Mobile manufacturer HTC released a blockchain-based model named “EXODUS” and was endorsed by top cryptocurrency figures such as Vitalik Buterin, Charlie Lee and Changpeng Zhao.
The new device was dubbed by the manufacturer as “the next-generation device that combines the usability of the smartphone and the security of a crypto hardware wallet. The secure all-in-one device revolutionizes how we access Bitcoin and Web 3 – empowering you to buy, sell, send, receive, borrow and lend”.
The latter is the natural evolution of money as it will, in one way or another, become fully digital and what better way to store it than within a device the majority of the population hold onto as tightly as they do to their house keys?
With the assistance of MidasLab and their program DeMiner, the EXODUS phone will become an all-in-one crypto-phone as it would now include the ability to mine coins, in this particular case the privacy coin Monero (XMR).
Decentralisation Chief Officer at HTC, Phil Chen commented: “Mining on mobile is an important research topic in understanding the development of secure crypto networks. The number of mobile phones in 2020 is approaching 3.5 Billion, which would further decentralize and distribute the hash rate and mining power of such crypto networks“.
The barrier of entry and accessibility now available to engage with the cryptocurrency market is becoming more widespread very quickly. This not only can drive an increase in demand and price appreciation for investments but will, most importantly, allow for an open and inclusive economy to exist that will bank the unbanked.
Image ℅ HTC