Litecoin, the 7th-largest virtual currency by market cap, has received a significant boost, as HTC, the global consumer electronics giant, has hired LTC founder Charlie Lee to be an advisor for its upcoming blockchain-based Exodus smartphone.
Met the HTC Exodus team last week and was really excited to hear the phone will support LTC and Lightning Network on Litecoin natively! I will be an advisor as I see having a secure crypto phone that makes LN simple is needed for mass adoption.
P.S. No, they will not remove BTC. https://t.co/WQcygPVst0
— Charlie Lee [LTC⚡] (@SatoshiLite) July 30, 2018
Scheduled for a release this fall, the Exodus device will serve as a node and has been described by the company as the first smartphone “dedicated to decentralized applications and security.” Reportedly, 100 million have already been manufactured in an attempt to “reshape the Internet” and “make decentralization a reality” by HTC. Every device will feature a cold wallet to ensure the safety of users crypto holdings.
Principles of the HTC Exodus:
1. Hold your own keys
2. Own your identity & data
3. Phone is the hub
— HTC EXODUS (@htcexodus) May 15, 2018
Initially, HTC has announced that it will only be supporting bitcoin and ethereum, however with Mr. Lee joining the project, litecoin and Lightning Network-powered LTC transactions will be supported natively.
Exodus was first announced in May and back then Phil Chen, Chief Crypto Officer at HTC claimed that, “Through the Exodus, we are also excited to be supporting underlying protocols such as Bitcoin, Lightning Networks, Ethereum, Dfinity, and more. We would like to support the entire blockchain ecosystem, and in the next few months we’ll be announcing many more exciting partnerships together. Together, we want to craft the best blockchain & decentralized application experiences to end consumers.“
It seems like this plan is coming to fruition and hopefully we will see more digital assets added to the smartphone. HTC made a curious comparison, saying Exodus is “the Switzerland of protocols”, which will allow for crypto trading among its users.
HTC is not the only company to dip their feet in the blockchain smartphone market. Earlier this year, an Israeli company Sirin Labs has announced a partnership with Foxconn to develop a blockchain phone, dubbed Finney. The new device will allow its users to store digital currencies and make purchases with them as well. It is expected to be shipped this October and will feature an Android-based operational system
Image Source: “Flickr”
I have been following the crypto markets since mid 2017, just in time to witness the incredible surge of the digital asset industry. Fascinated by the potential of blockchain technology I’ve started to dig deeper and that’s how I ended up meeting the Toshi Times team. I hold a Political Science degree, therefore the crypto regulation development is particularly interesting for me. I’m also heavily involved with music, running my own label, a YouTube channel and working with distribution. People call blockchain the ‘Fourth Industrial Revolution’ and I believe it will change our daily lives in the coming years and we will have the front row seats to witness it.