What Is a Blockchain Phone?
--Sirin Labs' Finney and the HTC's Exodus are set to become the first blockchain phones on the market.
--In the long-term, blockchain phones could be used to increase our security and shift the control of our data away from large corporations back to the individual users.
--In the future, it is likely that the concept could become mainstream due to the benefits it provides.
The above snippets are the news about the blockchain phone. Blockchain has gained great popularity over the past couple of years, but the concept of a blockchain phone still remains quite a mystery. Furthermore we're confused that so many companies are trying to so hard to bring this concept to reality, and also surprised that it's taken this long and we still don't have a fully working model. So first let’s explore what is blockchain and how to use it in a phone.
Blockchain is Essentially a Shared Database With No Master Copy.
A blockchain is an encrypted and shared database that's spread across more than one computing device. This means that every person with access can modify that ledger without waiting for someone else to finish any edits. There are complicated algorithms in place to keep duplicate entries out based on the actual time they were created or changed. When the database updates, every client gets the changes and they are always in sync. A blockchain is considered to be secure not because the database is encrypted, but because there is no single "master" copy to edit or corrupt — the blockchain database on your computer is considered to be as valid as the database on any other computer.
With potentially millions of computers hosting the blockchain database, it's also available to the public and verifiable by anyone who has the need and means to verify it. Remember, no matter where the blockchain is accessed, it has the same data because of the software behind it that reconciles any and all entries every 10 minutes. This makes a blockchain a great way to host decentralized data for cryptocurrency. Anyone can access the chain and use software like a currency wallet to spend and manage their alternative currency. Nobody can hack into the chain because there is no master copy to hack.
The most important features about the blockchain are:
A blockchain is transparent and the data is available to anyone who has software that needs to access it. There is no master copy and as long as enough computers host the data, there would never be a computer powerful enough to find every copy and corrupt it. Any change to the data (such as a BitCoin transaction) happens through a validation system that apps like a coin wallet can interact with. Every node in the chain validates each transaction to ensure that it's valid. A blockchain keeps a record of every transaction (change to a data point) and each transaction holds information about where it originated. This is why blockchain technology is the right way to keep records for cryptocurrency.
No person or group can manipulate it, and each node acts as an administrator so no single part of the chain can go "rogue" and foul things up. But there are other potential uses for a blockchain. Things like landholder records and title deeds could use a blockchain, or a complete stock market could be built using a blockchain and any middleman such as a broker would become unnecessary. Any type of database that has individual records that need to be assigned to an individual identity could use blockchain technology. Because a blockchain uses public/private encryption key pairing, each transaction is secure and easy to identify.
How Does Blockchain Work in a Phone?
The creation of the blockchain phone isn't merely to give people yet another place to store their crypto. In fact, it symbolizes something much larger. In addition to giving people a new way to relate to their crypto, it will change the way they relate to their data and their identity.
Given the increasing number of data breaches we're witnessing from large corporations, it's apparent that people are becoming far more suspicious of the corporations controlling their data, and are interested in finding alternatives.
The blockchain is a transparent, immutable digital ledger that grants users full control of their own data and addresses many of the challenges we're currently facing with regards to our digital identities.
Ultimately, the use of this technology in the mobile phone represents a shift in control from large corporations, back to the individual users themselves.
"A few years down the road, we see a world where people own their own identities and data, where everyone understands the concept and economics of digital property," says HTC's Chen.
No matter how phone changes, one auxiliary of phone will remain stable--the cable. So let’s look forward to the new coming Durable USB Cable with Lifetime Warranty-- Zendure SuperCord now on Indiegogo.