HTC, one of the leading smartphone giants, has recently incorporated Bitcoin Cash into its new smartphone Exodus 1. , makes up to a new way for users to make use of virtual money. The decision can be linked to the increasing number of users using BCH to make transactions, and the company wants to make a secure prophecy of customers siding with Exodus when bitcoin transactions become more prevalent in the industry.
The key feature of the phone is Zion Vault, a digital wallet that works on an easy-to-use application interface embedded into a hardware security system on-board. This digital asset wallet holds potential to facilitate BTC transactions, in order to let users store, and trade BCH with falling prey to remote hacking on their smartphone.
The announcement comes out as a part of the company’s recent ties with Bitcoin.com. The smartphone Exodus 1s that is set to launch later this year is designated to have a similar BCH support for users.
Bitcoin’s CEO, Stefan Rust, said:
There are so many synergies between Bitcoin.com and HTC. We are very excited to be on this incredible journey together.
Bitcoin.com Chairman Roger Ver also said:
Bitcoin.com’s partnership with HTC will enable Bitcoin Cash to be used as a peer to peer electronic cash for the millions of HTC smartphone users around the world.
To comprehend the real motive of HTC’s recent move and to find out why it incorporated bitcoin support, an interview was held with the Phil Chen, firm’s Decentralized Chief Officer.
Explaining the importance of the new partnership, Chen said:
Smartphones are everywhere and have proliferated across the planet. It’s very important for the adoption of crypto that it is easy to store and use, no matter which cryptocurrency is preferred by people. So the fact that BCH, one of the biggest cryptocurrencies, is now easy to use on our smartphone is very important for us. Together, HTC and Bitcoin.com are helping to bring crypto to the masses.
Chen also said that all the private keys along with passwords are kept in a TEE that is stored in users’ Exodus 1 smartphone. A user can always use his private keys. Whereas, HTC and Android could never give such a support
As to why users would need such a smartphone, a developer said it could get difficult to use virtual currency in wallets of cold storage, although they’re even up and tight in security. Moreover, centralized exchanges live can’t offer security and authentic ownership to transactions. Hence HTC found a pertinent balance for uptight security and convenience of use through this initiative. Consumers now don’t need to keep hardware wallets needing Metamask or a browser. Every transaction, along with security is accessible from the Exodus device.