HTC is introducing an economy version of its blockchain smartphone in a bid to induce the people hesitant about purchasing cryptocurrencies and exclusive flagships from the likes of Samsung and Apple. On Saturday, the smartphone maker of Taiwan launched the Exodus 1s, a somewhat smaller take on Exodus 1, which released the previous year. The smartphone initially cost about 0.15 bitcoins that were above $1,189 at recent prices, like that of a high-end Galaxy or iPhone, even though the firm subsequently offer customers to buy it in dollars for about $699.

The price of this new device is $244 (219 euros), or equivalent in digital currency. According to Phil Chen of HTC, the most significant difference with this smartphone is that it comes packed with features like cryptocurrency-related that will allow users to exchange, borrow, and lend digital assets. Furthermore, he added that the first smartphone that met the sales targets of the firm. The decentralized chief officer of HTC told CNBC that the current device is entirely different from previous ones. The Exodus 1 is still available in the markets for sale and is hitting their internal sales targets. In addition, the company has been pleased with the sales response.

HTC says that the one standout feature on the latest smartphone is the function to run a full bitcoin node. Consumers would have to fork out for memory card with 400GB-memory that stores the Blockchain of bitcoin, a digital ledger for validating transactions on the phone. Fundamentally, it means that users will be capable of verifying transactions on the basic bitcoin network. Chen described it as would enable cryptocurrency wallets on the smartphone to calculate the balance of user and certify the verification of future transactions. They are further certifying that the balance in actual owned by the spender.

Digital currency termed as Unpredictable Assets

The experts took the cryptocurrency as the volatile assets. Such as in December, bitcoin’s price hit a record near to $20,000 before falling as low as $3,122 in 2018. The digital currency raised again in 2019, doubling up in worth since the start of the year.

Why HTC focus on Blockchain?

HTC is hopeful that the new device will help it stand out in a lethargic smartphone market. For years, the firm mainly flew under the radar when specifically talks about smartphones. Since Google bought the team of HTC that in 2017 manufactures its Pixel phones, the company justly stays quiet when it comes to the latest releases. During the past few years, the company is shifting its focus away from smartphones to virtual reality. Last year, the company stated that it would dismiss 1,500 workers to realign resources. However, Chen said the company sees a chance to give a boost to the smartphone market with features like crypto-friendly, mainly for people with limited access to the financial system.