Solana’s smartphone makes an attempt to conceal the numerous issues that the blockchain is now facing by surprising many investors and Web 3.0 aficionados. Will this smartphone be sufficient to weather the bear market, though? What we will strive to comprehend is this.
On June 23, Anatoly Yakovenko, co-founder and CEO of Solana (SOL), had a Steve Jobs-like moment when he announced the release of Saga, an Android smartphone with a web3 focus.
- “ It’s something that I fundamentally believe the industry needs to do. We haven’t seen a single cryptographic feature at Apple’s developer conference, 13 years after the birth of bitcoin ,” Yavolenko said.
For both experts and others who are unfamiliar with blockchain technology and its myriad applications, this smartphone would serve as a bridge to Web 3.0.
It’s crucial to remember that the timing can be viewed as poor. Even while the bear market shouldn’t slow down innovation, public interest in cryptocurrencies is still closely tied to their prices and the upswing in enthusiasm that occurs when bitcoin price increases. The Solana blockchain is also seriously in danger; read our experts’ predictions for the three causes of its demise.
Additionally, Yakovenko appears to be conscious of the fact that the gadget isn’t particularly appealing to the general population, but he still believes it may reach the most fervent bitcoin users:
- ” We’re targeting diehards who know what self-defense means. Start with a group that loves the product and grow from there .
It’s not the first cryptocurrency smartphone.
Contrary to popular belief, the Solana smartphone is not the first of its kind. This demonstrates how hard it is for its rivals to stand out.
The HTC Exodus Cryptophone, for instance, is a smartphone that enables you to store your cryptocurrency while maintaining complete control over them. There is even a variant that was created in partnership with Binance, however despite these innovations, this smartphone is still not very well recognized.
Then there is the $999 Sirin Labs The FINNEYTM blockchain smartphone, which is run by SIRIN OS and is quite a nice device. It has a Learn and Earn system and cold storage for its cryptocurrency. However, the Web 3.0 community still knows very little about it.
As a result, blockchain smartphones have captured the attention of numerous businesses. The Solana smartphone is unquestionably the most ambitious and impactful in the web 3.0 world. However, it is uncertain whether there is a demand for it and whether the technology is compelling enough to compete with smartphone oligopolies like Apple or Android.
