To reduce the amount of storage consumed by the blockchain history, the Exodus 1s employs a method called pruning, which significantly reduces the size of the blockchain file.
Chen claims "a really important piece of the pie" will be the phones ability to run a full Bitcoin node.
HTC's Decentralized Chief Officer, Phil Chen, was quoted as calling the original Exodus' performance satisfactory.More news: Sudanese union says six killed in clashes with security forces
Yet, one announcement caught the eye of the tech world exactly one year after HTC smartphone Exodus 1 was first introduced at Consensus: the company is launching Exodus 1S, and the blockchain phone will now feature full Bitcoin node capacity. This may sound somewhat arcane even for cryptocurrency users, the vast majority of whom don't run a full node, but it has important implications for the Bitcoin ecosystem.
"[The 1s is] going to be a lot cheaper, it will be a lot more accessible", he said during the debate, explaining that they estimate the device will cost close to $300.
In April, HTC and Taiwanese manufacturing giant Hon Hai Precision Industry Co. made the 2019 Forbes list of the top 50 companies worldwide that are actively exploring and making use of Blockchain technology to achieve greater efficiency and better customer service. "If you don't own your own keys, you don't own your own bitcoin, you don't own your own crypto", he added. And those numbers are reasonable to hold on a smartphone.
"I think running light nodes, like ethereum for example, is definitely doable, [but] it all depends on the spec", he said.More news: Prince Harry reveals how Meghan Markle is coping as a new mum
The company also plans to focus on public blockchains, which Chen believes are far easier to support than private networks.
HTC said it will be revealing full specifications and other features of the phone in coming weeks.
The Taiwan-based consumer electronics corporation HTC is looking to bring Bitcoin capabilities to more people.
Supporting the Bitcoin (BTC) network may soon be as simple as turning on your phone.More news: SpaceX Starlink satellites shown on a Falcon ready for launch
A Closer Look at the Matter " We want to do something more on the software side.
- Where Harry and Meghan got the inspiration for baby Archie's name
- Schiff: Campaigns Shouldn’t Be Allowed to Get Foreign Help
- United States drugmakers allegedly collude on generic price hikes
- Jonas Brothers mix new hits with throwback 'Burnin' Up' on 'SNL'
- Antoine Griezmann to leave Atletico Madrid
- Meghan celebrates first Mother's Day with Archie on United States date
- Canceled Interviews Led to Trump Jr. Subpoena
- Barr Orders Connecticut Prosecutor to Investigate Mueller Probe
- Robert Kraft's lawyers seek permanent sealing of surveillance videos in prostitution case
- 'Arthur' kicked off 22nd season on PBS with gay wedding