Charlie Lee Signs on as Advisor to HTC's Blockchain Smartphone, the 'Exodus'

Taiwanese electronics manufacturing company HTC has announced that Litecoin creator Charlie Lee has signed on as an advisor for the company’s Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based smartphone, the Exodus. Lee later confirmed his support of HTC’s new blockchain device in a tweet.

One small step for @SatoshiLite. One giant leap for blockchain.

Team @HTCExodus, @philchen913 @htc are honored to have Charlie Lee to join as our advisor. cc @litecoin @LTCFoundation @LitecoinProject #LetMyDataGo https://t.co/JWGI4b8yH0 — HTC Exodus (@htcexodus) July 30, 2018

The tweet also revealed that the Exodus would come with native support of the Lightning Network and Litecoin.

The Exodus is scheduled to be released sometime during Q3 of this year. Phil Chen, HTC’s head of business and corporate development, said that the cost of the Exodus would be comparable to the ~$1000 Finney blockchain phone. The Finney, a product of Sirin Labs, is slated for release around the same time.

Each of the smartphones will function as a node on a blockchain built by HTC; in this way, users will be able to securely store and update their data in the device and on the blockchain simultaneously. Each phone will also come with a built-in Cold Storage Cold Storage Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Read this Term wallet.

Additionally, HTC has partnered with CryptoKitties, an Ethereum-based game that will be available on the Exodus.

Critics Wonder if the Exodus Will Arrive On Time

There are still some doubts about whether HTC’s blockchain phone will be on the shelves as soon as the company has said that it will be. Very few details are known about exactly where the phone will be sold or marketed to. As far as the phone’s design is concerned, the public has only seen a sketch.

By contrast, the development of the Sirin Finney has been highly transparent. Sirin announced in April that Foxconn would be the phone’s manufacturer.

Love #Crypto but troubled about security & user experience? You need a FINNEY-- the #blockchain smartphone with #coldstorage wallet and a second Safe Screen. #SRN #ETH #BTC #mobiletech #blockchaintechnology #ThatSecondScreenTho pic.twitter.com/z2gzWEczgO

— SIRIN LABS (Not giving away ETH) (@SIRINLABS) July 19, 2018

The Finney will also have a cold storage wallet, and will come equipped with a ‘Safe Screen,’ “a standalone screen that functions on dedicated firmware and will be able to independently verify that Finney™ wallet transactions are being sent to the correct addresses.”

Despite the lack of transparency surrounding the Exodus, Lee’s announcement will certainly do positive things for the project’s future.