HTC Expected to Launch Blockchain-powered Smartphone on October 22

On Oct. 13, HTC officially announced that it will release its first blockchain-powered smartphone HTC Exodus on Oct. 22, with details yet unrevealed.

As written on the official website of HTC Exodus, “With over two decades of experience manufacturing the world’s leading smartphones, and shipping over 100 million phones, we believe we can help reshape the Internet with the HTC Exodus. Join us and together we will make decentralization a reality.”

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It is reported that HTC Exodus integrates blockchain and decentralization technology into smartphones and has adopted the technology of Social Key Recovery. Users can hand over the keys to several friends and relatives separately for safe keeping, and one doesn’t have to worry about the loss of his digital assets if the phone is lost.

According to the forum of HTC Exodus, the Social Key Recovery technology is originated from the algorithm of Shamir’s Secret Sharing invented by world’s renowned Israeli cryptographer Adi Shamir. The algorithm can disassemble a series of complicated messages into different blocks. And just like completing a puzzle, you can put all the pieces together to obtain the whole message again.

As reported by the Verge three months ago, launching the blockchain smartphone Exodus is a risky move for HTC, since blockchain and cryptocurrency are still at an early stage of development. However HTC is desperate for the success of this phone to lead the company out of its financial adversity.