Sirin Labs, based in Switzerland, plans to ship its first smartphone enabled for blockchain on Thursday; the device will offer users a safe way to access cryptocurrency exchanges, store their digital currency offline and exchange encrypted communications with other users.
Announced at the start of this year, Sirin's smartphone will be equipped with an integrated cryptographic portfolio to store bitcoins, Ethereum and other digital tokens, including Sirin's SRN token. The SRN token allows fast payments between blockchain network peers without the need to encrypt the extraction (also known as fiefless blockchain).
Sirin was able to raise over $ 157 million in an initial coin offering for the Android-based Finney smartphone. The company also plans to release a blockchain-enabled PC. Both will run the Sirin open-source operating system, Sirin OS.
Jack Gold, principal analyst at J. Gold Associates, said that blockchain-enabled smartphones target a small market niche in an attempt to differentiate themselves from a crowded smartphone market; they will probably not be profitable.
"The companies that are playing here are hoping that the cryptography market will take off and become a real payment method for the mass market," Gold said via email. "Frankly, I think it's wishful thinking, because I do not see this take off soon.
"There is no doubt that some people are interested in this (the real hypocritical crowd), but that a relatively small number of potential users will not create a profitable short-term market, especially with a $ 1K high-cost device" Gold said.
The Finney smartphone sells for $ 1,000. The Sirin proprietary operating system that runs is a derivative of the Android operating system, which means it offers users an 'Android experience, along with the Play Store and the apps it contains and supports.
"Of course, if you start managing your operating system, even if it is a derivative of Android, what does it mean for app compatibility?" Asked for gold
Finney provides users with a token conversion service, which allows automatic exchange between tokens and coins supported, eliminating the need to visit external exchanges.
Like Sirin's previous Solarin Android smartphone, the Finney phone will be equipped with a physical switch that will immediately disable all unencrypted communications, ensuring that the internal digital archive is inaccessible wirelessly and can function as a "cold wallet" for digital currencies.
The phone also offers encrypted communications, including VoIP, text and e-mail and three-factor authentication: biometric, character blocking and behavior.
The Finney smartphone also offers a decentralized app store that allows users to use DApp, learn about new encryption projects and earn new coins and tokens.
The encrypted and blockchain-enabled smartphone uses a security screen for secure cryptographic transactions on a blockchain ledger.
Sirin's CEO stated that the goal of the blockchain-enabled smartphone is to simplify the use of cryptocurrency and peer-to-peer networks for users. Also the use of an extension of the Android operating system will make it more familiar. "These factors will allow Finny to announce the mass adoption of blockchain technology," the company said.
The Finny has a 6-in. displays with an 18: 9 aspect ratio, an SD card slot and 128 GB of internal memory. The phone has a 12-megapixel main camera on the back and an 8-megapixel front camera.
Sirin not alone
In May, the electronics company based in Taiwan, HTC, also announced that it will release a smartphone with blockchain that allows users to securely store cryptocurrency offline and act as a computing node in a blockchain network.
In October, HTC announced limited pre-orders for the $ 1,000 smartphone Exodus 1. Like Sirin's Finny, Exodus 1 contains a cold storage wallet to hold a cryptocurrency user's private keys separate from the Android operating system.
To address the possibility of losing cryptographic keys, HTC has created a "social key recovery mechanism" that allows users to store key recovery details with "a few trusted friends" who have downloaded an app management app. keys.
If you lose your keys, the key management algorithm will allow you to retrieve the pieces of your keys from friends, which you can then put together. HTC has also invited cryptographers and third-party developers to create their own apps and "enhance the strength of this secure enclave".
"Exodus 1 is a fundamental element of Internet encryption: for digital resources and decentralized apps to reach their potential, we believe that mobile should be the main point of distribution", said Phil Chen, a decentralized chief official of HTC. . "We are not looking forward to collaborating with the developers of the blockchain community to inaugurate this vision."
The Exodus 1 has a 6 inch. touchscreen display, is powered by an octa-core processor and has 6 GB of RAM and 128 GB of internal memory. It has a 12-megapixel primary camera and a 16-megapixel secondary camera on the back. At the front, it has an 8-megapixel primary camera and an 8-megapixel secondary camera.
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