Taiwanese firm HTC has launched a cheaper version of its blockchain-enabled smartphone Exodus 1, the Exodus 1s.
At the time of its release, Exodus 1 was priced at $ 1,899 through the company later managed to bring it down to $699.
Exodus 1s would be available for $244.
Exodus 1s will allow customers to trade in Cryptocurrency. This will enable a user to buy, sell digital money while going about their daily work.
Further, Phil Chen, HTC’s decentralized chief officer, says,
(digital wallets on the phone can) calculate the user’s balance and ensure that future transactions are verified, further ensuring that the balance is actually owned by the spender.
If customers pay extra for a 400 GB memory card, which will store the bitcoin blockchain on the phone, they can verify their transactions on the bitcoin network. What this will do is that the user’s digital wallet can verify all transactions and check whether the user has sufficient balance to make the purchases or not. The transaction time on the bitcoin network is 10 minutes. Thus, if a user purchases something without sufficient Crypto balance, he will come to know of it only after 10 minutes. With Exodus 1s, the phone itself will verify both the wallet’s balance as well as verify the transaction on the bitcoin network. Thus, ensuring that the user has sufficient balance to make the payment. This will alert the user of insufficient balance immediately so that he can take remedial action.
With Exodus 1s, HTC is making blockchain technology available to the masses. With Cryptocurrency trading allowed on the smartphone, it will be hoping that, just like in the stock markets, ordinary people will be attracted to Crypto exchanges. This will increase the masses knowledge about Cryptocurrency. Once common people become comfortable with digital money, they may even start paying for routine services like a meal in a restaurant, in Cryptocurrency.