Solana saga: what Solana blockchain crypto smartphone is all about | 24/07/22

• Solana expands mobile engagement
• Solana Saga is already available for pre-order
• Saga NFT as a pre-order bonus

Solana wants to push mobile crypto transactions

Numerous crypto exchanges offer their customers trading in cyber currencies like Bitcoin, Ether & Co. via different platforms. In addition to registering in the browser, providers usually provide their own smartphone apps, which aim to enable crypto fans to trade digital assets on the go. However, for extensive or important transactions, investors often do not use mobile apps, but perform their transactions on the computer, as Anatoly Yakovenko, co-founder of the Solana blockchain and the cryptocurrency of the same name, recently explained in a blog post. . “The coins, trades, listings and transfers that are critical to crypto-lovers’ daily lives pull us away from our lives with others,” the developer said. “The only companies with the resources to build the mobile future we all dream of, Apple and Google, have not provided updates to their crypto roadmaps.”

Solana Mobile Stack: High compatibility and security Android– Telephones

Reason enough for Solana Labs to take this task into their own hands. As part of his text contribution, Yakovenko announced the “Solana Mobile Stack” for Android devices, a user interface that users can use to operate native Web3 apps. With the included Seed Vault, a escrow protocol, transactions must also be signed instantly, and private keys from wallets, apps, and the Android operating system can be organized separately. With the mobile wallet adapter and integrated payment functions, various services can be used easily and securely, the company promises. The Solana dApp Store, which brings decentralized Web3 apps to Android devices, also plays a key role here.

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Crypto smartphone Saga comes with Solana Mobile Stack

But that’s not all: With the “Saga”, the developer studio is launching its own smartphone, which already comes with the Solana Mobile Stack. SeedVault is also pre-installed on the “flagship quality” device and is deeply integrated with the operating system. For Yakovenko, the approach of linking cryptocurrencies to smartphones is only logical. “Nearly 7 billion people use smartphones worldwide, and more than 100 million people own digital assets — and both numbers will continue to grow,” the co-founder said in a statement. “Saga sets a new standard for the Web3 experience on mobile.”

The Solana Saga has a 6.67-inch OLED screen, 12 gigabytes of RAM and a 512 gigabyte hard drive. Also, QUALCOMM’s Snapdragon 8 Gen 1 platform, which is currently considered high-end hardware, finds use in the saga. According to Solana Labs, the smartphone is expected to cost US$1,000 with a pre-order of US$100. At the moment, however, developers who need to test the Solana Mobile Stack in connection with the saga are preferred here. Pre-ordered units will then be delivered in the first quarter of 2023.

High demand for Saga Phone

Yakovenko recently spoke to Brad Smith and David Hollerith of Yahoo Finance and explained what the crypto-smartphone is all about. “First and foremost, Solana Mobile Stack is a piece of software that allows users to store their keys on the phone in such a way that no one can ever steal them,” according to the developer. “And then you can pay with any coin, just like with any token in the cafe. Things like that are pretty important and transformative for cryptocurrency, I think, because it’s not a big technology.” In the interview, Yakovenko praised the hardware used in the smartphone: “This device will probably sell for 1,300 or 1,400 US dollars. But we want to do something good for our society,” he justified the price of the “top-of-the-line device”. “.. More than 1,500 units were ordered in the first 24 hours after the start of the pre-order campaign. More than 10,000 interested parties have also joined the waiting list.

Currently focusing on developers of Web3 applications

Still, the device is not suitable for all types of crypto investors, Yakovenko pointed out. “Obviously, if you’re an institutional trader, you need true custody with extreme security,” Solana’s co-founder said. “But if you need something on the go and basically want to pay at a coffee shop, this is a perfect solution for that.” The focus is currently also on developers who supply the smartphone with applications. “So this is a device that is a new platform for developers. We have one of the fastest growing developer communities in the world of any network, probably any technology right now,” Yakovenko continued. “So we’re building the device so that developers can take advantage of these new features. The theory is that 25,000 active Web3 users and an app store without restrictions is a better distribution channel than the big app stores. Stores. And if that’s true, developers will make great apps. Great apps will attract great users and so on.”

Pre-orderers will receive the Saga NFT

According to Solana Labs, the Solana blockchain is not only the fastest blockchain in the world, but also the fastest growing ecosystem in the crypto world. With millions of active addresses, it can now claim to offer the largest platform for NFTs. For this reason, those who pre-order the saga will also receive a “Saga Pass”. This is an NFT that should be reserved for owners of the first generation of the saga.

HTC’s crypto smartphone flopped

According to the tech portal t3n, Solana’s Saga Phone is not the first mobile crypto project on the market. Already in 2018, the Taiwanese smartphone manufacturer HTC launched the “Exodus”, a mobile phone that acts as a hardware wallet and was able to locally manage a blockchain node using a micro SD card with 400 gigabytes of storage space. Some crypto industry giants have spoken out in favor of the project, including Ethereum co-founder Vitalik Buterin and Litecoin developer Charlie Lee. The company then also launched a cheaper entry-level variant and a special edition, which was done in collaboration with the crypto exchange Binance. According to t3n, however, the “Cryptophone” flopped.

Editor finanzen.ch

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