HTC unveiled its flagship blockchain-focused smartphone on Tuesday, the Exodus 1, as the struggling any looks to shift its strategy to focus on brand-new technology.
The Taiwanese phone maker said of which developed its own cryptocurrency wallet called Zion to make its brand-new phone function as a hardware cryptocurrency wallet.
The Exodus 1 comes which has a secure enclave — a secluded area on the phone’s chip kept separate by the Android operating system (OS) of which runs on — of which uses technology made by SoftBank’s Arm Holdings to keep a customer’s cryptocurrency safe.
“Think of of which as a micro OS of which runs in parallel with Android,” Phil Chen, HTC’s decentralized chief officer, told CNBC over the phone. “of which basically is usually a wallet, nevertheless the wallet, what of which does is usually hold your private keys.” Private keys are lines of code which are meant to be known only to the owner of a cryptocurrency to allow them access to their funds.
Chen said the benefit of keeping This kind of area of the phone separate by Android was of which Google’s OS is usually “fundamentally insecure which has a centralized system,” in addition to therefore storing cryptocurrency using Android would likely make a user’s funds more vulnerable to a hack.
He said the significance of integrating blockchain technology from the phone is usually of which of which bolsters the security in addition to privacy of a user’s assets, in addition to will from the future help with protecting a customer’s data in addition to identity. Blockchain can be thought of as a tamper-proof digital ledger of which records cryptocurrency transactions in addition to additional data across a distributed network with no central authority overseeing of which.
“The dominant companies in our world today are Google in addition to Facebook, in addition to in China, Baidu, Alibaba in addition to Tencent, because they basically own all our data,” Chen said.