After months of mystery, HTC finally allowed people to order their first blockchain phone in October 2018.
It is billed as a device that combines “the technology and software needed to create a smartphone experience that is suitable for today’s user and the new internet age.”
The blockchain is the perfect way to keep records for financial transactions or cryptocurrencies.
HTC has described its secure enclave as a lockable area on a device protected by the Android operating system and holds the keys to your crypt, whether it’s cryptocurrencies, non-fungible tokens ( NFTs ) or digital data.
Exodus 1 will provide access to mobile applications or open source applications using blockchain technology.
Blockchain is Secure
The blockchain can be considered as a tamper-proof digital book that records cryptocurrency transactions and other data on a distributed network without a central authority.
The new HTC phone will be running decentralized applications, digital programs running on the blockchain.
Blockchain store data on monetary transactions – we have it out of the way.
Blockchain technology can be used to store data on the exchange of real estate, to stop the supply chain and even to vote for a candidate.
By integrating the blockchain with banks, consumers can view their transactions in just 10 minutes, mostly the time it takes to add the blockchain, regardless of the time or day of the week.
Blockchain has the potential to eliminate the need to scan documents and track physical files in a local record office.
Blockchain Phone: A mystery?
The blockchain has gained great popularity in recent years, but the concept of a blockchain phone is still a mystery.
Investors are so concerned about security threats that they would prefer to keep their crypt in a full internet – disconnected portfolio.
And because the blockchains work like online books, tracking each transaction, you can see precisely where each cryptocurrency has been sent.
However, if you are big in cryptocurrency, the idea of owning a blockchain phone would probably be attractive.
Blockchain data cannot be Manipulated
With the blockchain, there is no single, definitive account of the events that can be manipulated.
Although transactions on the blockchain are not entirely anonymous, your data about you is limited to your digital signature or username.
When one person pays another for goods using Bitcoin, computers in the race of the Bitcoin network to check the transaction.
Transactions on the blockchain network are approved by a network of thousands or millions of computers.
For the error to spread to the rest of the blockchain, it would have to be done by at least 51 percent of the network’s computers – an almost impossible task.
Many blockchain networks function as public databases, which means that anyone who has an internet connection can view a list of the transaction history of the network.
Transparency: although the personal data on the blockchain is kept private, the technology itself is almost always open.
Maintaining data in the blockchain also makes it much more difficult to manipulate data.
For example, with millions of computers on the blockchain at any given time, it is unlikely that anyone will make a change without notice.
HTC has made the Exodus 1, a secure blockchain – based phone available for pre-ordering from its website.