People who own EXODUS 1, the blockchain phone belonging to HTC, can now go from one cryptocurrency to another on its native wallet.
This was made possible after HTC partnered with Kyber Network to add the liquidity protocol to its wallet app, Zion Vault.
What this means is that those who have the phone and app can swap between ERC-20 tokens on the app. There would be no need to take the money first to a cryptocurrency exchange as used to be the case before this development. HTC is proud of this development as they claim it will help clients to enjoy their phones better.
According to Phil Chen who is the Decentralized Chief Officer for HTC:
“The ability to swap ERC-20 tokens on chain in the Zion Vault without relying on third party exchanges is another step in empowering the user and maximizing security and privacy, which is at the center of the EXODUS mission.”
In September 2018, Loi Luu from Kyber Network announced that his company was preparing grounds to make the usage of ERC-20 tokens easier so that payments with them can be done smoothly. ERC-20 is a standard created by Ethereum for creating cryptocurrencies.
Today, HTC made it known that this development which has been made possible by Kyber can also be experienced on any application, wallets, vendors and decentralized applications.
After Chen revealed last month that HTC is making plans to introduce another phone into the market, everyone has been expectant. The new phone will be called EXODUS 1s and it is expected to be fully compliant with everything that is presently on the Bitcoin network. He said: “We think that’s foundational to the whole decentralized internet and just the whole fundamental premise. If you don’t own your keys, you don’t own your bitcoin, you don’t own your crypto.” The phone will be available for $250 to $300.
Chen gave more hope to his listeners when he further said that the HTC phone will have more memory to handle Bitcoin’s operations.