Crypto goes mobile 📲
Crypto meets mobile! the web3 world wants to go mobile-first. Hold on tight as we dive into the future of the mobile-friendly crypto universe.
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Guess what? Crypto founders have finally realised that mobile is the VIP it needs to rub shoulders with. Investors and founders in the crypto world are suddenly chanting the mantra of onboarding the next billion users, on mobile.
But hold up, folks! We can't even reach the next billion until we tackle the first billion! And guess what? That means giving mobile tech a big ol' bear hug.
Get this: more than 90% of the world's population owns a mobile phone. That's a staggering number, right? And guess how many of those folks have smartphones? A whopping 83%, which translates to around 6.6 billion people!
Now, compare that to the sad fact that less than half of the world's population has a computer at home. Yeah, computers are so yesterday.
Now, let's talk about the metaverse. It's been the talk of the town, making grand appearances on the global stage. We even got Matthew Ball's book "The Metaverse" to keep up with the trend.
But here's the kicker: I bet my bottom dollar that ten years from now, most people won't be strutting around in VR goggles. Oh no, my friend. They'll still live it in the real world, jazzed up with a sprinkle of augmented reality (AR).
We're talking about turning our everyday lives into an awesome mix of real and augmented goodness without the need for clunky goggles.
Blockchain, Blockchain on The Wall, Who’s More Compact of Em’ All
Let's dive into the fascinating world of three crypto movers and shakers: Helium Network, Celo, and Mina Protocol. These bad boys are revolutionising the crypto game and ensuring mobile users get a front-row seat. Buckle up because we're about to take off!
Helium Network: a decentralised wireless network powered by regular folks like you and me. Helium Network allows users to earn cryptocurrency by providing coverage through their hotspots. It's like becoming a superhero of connectivity, all while making some sweet crypto on the side.
And guess what? It's all mobile-friendly so that you can be part of the network revolution right from the palm of your hand.
Celo: the cool kid about financial inclusion. They believe that everyone, and I mean everyone, should have access to financial services, no matter where they are.
With Celo, you can send, receive, and store crypto on your trusted mobile device. It's like having your own personal bank in your pocket, minus the stuffy suits and intimidating jargon. Celo is here to break barriers and bring crypto to the masses while keeping it mobile and user-friendly.
Mina Protocol: the pint-sized powerhouse of the crypto world. They're all about scalability, privacy, and making blockchain technology lightweight.
Mina Protocol lets you interact with the crypto universe without the burden of carrying around a heavy blockchain. It's like the crypto equivalent of having a pocket-sized dragon that can breathe fire at will. With Mina, you can enjoy the benefits of crypto on your mobile device without sacrificing speed or security.
Now, let's take a step back and ponder about making protocols mobile-friendly. It sounds fantastic, right?
While bringing crypto to mobile users opens up a world of possibilities, we shouldn't overlook the potential challenges. Mobile devices have limitations, and ensuring the same security and functionality as traditional platforms might be impossible. We must strike a balance between convenience and maintaining the robustness of these protocols. It's like trying to fit an elephant into a smartphone—sure, it's impressive, but it's not without its share of complexities.
Blockchain on Phone or Phone Made of Blockchain?
In a bold move against tech giants like Google and Apple, Solana announced the launch of its Web3 phone, the "Saga," in June 2022. Anatoly Yakovenko, the mastermind behind this venture, sees it as an opportunity to bypass the hefty "tax" imposed by these companies through their app stores. Yakovenko argues that these platforms follow a rent-seeking model, where users don't truly own the contents they purchase.
To challenge this, Solana's Saga comes equipped with the Solana Mobile Stack (SMS) software development kit, which allows developers to create immersive mobile experiences for wallets and apps on Solana.
And here's the kicker—it's all about Android, the operating system that runs on a whopping 70% of existing mobile phones. So, you don't need to ditch your trusty Android device. Just install Solana's goodies, and voila! You're in the game.
Now, here's the hilarious part. The Saga phone isn't even that proprietary. Solana didn't go through the trouble of developing it from scratch. Nope, they teamed up with Osom, a crew of former Google engineers, and rebranded one of their phones as the Saga. They utilised an original design manufacturer, a common practice in the smartphone industry, to mass-produce the handset.
