Solana Labs, the company behind the Solana blockchain has unveiled its plans to build a web 3.0-focused Android smartphone called Saga as well as the Solana Mobile Stack software ecosystem for Android. Find out its fascinating features while you read ahead!
This innovation was disclosed in New York on June 23, the CEO of Solana Labs, Anatoly Yakovenko said that the smartphone will cost up to $1000 and should be available for delivery early next year.
At the event where the announcement was made, the CEO of FTX cryptocurrency exchange, who is also a part of the key backer of Solana blockchain Sam Bankman-Fried said that “everything is going mobile. In most countries, most of the access happens through mobile phones. But crypto mobile is behind the times.”
He also furthered by saying that “the best solution for this is having the actual wallet built into your phone.”
Solana also noted that it is planning to partner with companies like Magic Eden, the top NFT (non-fungible token) marketplace, Phantom, the biggest wallet provider, and Orca, a decentralized finance (Defi) platform to power the ecosystem to build the phone.
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Sold a mobile smack (SMS) is an open-source software development kit, it enables app developers to build native Android applications that will be compatible with the Solana blockchain network.
The software development kit on the other hand comprises a Mobile Wallet adapter, a protocol for connecting web applications and native Android apps to wallets on mobile devices. According to the company, this feature is designed to work on all other mobile devices apart from the Android operating system.
Another fascinating feature is the Seed Vault, it is a safe environment designed into mobile devices that keeps private keys, seed phrases, and secrets separated from the application layer, while still being able to interact with apps running on the device or mobile browser. Through isolation of sensitive data from the application layer, this feature aims to prevent theft due to hacks and exploits in apps.
Solana Pay for Android is an additional feature that enables decentralized mobile payments as well as enabling users to make contactless-based mobile payments backed by the funds held in their self-custody wallets at “tens of millions of merchants” across the globe.
The smartphone will also feature Solana’s web 3 app store (decentralized app) and the project will mark Solana’s biggest project on mobile-focused growth. Saga users will be able to access decentralized apps and wallets without paying any fees on the Solana network.
According to Solana Labs, the Solana Mobile Stack will enable new features including the ability for users to mint (i.e. create and launch) Non-Fungible Tokens (NFTs) via their smartphones. They will also be able to play Solana-based games, make mobile transactions on the network and gain easier access to various dapps and protocols in the Solana ecosystem, including Defi applications.
As well as the Seed Vault, Saga will have a hardware-based “secure element” to further protect users’ sensitive information from exploits and theft due to hacks. Android and iOS device users are at risk of losing their crypto due to fake apps, so this additional security measure could prove to be helpful.
Furthermore, the company’s (Solana) Foundation is planning a $10 million developer ecosystem fund to give grants to mobile developers and creators, a move that came shortly following Solana’s $100 million fund launching to attract crypto projects from South Korea.
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