the months to come, the price of the Exodus 1 could surge to $1,500.

Why Pegged to BTC and ETH?

The most important aspect of the Exodus 1 is its security. It has been produced to function as a hardware cryptocurrency wallet, allowing for users to safely and securely retail store digital property in the nearby wallet of the telephone.

In July, Samsung, the biggest electronics company in Asia, unveiled that cellular telephones are appreciably a lot more safe in processing cryptocurrency payments than choice devices and platforms these types of as desktop and the website mainly because of the existence of a trustworthy ecosystem named the Dependable Execution Ecosystem (TEE).

htc exodus 1 blockchain phone

With TEE in spot, which operates as a individual execution environment with its individual memory and storage, it is not possible for hackers to breach into guarded data stored within just the TEE ecosystem in the function of a hacking assault or a security breach.

“This is why smartphones have an edge around laptops and desktops for cryptocurrency wallets: devoid of the positive aspects of the hardware-dependent TEE, the keys are a lot more susceptible. There is a sizeable caveat: a naïve wallet developer may choose to basically retail store the keys on the ordinary inside storage of the telephone, in which case there’s very little extra safety from employing the smartphone platform,” Joel Snyder, a senior IT consultant at Samsung Insights, discussed.

Exodus 1 of HTC leverages this ecosystem alongside with various other security attributes in a cellular telephone to generate a safe environment for cryptocurrency users.

In regards to the conclusion of the firm to provide the system solely in crypto with value pegged to BTC and ETH, Phil Chen, head of HTC’s blockchain initiative, instructed Hong Kong-dependent mainstream publication SCMP stated that the firm only intends to provide the system to the main viewers that is the world blockchain community.

“Selling it in crypto only and being the 1st to do so indicates we are bringing this directly to the main viewers and those people who will want this system – the blockchain community. It reflects our perception in cryptocurrencies – in simple fact we had to recreate and triumph over quite a few processes internally, as effectively as uncover new distributors, so that we can reach the target of only accepting cryptocurrencies as the sort of payment.”

Selling price Transform

In the months to come, if the value of BTC and ETH rise or decline by a huge margin, HTC is envisioned to adjust the value of its cellular telephone to retain a realistic value tag which its customer base can find the money for.

Photos from HTC Exodus

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