THE HTC EXODUS BLOCKCHAIN PHONE COMES INTO FOCUS
BLOCKCHAIN PHONES ARE coming, that much is certain. The Sirin Labs Finney and the HTC Exodus are both expected by the end of the year, each with its own, sometimes vaguely defined sense of what exactly that term means. HTC’s Phil Chen, who spearheaded Exodus development, has at least started to fill in the blanks of how the Exodus will pull off its most important trick: keeping your cryptocurrency safe.
The Exodus has loftier ambitions than mere storage, of course. “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 Chen, HTC's decentralized chief officer. For the moment, though, the primary concern for the Exodus’s intended audience is how well it works as a hardware wallet.
The HTC Exodus aims instead for something of a compromise. It isn’t quite cold storage, but at least it empowers users by allowing them to hold their own keys. It does so by placing them in a so-called trusted execution environment, a part of an ARM chip called TrustZone. The secure enclave sits apart from the operating system, designed to inoculate precious cargo even in the event of a broader breach. Think of it as a smartphone’s panic room.
The concept of a secure enclave isn’t new; Intel has offered one for PCs for some time, and Apple uses one to protect the biometric data—your fingerprint and face—that it uses to unlock the iPhone. Even TrustZone has been around for years, commonly used by studios and such to lock down DRM-protected content.
[If you lose your key] HTC’s proposed failsafe: You can split your key among three to five people you trust, all of whom will need to download an app for this to work. You won’t need their help to assign transactions, but you will if you lose your phone.
See the full story here: https://www.wired.com/story/htc-exodus-blockchain-phone-secure-cryptocurrency/