Sirin Labs has become popular for working on many high-end smartphones. The company has announced that it will be releasing a new smartphone that works on the blockchain, the same system that most cryptocurrencies run on.
The new smartphone is entitled Finney and is being promoted as the other phone in the world that is truly secure. That is, the phone works on a decentralized blockchain to ensure the data on the phone cannot be easy to reach through a central port.
The blockchain phone makes it so people can hold cryptocurrency coins on it. Even more importantly, the Finney phone will come with support for Status, an Ethereum client.
The Status client will offer support for many tokens that operate off of the Ethereum base. These include the Finney and Status tokens.
The client works well to ensure that the Ethereum base will work properly. This will help allow people to get extra access to the decentralized nature of the system while improving upon how well mobile apps that work with that system are used.
The phone particularly gets its name from Hal Finney, a figure who was critical in developing the bitcoin.
Around $100 million was raised by Sirin Labs to help with producing the Finney phone and developing its software.
The main point for Status is that it will work as an open source platform and browser. This is designed with mobile devices in mind.
Status will use the platform and browser to allow people to interact with decentralized applications on the Ethereum platform. The Finney phone will use Status to reach encrypted data and smart contracts. It can also work with many digital currencies that operate on the same Ethereum base.
Key For Developing Apps
The main point for the Status app on the Finney phone is that it will help to utilize the Ethereum system while supporting the development for decentralized applications. The open source nature of the system ensures that people can produce new apps while making it easier for people to get more out of it.
An open source operating system will be produced in the near future as well. This open source system would help to allow people to transfer tokens from one party to the next. This would be secure and will entail no fees while the technology is being adapted. It will be vital for ensuring that it will not be a challenge for people to manage coins and to keep them secure.
When Will It Be Available?
The Finney phone is expected to be released at some point next year. Status will already be on that phone.
It is unclear as to how much the phone would be worth but it is expected to be highly expensive. There are reports that it will cost around $999 to get when it is released although it is uncertain as to whether that will be the final price. Sirin Labs had already created its own earlier phone called the Solarin phone but that phone was worth $14,000.