A new blockchain phone is being released by HTC and Bitcoin.com. What’s special about it? It has a bitcoin cash (BCH) wallet built into it to potentially inspire its customers to get into cryptocurrency usage and trade options.
Bitcoin Cash Is Taking Over
The fact that it has a bitcoin cash wallet and not one designed for its parent currency bitcoin makes more sense than one might think. Roger Ver, who owns Bitcoin.com, recently did a 360 when it came to cryptocurrency and, despite several years of touting bitcoin and its respective properties, suddenly decided that bitcoin cash was the better deal.
Ver explains that he views bitcoin as a failure of sorts, and ultimately believes bitcoin cash to be the “truer” version of Satoshi Nakamoto’s invention. This has caused some to label Roger Ver a genius, while others claim he is traitor to turn his back on the currency that gave birth to the crypto industry in the first place.
The switch has also led Ver to duke it out with other industry officials, such as Craig Wright, an Australian bitcoin developer and entrepreneur. Bitcoin cash underwent a serious hard fork in 2018 that many say is to blame for bitcoin’s sudden fall into the $3,000 range just a few months later.
The fork was considered very controversial at the time, with people like Ver saying the new version of bitcoin cash was a terrible mistake, and Wright claiming it was the best version of bitcoin yet. Known as bitcoin SV, the new currency which stems from that hard fork has pitted many of the best against each other in the financial ring.
The phone with the wallet built into it is known as Exodus 1. First introduced in May of this year, HTC claims it is among the most-simple crypto-based smartphones to use, while Bitcoin.com executives have expressed excitement that the wallet will bring more customers to its already staggering four million-person user base.
Phil Chen, the decentralized chief officer at HTC, explains in an interview that:
The Exodus vision has always aligned itself toward public blockchains and its fundamental transformative nature of the future of money and the internet. The Zion Vault is happy to support BCH natively in hardware for security to go hand in hand with the BCH blockchain as an alternative to dominant payment rails and platforms.
Another gift is in store for BCH users. Those seeking to pay for their phones with bitcoin cash can expect to receive a special discount granted they make the purchase through the official bitcoin.com store.
We Want More Users
Roger Ver reveals in a statement:
The partnership between Bitcoin.com and HTC will enable bitcoin cash to be used as peer-to-peer electronic cash for all the Exodus users around the world.
Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.
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