Blockchain, the underlying technology of cryptocurrency has not only impacted the financial world, but it has been instrumental in affecting almost all facet of the human society. Despite the technology still in its nascent stage, it is considered to hold the future of the tech world.
The race to make a statement in the future of world tech has led various firms and countries to adopt the technology for different use.
Mobile telecommunication has seen the dominance of different technologies as its mainstay. In the recent time, there has been ascendancy from Java to Android and iOS for the mobile industry. A movement into the blockchain tech might be on the horizon as HTC plans to debut the first Blockchain phone.
HTC Exodus, the first blockchain technology developed mobile phone is expected to be released by the end of the year. HTC’s decentralized Chief Officer, Phil Chen recently gave hints on the amazing specs of the product and the things it would be addressing.
Notably, among others, the HTC mobile is expected to help keep cryptocurrency safe. Though Phil stated that the ambition of HTC Exodus is beyond storage of cryptocurrency, however, this is noted as the primary concern. Phil pointed out that a few years from now a world where people own their identities and data, and everyone understands the concept and economics of a digital property would emerge.
Meanwhile, HTC Exodus is not to address the problems of smartphones as a means of cryptocurrency storage. Internet connection on smartphones and malware attack makes them dangerous and unsafe for the use of cryptocurrency holders. Keeping cryptocurrency details on smartphones with internet access is like keeping one’s possession on the street, which can be stolen by anyone. The safest option available at the moment is cold storage that holds cryptocurrency holdings offline.
HTC Exodus – Security For Cryptocurrency
HTC Exodus functions not as cold storage for keeping cryptocurrency details and its storage. It supports security by enabling its users to hold their keys. This is done by placing them in a trusted execution environment, an arm of ARM chip known as Trustzone.
Meanwhile, a secure enclave offered by HTC for the blockchain phones is not new as Intel already introduced it for systems and apple also to protect biometric data.
Also, Simha Sethumadhavan, a computer scientist at Columbia University stated that Trustzone has experienced several attacks over the years and had its vulnerabilities.
However, Chen noted that there is nothing like 100% security as the firm aims towards making the device balance between security and usability. And he further noted that hardening the HTC Exodus will require input from cryptographers and the broader cryptocurrency community.
While the HTC Exodus is still nascent, Chen noted that more work and development are underway, as this is considered to be version 1.0.