The Taiwanese consumer electronics giant HTC has officially unveiled its first Blockchain phone, sold exclusively in crypto technology. Called Exodus 1, the HTC Blockchain phone is available to consumers at a fixed price of 0.15 Bitcoin (BTC) and 4.78 Ethereum (ETH), approaching the price of the new iPhone XS, which has an initial price of $999.
The Exodus 1 is selling for about $ 975 at the current Bitcoin price of $ 6,500. However, if the price of the BTC increases, the price of the phone will increase considerably. BTC was estimated at $10,000 less than four months ago and if it reached the resistance level of $10,000 in the coming months, the value of Exodus 1 could reach $ 1,500.
Why only BTC and ETH?
The main feature of Exodus 1 is its security. It is designed to function as a cryptocurrency hardware wallet that allows users to securely store digital resources in the local wallet of the phone.
In July, Samsung, the largest electronics manufacturer in Asia, announced that mobile phones are much safer to process cryptographic currency payments than alternative devices and platforms, such as desktops and the Internet, because there is a reliable ecosystem called Trusted Execution Environment (TEE). With TEE, which functions as a separate runtime environment with its own storage, hackers cannot break protected information within the TEE ecosystem in the event of an attack or security breach.
“That’s why smartphones have an advantage over cryptocurrency laptops and desktops: without the hardware-based benefits of TEE, keys are more vulnerable.” There is one major disadvantage: a naive portfolio developer could simply store the keys in the phone’s normal internal memory. In this case, there is little additional protection against the use of the smartphone platform,” said Joel Snyder, senior IT consultant at Samsung Insights.
Exodus 1 from HTC uses this ecosystem along with other security features of a mobile phone to create a secure environment for cryptocurrency users.
Regarding the company’s decision to sell the device exclusively in cryptography at a great price to BTC and ETH, said Phil Chen, director of the HTC Blockchain initiative, the main Hong Kong-based publication, SCMP, whose company only has the intention of Device sale to the main public, which is the global blockchain community.
“If we just sell it as cryptography and we do it first, we’ll pass it directly to the main audience and those who want it, the blockchain community reflects our belief in cryptocurrency. we have had many internal processes and find new distributors, so that we can achieve the goal of only accepting cryptographic currency as a means of payment.”
In the coming months, when the price of BTC and ETH increases or decreases sharply, it is likely that HTC will adjust the price of its mobile phone to obtain a realistic price that the consumer will maintain.
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