What’s new on Crypto?

New Insights by Crypto Investor Asia

Stable (Bit)coin: not as volatile anymore?

It’s true that volatility in bitcoin has been declining. In fact, according to number crunching by CBOE Global Markets, the 20-day historical volatility (HV) of bitcoin has fallen to 31.5 percent. It is less ‘volatile’ than Amazon.com (35 percent), Netflix (52 percent) and inching close to, ahem, Apple which is sitting at 29.3 percent. Even chip producer Nvidia is higher at 40 percent.

Davitt added that “perhaps we are witnessing the maturation of a market”. He does concede that it’s “far too early to declare this the ‘new normal’ but the persistent range over the last few weeks may be hinting at a structural shift”.  Adoption should improve with less instability, but many are also hankering for a bull run to solidify gains.

You can buy HTC’s blockchain phone Exodus 1 with crypto

A little over six months after HTC announced their plans for a blockchain smartphone, the Exodus 1 is now available for pre-order and will ship to customers in December. Notably, purchase of the smartphone can only be done with cryptocurrencies using either Bitcoin (0.15 BTC) or Ethereum (4.78 ETH).

At press time, that comes to around US$963—roughly the starting price of the iPhone Xs. As reported by Wired, the Exodus 1 comes with a Snapdragon 845, 6GM of RAM, and 128GB of storage.

HTC claims that users could safeguard their digital assets in the phone, arguably more secure than storing a wallet on a regular phone through an app. The Exodus uses the ARM chip’s secure enclave to build a trust zone that is encrypted and separate from the main Android OS. Of course, a very valid question arises: “what if you lose your phone?”

They have an answer for this too. A “Social Key Recovery” feature will be implemented which will allow users to select a few trusted contacts who will receive part of their recovery key. If the worse happens and the phone goes missing, users could still recover their wallets through the key. While this backup plan sounds feasible enough, it doesn’t take into account the myriad of possibilities that could very much go wrong. If one of your “trusted contacts” were to have their own phone stolen, or lose your data, or simply refuse to share their part of the key due to a falling out, then backups become unrecoverable. While hardly an ideal solution, HTC’s decentralised chief officer Phil Chen admits that it is still very much a work in progress:

“THE GOAL IS TO START WITH THE BLOCKCHAIN COMMUNITY AND GET ITS ASSISTANCE IN MAKING OUR WALLET AND THE TECHNOLOGY EVEN MORE SECURE.”

“WE ARE OPENLY INVITING THE COMMUNITY AND POTENTIAL PARTNERS WHO SHARE OUR VISION TO COLLABORATE WITH US TO BRING IN MORE APPLICATIONS AND TO HELP NEW USERS TO UNDERSTAND THE TECHNOLOGY. THIS SHOULD BE A COLLABORATIVE WORK WITH THE WHOLE BLOCKCHAIN COMMUNITY TO HELP EXPAND THE ECOSYSTEM.”

Whether or not the phone will catch on remains a mystery. This isn’t the first convergence of a smartphone and the blockchain however. Earlier this month Pundi X announced their very own XPhone, with a demo hailed as the “first ever blockchain phone call” in front of journalist and attendees at the XBlockchain Summit.

 

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