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Blockchain technology has advanced and evolved to bring about many opportunities for healthcare, finance, the Internet of Things, supply chain, entertainment, etc. The Internet of Things(IoT) is growing as people adopt the idea of interconnected devices to transfer and share data easily. This sector has grown to be inclusive of blockchain smartphones. Smartphones have become part and parcel of our everyday lives. In fact, according to Statista data, about six billion of the world's population currently uses smartphones. Due to the increasing smartphone demand, companies are constantly launching new products and marketing their existing ones to counter the competition from other manufacturers. Today, smartphones can do almost anything, and it was inevitable that blockchain and cryptocurrency applications found their way into these devices.
What is a Blockchain Smartphone?
A blockchain smartphone is a device specifically created to ensure cryptocurrencies' safe storage and transfer. With blockchain smartphones, holders can protect their crypto with an in-built hardware wallet. This wallet works similarly to an offline digital safe, which means that it can store and retrieve private information. Despite the relatively insignificant importance of this other issue, data privacy is still an essential issue in today's society. With blockchain technology, it's our best hope to address this issue. With hardware wallets, users can keep their private information private and prevent it from being stolen. They can also store passwords and other sensitive data and come with installed dApps(decentralized applications). The main purpose of having such properties is to improve usability and security for holders.
Best Blockchain Phones
1. HTC Exodus
The HTC Exodus 1 was released in 2018. It was one of the first smartphones to feature a dedicated crypto wallet. On the phone, holders can store various cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. It comes with an embedded wallet known as Zion, a private vault. It features a variety of security features. One of the most prominent features of this wallet is its Trusted Execution Environment(TEE), which is a secure execution environment. This move ensures that the funds and private keys in the wallet are safe.
2. Sirin Labs' Finney Phone
Swiss company Sirin Labs created the Finney Phone, a blockchain smartphone. The company's first phone was Solarin which they named a luxury phone having the "world's best" security. The Finney is an ultra-secure digital cold storage that can store sensitive data. It also allows users to exchange various types of crypto coins. The founder firm also rewards users interested in blockchain projects by giving them rewards for their time spent researching various cryptocurrencies. Various decentralized applications provide multiple services and products. Further, to safeguard the wallet, a physical security switch is available. The Finney allows encrypted peer-to-peer calls, dismisses third-party intrusion, and has a safe emailing feature.
3. XPhone from PundiX
XPhone's features are divided into Android applications and blockchain services. It can work seamlessly in blockchain mode without relying on the services of mobile operators. Yet, it can still switch back to normal mode in just a click and function like your standard smartphone. To start using blockchain mode, the user must first create a node and configure it. This process can be very time-consuming and challenging for most ordinary consumers. However, once it is set up, there is no need to go back and repeat the process. The team at Pundi X is focused on developing an ecosystem of blockchain devices that other manufacturers can use through partnerships. They will provide the software and specifications and outsource device development functions to third parties.
4, Electroneum M1
This one right here is more of an experiment of sorts. The smartphone is an Android device for $80, with the main feature being cloud mining "out of the box." The device allows you to connect to the blockchain and mine its crypto. As a result, the user is rewarded with around $3 per month. The smartphone also features a crypto wallet for ETN, the native crypto. In addition, holders have access to fast token transfer on the platform.
5. Samsung S10
Although it doesn't have a built-in blockchain, Samsung Galaxy S10 is equipped with various other features. This Samsung's new flagship phone has a built-in cryptocurrency wallet, the Blockchain Keystore, and private keys storage, Samsung Knox. In 2019, Samsung added support for over 30 cryptocurrencies in its wallet. In addition, the company released a new variant of the Galaxy Note 10, "KlatynPhone." It featured the company's Knox application and its cryptocurrency wallet. The new model also came with a built-in blockchain, later integrated into the Galaxy S20.
Where Blockchain Smartphones are Headed?
Blockchain technology is growing slowly but for sure going mainstream. With this technology, users can control how their data is used and stored online. Its anti-theft capabilities could allow people to use their phone's data to access it if it gets stolen. If a user loses their device, they can easily blacklist its International station Equipment Identity number (IMEI). This process prevents unauthorized access to their personal information. According to blockchain supporters, the rise of smartphones and tablets will lead to the formation of a decentralized web. This Web 3.0 technology will allow developers to create applications on public networks instead of private servers. In the future, we could see more of these advancements.