HTC has recently announced that it will be rolling out support for Bitcoin Cash (BCH) to its Exodus 1 blockchain phone. This is to be done as part of the technology firm’s partnership with cryptocurrency exchange Bitcoin.com.
BCH is currently one of the top 5 cryptocurrencies in terms of market capitalisation. How can it now be managed through this phone and what other advances can we expect to see in the future?
How Will It Work?
Bitcoin.com’s wallet will be rolled out to existing phones with the phone’s next software update. New phones will have the software pre-installed on them. As part of the agreement, Bitcoin.com will also start to sell the Exodus phone and future models from HTC, at a discounted price.
This promises to be an improvement on the service currently offered by the HTC blockchain phone. It was launched in 2018 with the ability to handle only Bitcoin (BTC) and Ethereum (ETH). Since then, the software has been updated regularly.
HTC’s Chief decentralization officer Phil Chen pointed out that “security goes hand-in-hand in the BCH blockchain”. With this phone upgrade, the Zion Vault wallet is used to allow more secure signing off on Bitcoin Cash transactions. It also gives users the ability to directly swap digital currencies.
Bitcoin.com CEO Stefan Rust stated that there are “so many synergies between Bitcoin.com and HTC.”
In practical terms, all of the user’s private keys and passwords will be stored on the phone. Because of this, access to their wallet and the money in it is always available. This approach provides a balanced combination of security and convenience.
What Blockchain Phone Will Be Released Next?
HTC already has plans for a second generation of blockchain phones to be released. The Exodus 1s is set to be unveiled at a lower price than the current Exodus 1 phone. The launch of the new model is to take place later in 2019, although no exact date has been mentioned yet.
The full details of this new model’s specifications haven’t yet been released. However, it has been mentioned that the 1s will be the first ever smartphone with full node capabilities.
The HTC Exodus 1 is widely regarded as being one of the best blockchain phone models on the market just now. It seems likely that more models of this type appear in the future, as more people look for the convenience of managing their digital money wherever they go.
The easier it becomes for people to use cryptocurrencies, the more popular they should become. Therefore, the appeal of this kind of smartphone should continue to grow. This, in turn, is expected to lead to a greater demand for phones with crypto capabilities like this.