On October 19 (Saturday), it has been revealed at the Lightning Conference in Berlin that the company claimed the new product is the first smartphone to be able to run a full bitcoin node, allowing it to propagate transactions and blocks anywhere.
“Full nodes are the most important ingredient in the resilience of the Bitcoin network and we have lowered the barrier to entry for any person to run a node.” Phil Chen
The new smartphone comes to the market at a price of €219 ($244), which is about a third of the cost of its predecessor, the Exodus 1. HTC is going to sell the new version at the Berlin conference by using the Lightening payment network.
So, according to Blockchain, the device allows users to install a 400+GB SD card to expand its memory, allowing it to cope with the increasing data capacity required to store the full bitcoin ledger. The current size of the full ledger is closing on 250 GB.
However, the company recommended users to connect to Wi-Fi and plug into a power source while running the full node, though it can also be used on the go.
The smartphone also has a built-in hardware wallet to help users securely store cryptocurrencies. By default, it comes with 4 GB of RAM and 63 GB of storage and runs on Android Oreo 8.1.
“We are providing the tools for access to universal basic finance; the tools to have a metaphorical Swiss bank in your pocket.” Phil Chen
The smartphone will be available in 27 countries across Europe and the Middle East, including Germany, Greece, Saudi Arabia, and the UAE. It is currently not planned for sale in the U.S.
Likewise, HTC’s device is joining a nascent but increasingly busy field of blockchain-dedicated smartphones. Sirin Labs, the Blockchain startup, has recently teamed up with Foxconn, the electronics manufacturing giant, to launch Finney, the blockchain mobile phone; while Samsung launched its Galaxy S10 in the spring. Others such as LG are rumored to be moving into the blockchain space with upcoming devices.
Outside of buying and selling cryptos, smartphone markers are increasingly eyeing blockchain technologies as a way to reassure users concerned about the security of their private information.
Thus, Chen said:
“We really care about this portable identity and users owning their identity and data, and we believe that the phone is the best place to do that.” Phil Chen