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Electronics Giant Allows Crypto Users to Store and Send Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), and Swap 60+ ERC Tokens on New Smartphone


dailyhodl.com 2019-05-15 04:31
Reading time: ~2 m

 

Taiwanese electronics giant HTC has just revealed the latest blockchain functionality for its Exodus 1. The new smartphone allows crypto enthusiasts to swap 60+ major ERC20 tokens including Kyber Network (KNC), Basic Attention Token (BAT) and stablecoin DAI directly on the phone.

The Exodus 1 is a groundbreaking web 3.0 blockchain phone. It allows users to perform crypto transactions, view and manage cryptocurrencies and collectibles, and maintain ownership of their private keys. Users can store, send, and request Bitcoin, Ethereum, Litecoin, selected ERC20 tokens and ERC-721 collectibles. They can also access decentralized application on the smartphone via the Opera crypto browser.

The smartphone comes with a built-in wallet that is now integrated with Kyber Network’s liquidity protocol, effectively eliminating the need for crypto traders to use a third-party exchange to swap tokens.

HTC announced the upcoming release of the HTC Exodus 1s – a less expensive version of its flagship blockchain smartphone – at the Magical Crypto conference in New York on Saturday. The new model continues the company’s mainstream push for crypto into the hands of tech savvy, mobile Millennials by integrating a full Bitcoin node.

According to HTC’s decentralized chief officer Phil Chen,

“The Bitcoin blockchain is about 200 [gigabytes], and it’s growing about 60 gigs per year. And those numbers are reasonable to hold on a smartphone. Imagine the iPod with 256 gigs … of course the music fan wants to keep the whole music library but the crypto fan wants to keep the whole Bitcoin blockchain.”

HTC says it will release further details on exact specifications and cost of the new model over the coming months. Says Chen,

“Full nodes are the most important ingredient in the resilience of the Bitcoin network and we have lowered the barrier to entry for any person to run a node … participating in a global Bitcoin network that propagates transactions and blocks everywhere.”

Founded in 1997, Taipei-based HTC reported $761.4 million (TWD 23.7 billion) in revenue in 2018. After selling a team of its smartphone engineers to Google for $1.1 billion in 2017, and following a quarterly net loss of $337 million that same year due to increasing market competition, the company says it has moved further into emerging technologies with growth potential including blockchain and cryptocurrencies, IoT and virtual reality.

 
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