Sirin Labs, the maker of the gigantic 16,000-dollar Android Solaris smartphone, is building a blockchain phone and has decided to build the new line of devices called " Finney "to work with a private Ethereum blockchain, rather than with IOTA's distributed distribution technology as initially indicated in his white paper.
"We are not working with the IOTA, we have considered the option and decided to follow paths", said Nimrod May, chief marketing officer of Sirin Lab at ETHNews.
"At the time of launch , we will use the Ethereum blockchain.The Finney phone will work through the complete nodes that are hosted on Sirin Labs.
"Our plan since releasing our whitepaper has always been to migrate the SRN token and the Sirin Labs ecosystem to a next-generation blockchain. "
Finney's devices, which will include a smartphone and a PC, will run on Sirin OS's open source operating system Sirin OS.Mirin OS will be designed to support intrinsic blockchain applications such as a cryptocurrency portfolio, access secure to exchange, encrypted communications and a peer-to-peer resource sharing ecosystem for payments and apps, supported by the SRN token
to form an independent blockchain network.
Finney's devices aim to make it easier for people to use cryptocurrencies and related services In April, a subsidiary of Foxconn Technology Group, the world's largest electronics manufacturer, agreed to contribute to the creation of the Finney smartphone Foxconn will produce the Finney devices in its facilities, guiding the original design and production of the phone, while Sirin Labs will say and the development of cold wallet hardware and the Sirin operating system.
The Finney smartphone, which will sell for US $ 1,000, is scheduled to launch and will be available for purchase in November. Sirin Labs plans to sell the device through eight new stores located in locations with the most active crypto communities.
More than 25,000 units have been pre-arranged so far, and the company aims to send 100,000 to a few million units this year. Sirin Labs raised an honest USD 158 million in its ICO in December 2017 to finance the development of its Finney line, plus $ 72 million seed rounds collected in 2016 for the Solarin Android smartphone.
Sirin Labs is competing against a parade of blockchain smartphone rivals that include Zippie and BitVault. Zippie, who raised $ 30 million in his initial coin offering (ICO) in February, was created for a team with previous experience in Nokia and Jolla, a mobile operating systems company. BitVault, developed by the Irish company Embedded Downloads, has already shipped some units for assessments in military applications in Asia.
More recently, HTC has unveiled plans to get on the blockchain bandwagon and in May announced the HTC Exodus blockchain smartphone that it should launch by the end of the year.
The HTC Exodus device will meet the needs of cryptocurrency users. Initially, it will be launched with support for Bitcoin, Ethereum, Dfinity and Lightning Network, but the company said it will ultimately support "the entire blockchain ecosystem". HTC plans to create a native blockchain network with all eExodus phones. Like the Finney smartphone, the HTC Exodus will cost $ 1,000.