It's an abstract concept, but essentially, cryptocurrency is made possible due blockchain technology. The handset is designed for a cryptocurrency future, built with a secure hardware enclave and a universal wallet.
Introduced and led by Phil Chen, a co-founder of HTC Vive, the Exodus is meant to be the "world's first phone dedicated to decentralized applications and security".
Unlike usual ledgers, however, a blockchain record is stored across millions of devices instead of one central location. Blockchain and cryptocurrency are becoming big topics these days, with many anxious that the traditional currencies might be worthless in a few years. Well, everyone has a copy of the information. Chen said that he believes that a blockchain-powered smartphone might inspire a new wave of decentralized systems, in the same way that the availability of computers once paved the way for the makings of the internet. According to The Next Web, HTC has also outlined plans to create a native blockchain network, whereby cryptocurrency can be traded amongst Exodus users.
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The unique selling point of a blockchain smartphone is that it supposedly offers better security and an improved user experience by integrating cold wallet storage right into the device, and enabling direct trading of the native cryptocurrency with peers without mining fees.
Details, including price, are now scant. The phone is able to log to the blockchain with different protocols to work with different services. Sirin Labs announced a $999 Dollars blockchain phone previous year, a device reportedly being made by Foxconn.
It will be interesting to see how these devices play out.
These phones will act as nodes on the network and will enable trading of cryptocurrency among the Exodus users.