Blockchain Smartphone HTC Exodus Integrates DeFi, Adds Support for SegWit Protocol

HTC, the Taiwanese mobile phone company that launched Exodus, the blockchain phone, back in October 2018 has announced major upgrades on April 29th.

Some of the key updates include the integration of Compound and MakerDAO along with further support for the SegWit protocol. These new updates would be added through Firmware Over The Air (FOTA). Apart from these major upgrades, the firm also promises to improve the blockchain experience on the phone.

SegWit operates as a second-layer protocol which helps to scale bitcoin transaction and make it more secure. SegWit separates the main part of the data from the one that is required to authenticate the original transaction, which not only makes the transaction data smaller and easier to process but also more secure.

The Defi Protocol Integration With Zion

Zion operates as a private vault within the Exodus smartphone, allowing secure transactions and storage for a wide range of crypto assets, along with management of one’s private keys.

The integration of Defi protocols like MakerDAO and Compound would make Zion a highly versatile wallet, given how popular Defi ecosystem has become in recent times.

With this integration, Exodus owners can directly stake their ETH through Compound and MakerDAO and draw loans in DAI against their collateralized ETH. This integration would surely make way for better management of funds as well as staking and lending.

HTC Exodus Adds Many New Features to Make for a Complete Blockchain Experience

Apart from SegWit and Defi protocol integration, the firmware update would see many other added benefits including Stellar Memo support.

The stellar memo is a transaction identifier which is required by many exchanges to distinguish one transaction from another. The absence of the memo often results in lost funds, thus this integration would ensure each transaction made from the Exodus smartphone is distinct and secure.

The new firmware update would also improve the Initial Block Download (IBD) process which is a node synchronization process. A faster IBD would ensure that the smartphone downloads the newly mined blocks faster which in turn would help in processing new transactions faster and more efficiently, since, during the node synch process, the node does not accept any new transaction.

Apart from these significant updates, other minor, yet defining improvements include Enhance Dapp Hub search function: This feature would allow users to search for any Dapp using URL on Dapp hub.

System Enhancement

The System Enhancement saw the Addition of Google Security Page.

HTC was a prominent smartphone maker before the China-made cheaper alternatives took on the mobile market and significantly cut its share.

However, HTC dived into the decentralized space with its blockchain phone Exodus and later launched a lite version for the same. And since then it has continued to focus on bringing pure blockchain experience via smartphones.

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