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Finney, the blockchain phone announced at the top of the 2018 token craze, should begin shipping in late December.
Unveiling its definitive design for the first time in an event in Barcelona today, Sirin Labs, the telephone manufacturer, promises to advance the user experience of decentralized apps (or dapps) with its new hardware.
The company claims to have raised over $ 157 million with an initial coin offering (ICO) announced at the start of this year to fund the development of the device. However, with so few things being launched, it remains to be seen if there is an interest in a better decentralized web user experience.
Sirin would not have committed to a specific date, but Nimrod May, the company's marketing manager, said that shipping projects will start between December 15th and 25th. Sirin has partnered with one of the world's leading electronics manufacturers, Foxconn, to produce the devices.
The $ 999 phone can now be pre-ordered for holders of the siren token (SRN). More payment channels will go shortly, and May explained that the company will always exchange any form of payment that buyers use for sirin as it closes each sale.
There is no relationship between SRN and the price of the phone, so those who bought them in token sales are at the mercy of the spot price. The token has rebounded between $ 0.06 and $ 0.18 in the last three months, although in trend and occasionally spiking since last October, according to the CoinCap data site.
More players have entered the market since Finney was proposed for the first time. In particular, HTC has promised a device designed for crypto in mind. parvenu Pundi X he also entered the fray.
Sirin & # 39; s May refused to give CoinDesk a pre-order, but gave a sales projection: "I'm fairly confident that we will exceed 100,000 in the first year".
Safety cuts
As a phone designed to carry around cryptocurrency, Finney makes strong claims about his safety.
May emphasized the depth of team experience in information security and its application of artificial intelligence to intrusion detection. The phone is also built with a modification of the Android mobile operating system, called SirinOS, which was designed with blockchain functionality in mind.
That said, the security feature that will undoubtedly receive more attention will be its cold storage portfolio. As May described it to CoinDesk, this wallet is actually a second device in the same phone case.
He said he has a separate processor and users will interact with the wallet on a second LCD screen. The phrases of the seeds will be inserted only through that screen. This can be seen in a design video published by the company.
In order for people to be able to use the new apps in the company "dCenter" or in the decentralized app store, Sirin will make it easier for app producers to send free tokens to Finney users.
"We encourage the user by incentivizing it with launches," said May.
Moshe Hogeg, CEO of Sirin Labs, presents Finney's security features at the Token Summit III, May 17, 2018, New York City. (Photo by Brady Dale)
The user experience
Sirin Labs has stated from the start that Finney aims to make encryption easier to use.
For example, if users want to use different apps, they should not think about paying in the right form of encryption. Finney was built to convert between different tokens as needed. At launch, it will only convert BTC, ETH and SRN.
When CoinDesk reported for the first time on Finney, the company's plan had been to use the Bancor network to perform the exchange. May says that swapping will now run on Sirin's software.
One of the tokens that runs in the first store will be the token sirin. "The sirin token is designed as a utility token from the start," said May.
Its only utility, for now, is the telephone pre-order. Next, it is designed to run specific features of Finney, such as allowing phone users to sell themselves another moving bandwidth. An upcoming software development kit will allow engineers to brainstorm and advance their peer-to-peer use cases.
As with Bancor, the original plan had been to feed these services with the Iota protocol, as previously reported, but Sirin Labs no longer intends to do so. SRN works on the blockchain ethereum, for now.
Image of Finney's phone courtesy of Sirin Labs
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