Cryptocurrency exchange Binance and electronics company HTC have announced a crypto smartphone. A special version of the HTC Exodus 1 is completely integrated into the crypto services from Binance. This means that users can for example trade directly on the decentralized Binance exchange. The two companies announced to collaboration on Tuesday.
The HTC Exodus 1: Binance Edition is the first phone in the world that supports Binance Chain natively. In addition the phone allows users to trade on the Binance DEX directly and on-the-go, without the need for extra hardware. The newly announced smartphone also has a special Binance-themed wallpaper and back phone cover, both designed by Binance.
The phone will soon go on sale on the HTC website for 599 dollars. The first 500 buyers will get 100 dollars back in Binance’s native token BNB. Even though ‘Limited Edition’ mentioned all over the press release, none of the companies mention anything about the number of available phones.
“Binance is one of those fearless companies that challenge traditional financial systems and how things are done. Their vision of borderless finance is a cause that Exodus also aspires to.”Phil Chen, Decentralized Chief Officer of HTC – press release November 12th 2019
HTC Exodus 1 versus S1
HTC has created two different crypto phones. Last year the company released the HTC Exodus 1, which is currently being sold for approximately 600 euro. The electronics company released a less powerful version of this phone last month, called the Exodus 1S. This phone only costs 219 euro. Both phones will be capable of running a node in the Bitcoin network. HTC did advice users to keep their S1 phone connected to a power supply and a wifi connection, if they run a Bitcoin node. Apparently it’s a battery drainer and it can use a lot of mobile data.
Binance’s collaboration with HTC is aimed at the upper class market. It’s a phone that has a 3500 mAh battery, dual cam on both sides of the phone with the back camera supporting a 12MP and 16MP camera, video support for 4K and 60 frames per second, 6GB DDR4 RAM, 4G LTE support, etc.
More phones moving into crypto
HTC now has three crypto-friendly phones on the market. The Exodus 1S is very cheap compared with other new smartphones, even though it’s more focused on cryptocurrency fanatics than people with an high-end taste. Samsung’s Galaxy S10 is another crypto-friendly smartphone for the high-end market. This phone has its own internet wallets and supports decentralized apps. Interestingly Samsung made a partnership with a South Korean blockchain company just two months ago.
These companies are among the first on the market, but they are getting more competition. Allegedly LG is working on a blockchain phone, while blockchain startup Pundi Labs is building a phone that can even circumvent telecom providers by transmitting calls over a blockchain. It’s likely that brands like Huawei, Oppo, Xiaomi, Lenovo and OnePlus are working on something similar as well. Huawei even signed a deal with the Chinese central bank.
At the same time China Telecom has high expectation for the future of mobile phones. According to them the roll out of 5G internet will change everything. Phones can be connected to a blockchain that is build for this type of internet. Theoretically it will be possible for 5G phones to contribute to a blockchain network, just like the Exodus S1 does to the Bitcoin network.
Also published on Medium.