But let's not kid ourselves, folks. Convincing people to buy the Saga when they can already do the same stuff on their current phones won't be a walk in the park. Sure, there are alternative app stores that don't impose that notorious "30% tax" Yakovenko despises, but they just don't have the same app library.
So, as the early reviews start pouring in, it's clear that the Saga phone is a mixed bag of promises and glitches. It's like your regular Android device on steroids, with a special "Solana dApp Store" to cater to all your web3 platform needs. But hold on to your hats because the app selection is...well, let's just say it's slim pickings. We're talking four wallets, three DeFi apps, three NFT apps, three social apps, and a dApp "workspace." It's like a party with a few too many empty seats.
When Fortune got its hands on the Saga phone, it had the pleasure of playing with 21 dApps. Fancy that! They could mint an NFT of their glorious selves, engage in some riveting racing game action, and even send NFT stickers to the founder of a Web3 messaging app called Dialect. We can only hope that Solana will iron out those wrinkles.
Android and iOS just don't get the memo. They treat Ethereum as just another app, stifling the true potential of Web3. Apple even wants a cut of those precious Ethereum gas fees, preventing you from fully experiencing the wonders of OpenSea and Uniswap. Well, ethOS is here to challenge the status quo, offering a meaningful alternative that pushes these giants to embrace Ethereum or risk losing their market share.
Developed by the brilliant minds behind EthereumPhone, this release is making some serious waves. Think of it as a fork of a fork — ethOS is built on the popular LineageOS but with a spicy twist of Ethereum integration. Open source? Check. Available on GitHub? You betcha!
To get your hands on this, you'll need an OEM Unlocked Google Pixel 3, 3XL, or 5a. This is just a taste of what the team has in store, as they're planning to unleash a full-fledged hardware device called the Ethereum Phone (ΞPhone).
What sets ethOS apart? Well, it comes with its very own native eth wallet and blockchain capabilities. Picture this: you take a selfie, mint it as an NFT on your phone—boom! Instant fame and fortune (well, maybe not fortune, but it's still pretty cool). It connects to the Ethereum blockchain like a pro through a nifty light node. No need to download every block, just the headers. It's like having your blockchain assistant.
But wait, there's more! ethOS integrates seamlessly with the Ethereum Name Service (ENS) and introduces the Extensible Message Transport Protocol (XMTP). It's like having a secret passcode to the decentralised internet.
Browsing becomes a new adventure, injecting identity into your sessions and connecting you to dApps. And hold onto your hats, folks, because with .eth domain support and IPFS integration, you can finally enjoy .eth websites with actual content. It's a decentralised dream come true!
Oh, and did we mention the decentralised autonomous DApp store? Say goodbye to centralisation and hello to community-driven app management. The DApps are smart-contract regulated, ensuring a safe and reliable experience.
Hold on tight, folks, because ethOS is gaining momentum. They've secured funding from NounsDAO and are working towards making it available pre-installed on Pixel 7s. The journey involves updating ethOS to be compatible with the new devices and establishing a delightful sales and distribution process. It's a challenging task that will bring us closer to a future where Web3 reigns supreme.
TTD Week That Was 📆
The week of crypto promise in times of regulatory storm.
Saturday: SBF going infinite ♾️
Friday: Understanding MiCA 📜 🇪🇺
Thursday: Crypto in times of recession 🌋
Wednesday: AI + Crypto = $TURBO 🔋
Tuesday: The hardware wallet storm 👝🌪
Monday: Crypto's Worldcoin 🪙 🌍
TTD Week in Funding 💰
Story Protocol $29.3 Million. Story Protocol will use the funds to accelerate the development of its web3 infrastructure platform.
Cormint $30 Million. Will use the fund to build a data center with 2.4 exahash/second (EH/s) of computing power in Fort Stockton, Texas.
River Financial $35 Million. The startup plans to use the funding injection to expand its consumer offering, as well as its Bitcoin banking solutions.
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Looks like I’ll finally have a reason to ditch Apple.