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Nothing has signaled that we have finally entered the cyber-future more than the increase in networks of blockchain and cryptocurrency. And this makes HTC the upcoming blockchain-based smartphone, the HTC Exodus 1, one of the most cyberpunk (and weird) devices yet.
As with most things related to blockchain and cryptography, it may be difficult to have an idea of what Exodus 1 actually is and what makes it different from all the other smartphones you can buy. So, we've put together this guide to teach you more about Exodus 1, including why you want (or do not want) one and how to get it.
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What is HTC Exodus 1?
HTC Exodus 1 is a smartphone powered by blockchain that also serves as a digital wallet of cryptocurrency and security safe. It was conceived and designed by Phil Chen, HTC's "Decentralized Chief Executive Officer". Chen was also in the development team that created HTC's Vive VR headset.
On paper, the HTC One Exodus 1 looks similar to other manufacturers' flagship phones. Here are its general specifications:
- Display: 6-inch IPS LCD display, 1440 × 3120 resolution
- duration: IP68 dustproof and waterproof
- chipset: Qualcomm Snapdragon 845
- OS: Android 8.1
- Memory and memory: 6 GB of RAM, 128 GB internal memory (not expandable)
- Battery: Battery 3500 mAh, USB charging type C, support for quick charge
- Camera: 16-MP and 12-MP main camera, dual 8 MP camera
- Connectivity: 4G LTE, Bluetooth 5.0, Wi-Fi 802.11 a / b / g / n / ac, dual-band, WiFi Direct, hotspot
- Headphone jack: Yup
With most measures, those are typically the most important specifications. Obviously, the real strength of Exodus 1 is its blockchain integration and also serves as a hardware portfolio for your digital cryptocurrencies.
Each Exodus 1 is a node in the blockchain network of HTC and the smartphone runs open source app, based on blockcha known as dApp (pronounced "dee-apps") to process transactions. Every user within the network will be able to exchange cryptocurrency with each other, their devices acting as portfolios for their digital currencies. This, of course, raises some questions about security.
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How does HTC Exodus 1 protect my cryptocurrency?
To keep your cryptocurrency secure, HTC has implemented TrustZone "Secure Enclave" on Exodus 1, something you will not find on your regular Android phone. TrustZone is basically a mini hardware-based operating system that works like a digital bank vault, helping you manage your crypto resources and processes and running in parallel with your phone's Android 8.1 operating system. All data protected by TrustZone is separated from and unreadable to the rest of the phone, including the Android operating system and anything that is done on it.
Users of Exodus 1 manage their cryptocurrencies via the Zion cryptographic portfolio, which securely stores Bitcoin and Ethereum through a decentralized network. The wallet can also be used to make payments in apps with Zion integration (HTC has released Zion SDKs and key management APIs for developers who want to integrate Zion payment support into their apps).
This security method differs from what is known as "cold storage", the method of storing offline cryptocurrency in which the keys are stored directly on a device, just like the next phone of Finin Blockchain by Sirin Lab. cold is ultimately safer by hackers, it's not without risk, since losing or damaging the phone would mean losing access to cryptographic keys forever.
If you lose your Exodus phone, on the other hand, you will be able to regain access to your Zion wallet using Social Key Recovery or "code sharding". It works in a similar way to the account recovery system recently implemented by Facebook: select up to five contacts to which a part (or "fragment") of a code is sent that can be used to access an account again stuck. Be careful, though. The selected contacts will need to download an app and, if they lose access to their device or part of the code, they will no longer be able to access their wallet again.
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HTC is pushing for a decentralized future
The name Exodus 1 is suitable, as the device is part of the larger blockchain project to decentralize digital information and data in general, giving people control over their data and introducing transparency on various financial systems and markets. As this quote from the design principles of Exodus 1 explains: "We believe we can rebuild the Internet together by empowering people to own their identities, personal data and resources".
It has also been suggested that accounting and the calculation of blockchain, open source and decentralized, can be used for everything from voting and health documents to the most demanding IT processes such as graphic rendering.
After Exodus 1, Chen hopes to offer cheaper encryption for unmatched people with fewer staff around the world. These are people who have limited access to secure and affordable banks, regardless of where they live, their economic status or other factors. Almost 19 percent of Americans are underpaid, while 6.5 percent is not rented, while worldwide it is estimated that about 20 percent of the world's population is without money. For this reason, even the UN expressed interest in Chen's project.
Before this can happen, cryptocurrencies must overcome their many obstacles, including their niche status; prohibitively long transaction times; high computing power requirements; and values that change wildly, sometimes floating hundreds of dollars or more in minutes.
Furthermore, while Bitcoin, Ethereum and a handful of other cryptocurrencies may be legitimate, there are endless junk currencies and definitive scams that try to exploit the "rapidly enriching" interest of technology. Apple has banned encryption apps from the iOS App Store, while Google prohibits mining extensions on Google Chrome to block developers that move background extraction into their software.
Having said this, Exodus 1 and his contemporaries affirm that cryptocurrencies might see a broader adoption as more devices are released as they are, eventually introducing the decentralization revolution that Chen and others evangelize.
How to buy HTC Exodus 1
You can order Exodus 1 if you live in the United States, the United Kingdom, Hong Kong, Singapore or one of the other 30 countries supported by HTC through the Early Access program, although limited quantities are available. The phone should be officially launched (and early access orders will start shipping) starting this month.
As for the price, HTC Exodus 1 will cost BTC (Bitcoin) 0.15 or ETH (Ethereum) 4.78 (approximately $ 1,000 USD). But as discussed above, the value of cryptocurrency fluctuates wildly: the bitcoin 0.15 converts to about $ 575.71 USD based on the current value at the time I write and who knows what could be in a week.
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So, should you buy one?
Despite the tempting premise and cool and radical ethics of Cyberpunk, Exodus 1 is still very much a "beta" product, a fact also for Chen. It will take time, iteration and cooperation with developers and users to reach the decentralized future that HTC expects. As such, Exodus 1 is marketed directly at the crypto-aficionados. If you adapt to this description and have not already lost your fortune in the feverish markets of cryptocurrency, it is worthwhile to try Exodus 1.
However, if you are simply curious about cryptocurrencies like Bitcoin and Etherium, or if you want to start mining, we suggest you stick to Exodus 1. There are ways to start exploring and investing in cryptocurrencies right away that do not require Buying a specialized smartphone And if you're looking for a new phone, there are many others out there with identical or better specifications for the HTC-1 that you can purchase without needing $ 1,000 of cryptocurrency to your first name place.
