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The Sirin Labs token has surged nearly 40% intraday hinting at a fast market arrival of its blockchain-powered handset FINNEY.
The cryptocurrency market is today breathing some air of relief after a massive sell-off on Sunday. Almost all of the popular cryptocurrencies are showing recovery as of now. However, one cryptocurrency which has managed to steal the show is Sirin Labs Token (SRN). At the press time, Sirin Labs Token is 37.5% high and trading at $0.092. The existing market cap of SRN token is $45 million.
Just giving you a quick recap of things, Sirin Labs is the same company to launch the world’s first blockchain smartphone FINNEY. The smartphone is now available for pre-order on its official website at a price of $999. Also, note that Sirin Labs is the same company behind the launch of the world’s most secure handset SOLARIN. Moreover, Sirin Labs has collaborated with Foxconn International Holding (FIH) for the production of FINNEY.
FINNEY Smartphone Features
Earlier this year in May 2018, Sirin Labs unveiled the specs of the handset FINNEY. The FINNEY handset boasts pretty impressive specs which are absolutely suitable for the next-generation blockchain technology.
FINNEY phone will pair Qualcomm Snapdragon 845 with 6GB RAM and 128GB storage. On the imaging front, the phone will pack a 12-megapixel, f/1.8 lens with laser autofocus, while up front you’ll find an 8-megapixel, f/2.2 snapper with an 85-degree angle. Nestled beneath that is the fingerprint sensor, while the 6-inch, 18:9 display has a pixel density of 402PPI.
The major USP of the handset is the “built-in cold storage crypto wallet”. Considering the issues of theft and security with crypto storage, the offline cold storage solution is today’s primary requirement. Moreover, the additional features include secure P2P resource sharing and distributed ledger consensus.
The company has not at all compromised on the security aspects where it has a strong foothold. Some of the key areas it addresses include Behavioural based Intrusion Prevention System (IPS). It also has a dedicated physical security switch for wallet protection. Moreover, it also offers three-factor authentication: Biometric, Lock Pattern, Behavioural.
FINNEY will also facilitate users seamless and automatic token conversions for the use of different decentralized applications, without the hassle of obtaining the different tokens through an exchange.
The Primary Reason Behind the Surge of SRN Token
One of the major reasons for today’s price surge is that the handset is nearing its launch date as earlier announced by the company. According to the July 2018 announcement, the handset was likely to hit the market this month in November. It looks as if the announcement is due anytime soon.
FINNEY’s arrival into the market can prove to be a game-changer with the growing adoption of blockchain across different industries. But note that Sirin Labs is not the sole player in this game. Taiwanese handset manufacturer HTC also announced its blockchain-powered handset HTC Exodus earlier this year in May 2018. The HTC Exodus will also boast features like a native cold-storage wallet along with the ability to host decentralized applications.
HTC Exodus will also support underlying protocols such as Bitcoin, Lightning Networks, Ethereum, Dfinity, and other major networks.
The growing competition in the blockchain-powered handset space can ultimately prove beneficial to its supporters.