Blockchain technology has boomed in popularity and is being applied across countless industries, from healthcare to real estate. With the increased demand for blockchain tech, there’s no surprise it has made its way to smartphones. Throughout this article, we’ll define blockchain phones and tell you which ones are the best.
What Is Blockchain?
Before we begin discussing smartphones and blockchain, let’s start with blockchain tech. The explanation of blockchain is metaphorical because it doesn’t look like a chain when you dig into the code. Blockchain is a decentralized ledger shared across countless computers and devices (nodes). When a transaction (change) takes place, it’s stored on the chain and encrypted, meaning it can never be altered or removed. The way blockchain works makes it almost impossible to hack, but that doesn’t mean it can’t be done.
A blockchain smartphone onboards blockchain technology, allowing cryptocurrency holders to store their private keys on the go. Having a hardware wallet built into a phone means tighter security because you don’t need to carry around additional devices and it’s not connected to the internet. However, you can easily transfer funds out of the hardware wallet and into a hot wallet like okx.com, which has an Android app.
As well as allowing users to secure their private keys and crypto, blockchain smartphones are perfect for using dApps, which have exploded in popularity over recent years. This is great news for NFT fans and gamers because it means Axie Infinity and other popular play-to-earn (P2E) games will integrate with the native function of the smartphone.
HTC has always been a powerful brand, and the HTC Exodus 1 made them more so by bringing them into the blockchain space. One of the greatest benefits of the Exodus 1 is the native hardware wallet and vault, which they call Zion. Transactions can easily be made from the Zion vault thanks to TEE (Trusted Execution Environment), which keeps blockchain information completely malware-proof.
Electroneum is already well known for having a powerful crypto wallet, but they’ve dived into the smartphone landscape with the release of the M1. This is a super affordable Android phone with zero thrills, but it’s great for people interested in holding cryptocurrencies and using DApps. As well as storing coins, the Electroneum M1 can be used to remotely mine cryptocurrency through cloud technology, which used to be a huge appeal before Ethereum’s “The Merge”.
FINNEY, created by Sirin Labs, is one of the best blockchain smartphones on the market and is full of incredible features. To kick things off, it has an in-built hardware wallet designed to keep private keys super safe. Additionally, the phone has a system called “Learn and Earn”, meaning you can gain crypto by simply researching certain blockchain topics.
The blockchain revolution is well underway and is already hitting mainstream manufacturers. As we move forward and dApps become more commonplace, we’ll likely see more major providers including blockchain functionality.