A Crypto-Focused Smartphone Isn’t Actually Worth It

$1,000 Crypto-Centric Smartphone Launched Worst Crypto Crash It seems like a cruel joke these past few years.

Solana LaboratoriesThe tech company behind the Solana blockchain announces the launch Purpose-built Android phones for its cryptocurrency ecosystem. However, not all blockchain experts were excited about the news.

“Cryptocurrencies don’t need crypto-native phones,” Twitter Justin BunceFounder and CIO of Crypto Investment Company network capital† “It needs better software to run safely on the phones we all have!”

if it’s not broken

CEO of Solana Labs Anatoly Yakovenkoz Launched a mobile phone called Saga, at an event in New York† “After 13 years of Bitcoin, we didn’t see a single cryptographic feature at the Apple Developer Conference…I think it’s time for crypto to move,” noted Yakovenko.

in a Press releaseYakovenko praised the Saga as a benchmark device that will “set a new standard for mobile web3 experiences”.

“Everything is moving,” noted Sam Bankman FreedCEO or cryptocurrency exchange FTX during the press conference. Acknowledging that the crypto experience on mobile devices is behind the times, he said the best solution to bridge the gap is to “build an actual wallet into your phone.”

In an email exchange with Lifewire, Austin FederaCommunications Supervisor Solana FoundationPoint out that one of the key differences of Saga is Solana Mobile Stack†

“We live on mobile devices, and with the exception of Web3, it’s largely still on the desktop,” Federa explained. “The Solana Mobile Stack will provide developers with the tools they need to build great mobile experiences on Android and is designed to support the Web3 business model at no cost to developers or users.”

Saga will feature a Web3 dapp (decentralized application) store, a Solana Pay app for making QR code-based on-chain payments, a mobile wallet adapter, and a “seed vault” to store the owner’s private keys .

However, like Bunce, Lumican independent blockchain researcher, was not impressed.

“Web3 or blockchain-enabled smartphones have been around since at least 2019, and they’ve all failed,” Lumi told Lifewire about Twitter DMs, “whether by Crypto Payment Team or the actual mobile manufacturer like HTC†

Lumi explained that the “encrypted phone” type is stuffing a physical hardware wallet into a phone, which he believes may be the most questionable security practice he’s seen in the crypto space.

“‘Don’t carry your portfolio with you’ has been and always will be a sane and sensible security practice,” Lumi noted. “But if you don’t have a portfolio with you, why would you need a dedicated hardware wallet?”

wrong tree

Bons and Lumi also questioned Solana’s safety record. “Security is Solana The most famous criticism is‘ claimed Lumi. ‘Their blockchain is down at least seven times To date, often resulting in extreme negative price action [Solana cryptocurrency] holder. ”

In addition to security concerns, Lumi also pointed out flaws in the Solana ecosystem.He particularly highlighted recent events in which Solana lending platform Solend apparently did not hesitate to go to Against the spirit of encryption And grant yourself the power to take over someone’s account. The move was ultimately opposed by the overwhelming majority. not getting along well with the community†

I believe Solana’s problems need to be solved with software, not a new smartphone.

“What’s worse is that despite the price tag, the phone won’t compete with other high-end products in the same price range,” Lumi noted. “It’s not something new, groundbreaking, really latest generation.”

The Saga includes a 6.67-inch OLED display, 12 GB of RAM, 512 GB of storage, and a Snapdragon 8+ Gen 1 mobile platform. It will be designed and manufactured by OSOM.

“Go buy it,” Tweet Ironically. “Just don’t expect it to have any impact.”