HTC Exodus 1 Offers In-Built Bitcoin Cash Wallet Named Zion Vault
As HTC brings indigenous BCH support to its Exodus 1 smartphone, the Bitcoin cash fraternity now has a different method to safeguard and transact its digital currency.
One of the main reasons for the technology company to do so is because several customers use BCH as a method of settlement and HTC intends to see a scenario where dealers use the Exodus to collect BCH payments.
Taiwanese consumer digital goods company High Tech Computer Corporation or HTC (TWSE: 2498) has introduced indigenous bitcoin cash wallet to its blockchain smartphone Exodus 1.
Zion Vault, a digital currency wallet with a simple-to-use software interface linked with smartphone’s hardware protection module, is the standout feature of the smartphone for cryptocurrency customers.
This safe integrated wallet can now handle BCH related operations, so consumers can readily purchase, collect, deposit and shop using BCH on the mobile without the danger of far-flung hacking. As an aspect of a unique collaboration with Bitcoin.com, HTC announced assistance for BCH, which involves pre-loading the company’s iconic wallet application on Exodus 1.
In addition, Bitcoin.com will also make the smartphone and also the upcoming cheaper-priced phone HTC Exodus 1s available for purchase on online store. When it gets launched this year, the Exodus 1s will carry the same indigenous BCH capabilities accessible by Exodus 1 customers.
Regarding the partnership, Bitcoin.com CEO Stefan Rust said “There are so many synergies between Bitcoin.com and HTC. We are very excited to be on this incredible journey together.”
Bitcoin.com Executive Chairman Roger Ver also gave his opinion about the partnership: “Bitcoin.com’s partnership with HTC will enable Bitcoin Cash to be used as peer to peer electronic cash for the millions of HTC smartphone users around the world.”
HTC’s Decentralized Chief Officer Phil Chen explained the significance of the new partnership, Chen said: “Smartphones are everywhere and have proliferated across the planet. It’s very important for the adoption of crypto that it is easy to store and use, no matter which cryptocurrency is preferred by people. So the fact that BCH, one of the biggest cryptocurrencies, is now easy to use on our smartphone is very important for us. Together, HTC and Bitcoin.com are helping to bring crypto to the masses.”
He further stated that HTC developed the Exodus 1 to push the effort to a completely decentralized internet where consumers have complete power over their information and resources. “The first step is to allow the crypto community to hold their own keys; this will be a learning curve for many. So the crypto community is so important as we look to the mass adoption of both decentralized devices and crypto/blockchain in general.”
The Decentralized Chief Officer of the company clarified that to accomplish this, HTC had created the Zion Vault. It is a safe all-in – one vault that enables customers to maintain their own keys and work via a highly safe and Trusted Executive Environment (TEE), but also the capacity to transact comfortably with those buttons.
Chen said “All keys and passcodes are stored in TEE directly in users’ Exodus 1 device. The user will always own their own keys. HTC or the Android OS will never have custody. Operating independently of the Android OS, the vault will protect the entrusted crypto-keys with stringent security. When authorizing your BCH transactions, Zion Trusted UI will create a safe zone through Trusted Executive Environments (TEE) that blocks possible malware attacks. Zion does not record any user information at any stage.”
HTC considers crypto as a fresh narrative for consumer electronics after smart phones saw a new high in terms of worldwide gadget development and innovation.
Chen explained the need for total ownership of user keys and the features that can be anticipated in the upcoming smart phone:
“Only when users have full ownership of their own keys can we enact true decentralization, which is a vital first step toward protecting users. We see this as a stepping stone to how people will carry their own digital assets and digital identities in their pockets, in the very way we carry phones today. That’s another industry first and we also expect more of this innovation as it is the only truly trustless way to transact using your crypto assets.”
Future ideas include granting unique discounts when shopping for BCH products, and selling potential Exodus devices on store.Bitcoin.com, with additional partnerships to be announced in appropriate time.