The Finney Phone, Under The Development Of Sirin Labs, Is Adopting The Ethereum Network

The Finney Phone, Under The Development Of Sirin Labs, Is Adopting The Ethereum Network

Sirin Labs is reportedly the first company with plans introduce a blockchain-based phone. The company originally planned to develop a network on top of the IOTA blockchain but are now to adopt the Ethereum network.

IOTA was initially chosen to work with and develop the handset as the project has a strong focus on the Internet of Things. The Internet of Things (IoT) is the interconnection of computer devices through the internet enabling them to send and receive data. This creates more opportunities for direct integration potentially increasing efficiency and reducing costs. Up-to-date information would be received to the phone allowing informed decisions to sell crypto.

The new partnership between Sirin Labs and Ethereum will see the development of a private network. The Finney Phone at launch will be using the Ethereum blockchain processing through and group of nodes hosted by Sirin Labs. The group have not elaborated to the reason for choosing the Ethereum network over IOTA but the lack of maturity in IOTA could have been a factor.

The Finney Phone is slated for release in November this year creating the need for a proven blockchain further developed for its success. The move is suggested to be a temporary solution as Sirin Labs has plans to incorporate a third generation blockchain for reliability, scalability, security and speed. Many investors with cryptocurrency do not trust mobile devices to trade. This blockchain phone would bring high security, reassuring users that its safe to cash out bitcoin through a mobile device.

The phone is expected to cost around $1000 and can be pre-ordered through the Sirin Labs website, boasting of features to compete with the best phones currently on the market. Many people use a computer, but the place where to sell bitcoin in the future could be through your phone.

 

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