Smartphones have become indispensable tools that we use for an incredible array of different things. They are highly advanced machines that are capable of so much, and they continue to improve and develop as the technology advances.
The crypto industry is booming, according to data on Binance. While you might assume that there isn’t much overlap between smartphone tech and blockchain tech, that isn’t strictly the case. Read on to find out more.
Blockchain Ready Smartphones
In recent years, we’ve seen a number of smartphone devices released that have blockchain technology as a key feature. What exactly does this mean? On the surface, blockchain and smartphone tech seem very different, but there are ways in which the two can work together to offer users more options, features and functionality.
The blockchain is the platform upon which Web3 is being built, with digital ecosystems like the metaverse only possible on these sophisticated networks. Blockchain phones come with Web3 connectivity. They allow for access to decentralised apps (dApps) which are built on the blockchain and use intuitive interface design to make accessing and using these apps as easy as possible.
Blockchain and cryptocurrency might be two different things, but they are very closely related and there is a lot of overlap. Some phones have been designed with cryptocurrency in mind. These come equipped with crypto wallets, which are digital storage spaces where crypto can be kept securely and transferred in and out of.
Some crypto phones also come with natively-built access to exchanges, marketplaces and brokerages. This means users can quickly and easily head to an exchange to buy, sell or trade their digital crypto assets.
In the examples above, we’ve separated devices into blockchain phones and crypto phones. This is a helpful way of understanding the two technologies and appreciating their individual strengths and weaknesses, but in reality, it’s rare to find a phone that is only one or the other.
The truth is that most blockchain-ready smartphones can also handle cryptocurrency functions, and vice-versa. Let’s take a look at a real-world example of a blockchain and crypto-ready smartphone to give you an idea of exactly what these devices can offer.
Solana is best known as a cryptocurrency and blockchain platform. It is currently the seventh biggest cryptocurrency by market cap and is trading at a price of $23.92.
In April 2023, Solana debuted a smartphone, called Saga. This was a big deal in the crypto world, as it was the first smartphone produced by the development team behind a currency. It came packed with crypto and blockchain-focused features and technology and created quite a stir in the industry.
The Sage is a large device that boasts a 1080p, 6.67-inch AMOLED display. It has a 4,110Ah battery unit to help power the large screen. The Saga uses a powerful Qualcomm Snapdragon processor with 12GB of RAM and even has a 50-megapixel rear camera.
What about crypto and blockchain features? The Saga comes with built-in access to a digital marketplace that sells dApps. It also comes with a feature called Seed Vault. This is a digital wallet that can be used to store crypto, NFTs and other assets. Seed Vault is highly secure, accessed with biometric data, and exists separately from the device’s core operating system to ensure it is not compromised in the event of a cyberattack.
What Does the Future Hold?
It doesn’t seem all that long ago that a mobile was an optional accessory. Today, this couldn’t be further from the truth. Our lives are increasingly interconnected with our mobiles, and without them, we’d struggle to keep in touch with friends and family, entertain ourselves and even do our jobs correctly.
As smartphones continue to improve, they are only going to become more important to us. As they become more integrated with blockchain tech, a host of new users are going to be introduced to the exciting worlds of blockchain and cryptocurrency.
Cryptocurrencies have the potential to change the financial world, but there remains a technical barrier to entry that is preventing them from being accepted by mainstream society. Making use of cryptocurrencies requires a degree of technical skill and know-how, which leads many to abandon them in favour of easier, traditional payment methods.
What these new smartphones will do is make blockchain and cryptocurrency more accessible for the average person. Users will be able to visit marketplaces and buy cryptocurrencies with a few clicks, and they’ll be able to safely store their assets on their mobiles without having to download and get to grips with third-party crypto wallet software.
The rise of blockchain tech in smartphones will accelerate the evolution of cryptocurrencies and other associated technologies. It’s all about getting as many people interested in blockchain as possible, and the most effective way to do so is through users’ smartphones.
Blockchain technology is having a big influence across a wide range of different industries. We’re seeing it increasingly appear in smartphone tech and has resulted in a new generation of smartphones that come fitted with a host of blockchain and crypto-related features.