Transforming the Internet age by using the blockchain-powered phone

Transforming the Internet age by using the blockchain-powered phone

Blockchain News
September 22, 2018 Editor's Desk
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Currently, the blockchain is the most debatable technology due to its instability. The disruptions caused by blockchain are touching new heights with each growing day. One thing which is inevitable is our future dominated by the use of blockchain and its widespread applications. It was months back when HTC had come up with the intriguing
smartphone blockchain-powered phone

Currently, the blockchain is the most debatable technology due to its instability. The disruptions caused by blockchain are touching new heights with each growing day. One thing which is inevitable is our future dominated by the use of blockchain and its widespread applications.

It was months back when HTC had come up with the intriguing plan of unveiling a blockchain-powered phone- HTC Exodus. It seems that the company is ready to present the device to the world by the end of the year. Whatever may be the case, the blockchain powered smartphones are the future, but the important thing is how HTC plans to expand the blockchain ecosystem to more users than ever before.

Phil Chen, HTC’s head of Exodus puts up the ambitious idea of the company in his words, “A few years down the road, we see a world where people own their own identities and data, where everyone understands the concept and economics of digital property.”

Features of HTC Exodus

 

  • It provides you ultimate security from the malicious threat

 

The demerits of centralization of data projected the idea of decentralization, leading to the development of the blockchain. Phil Chen says, “One of the most critical things within crypto is architecting security within the phone…security was never built into the original internet.”

To dissipate the security worries of the users, HTC has built a secure enclave within what it calls the “trust zone” directly within the Arm hardware found in the Exodus which is enabled with a new standard trust execution environment, to keep your cryptocurrency funds safe and sound. The execution environment is separate from the Android OS, making it extremely hard for anyone to gain access to the wallet and steal your coins.

 

  • What if I lose my phone??

 

Matthew Green, a cryptographer at Johns Hopkins University says, “Phones are very promiscuous in the sense that they transfer a lot of data, they connect to a lot of networks, and we install third-party apps on them. They can be made relatively secure, but they’re not the safest thing to carry around a lot of money.”

Exodus offers the solution to this immediate need of the hour with a unique security safeguard. The empowered smartphone will come with a system called Social Key Recovery, making it impossible for hackers to gain access to storage wallet. The wallet can only be recovered or accessed with a unique key and during the set-up process of the device; you’ll be asked to select a handful (Chen says between three and five) contacts each of whom will then receive a part of the key, accessed only through a special app.

 

  • Transforming the internet as we know it today

 

Phil Chen showed his distress, “In the Information Age, there needs to be a definition of digital property if this digital property is not defined…I would be very scared of what the next generation of the internet can become.” Thus the Exodus project aims to provide its users with the ability to own their cryptocurrency keys as well as their personal data.

HTC is optimistic about the Exodus as it marks their return to the smartphone market after years of struggle to sell Android devices.

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