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The mobile phone manufacturer HTC wants to let its smartphone customers connect to the bitcoin blockchain.
Phil Chen, of HTC, announced Saturday that a new economical version of his chain phone, the EXODUS 1, announced that the device would be able to function as a complete node of the bitcoin network as customers will store the All the blockchain data on their devices.
The company will also provide a software development kit (SDK) available for Zion Vault, HTC's crypto-wallet application, and plans to eventually exploit the code behind its social key recovery mechanism.
Phil Chen, the decentralized CEO of HTC, told CoinDesk that the company was aiming for an exit by the end of the third quarter.
"[The 1s is] will be much cheaper, it will be much more accessible, "he said. The device will cost between $ 250 and $ 300.
Specifications are not yet published for the device.
The 1 will be based on the HTC EXODUS 1, announced at the CoinDesk Consensus 2018 and released later in the year. While customers could not initially buy the device with crypto, HTC opened the cash payment options in February.
Full node
The most striking promise of the 1 will be its ability to execute a complete bitcoin node. Chen explained that the company considered this as "a very important piece of pie" for the bitcoin ecosystem.
"We think it's the basis of all the decentralized internet and all of its fundamental principle," he said. "If you do not have your keys, you do not have your bitcoin, you do not have your crypto."
EXODUS 1 was designed to allow users to keep their own private keys, which was then used as the basis for the next move, Chen said.
He thinks that, from a technological point of view, smartphones are now physically able to handle this effort, noting that computer chips and storage media are becoming cheaper and more and more expensive. effective.
"We hope the phones will be powerful enough," he said, adding:
"The bitcoin blockchain is around 200 [gigabytes], and that's about 60 concerts a year. And these numbers are reasonable to keep on a smartphone. Imagine the iPod with 256 gigs … Of course, the music fan wants to keep the entire music library, but the crypto fan wants to keep all the bitchain blockchain. "
By allowing users to run complete nodes, HTC gives them the ability to verify the data themselves, he said.
"[You can] participate in the bitcoin revolution by contributing to the security of the entire network, "said Chen.
That being said, EXODUS 1 will still be able to handle normal smartphone operations, with room for music, videos, images, applications and applications.
Other blockchains?
HTC plans to support the bitcoin blockchain at launch, but Chen has not ruled out adding support for other networks. The main considerations include the amount of memory and bandwidth required by other networks, he explained.
"I think that making nodes of light, like Ethereum for example, is definitely feasible, [but] it all depends on the specifications, "he said.
The company also plans to focus on public blockchains, which Chen says is much easier to manage than private networks. That said, HTC does not plan to explicitly add support for other networks yet.
"I consider bitcoin to be one of the most important blockchains, if not the most important," he said. "We absolutely want to support that first and considering what Bitcoin stands for, open, neutral, censorship resistance."
He also noted that bitcoin is "the most tested network" and that it was at least a bit symbolic to support it.
Once HTC is able to launch the 1, Chen expects his team can apply the experience of supporting a Bitcoin node to other networks.
Ecosystem construction
Its new 1S is the goal of HTC, which is to contribute to the ecosystem of crypto at large.
Demand from EXODUS has been "in line" with HTC's expectations, Chen said. However, the company is still seeking feedback from the community. To this end, HTC is releasing its Zion Vault SDK for developers and is considering making its social key retrieval mechanism available for other portfolios (although there is no set schedule for this last part).
The company also continues to support its existing product EXODUS 1, adding an Etherscan widget allowing customers to explore the Ethereum blockchain and support other non-fungible tokens.
Chen said the company would continue to develop products for the line, targeting a user-centric experience.
"I think people who really care about the blockchain's public space see the role we play in this ecosystem. We have received a lot of support from the developers and we are very convinced of the developer empowerment, "he said.
Image via Magical Crypto Conference
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