The number of pre-orders for the second mobile phone model from the developers of the Solana blockchain and cryptocurrency of the same name reached 100,000 in a month. According to CoinDesk, the company raised $45 million for the release of the new device.
This groundbreaking device promises to bridge the gap between decentralized technology and everyday life in previously unimaginable ways. As we delve deeper into this revolutionary endeavor, let us explore how Solana created history and what lies ahead for this pioneering project.
The Idea Behind Solana Web3 Phone
Solana Mobile, a company from the developers of the Solana blockchain, announced in January a second smartphone model with support for crypto applications. The demand for the new device, referred to as Chapter 2, turned out to be so high that the company reached the goal of 100 thousand pre-orders of devices per month. Solana expects to begin shipping Chapter 2 mobile phones in the first few months of 2025.
“There are minimal costs for launching a new device,” said Solana founder Anatoly Yakovenko. “Thanks to pre-orders of $450 per device, the release of the second phone looks more cost-effective compared to the first experimental Solana phone for $1000”.
The new smartphone will have the same characteristics as its predecessor, which is called Saga: it runs on Android and has a built-in crypto wallet and a secure keystore for it, as well as a store of crypto applications.
“It is difficult to surpass Apple and Google in terms of technical characteristics, which their flagship smartphones are proud of. Therefore, we focused on functions related to cryptocurrencies. We are trying to create something that cannot be obtained on another device,” Yakovenko said.
Solana Web3 Phone Key Features
Solana’s developers have many ideas, the implementation of which should set their new phone apart from other models on the market in several ways:
- Blockchain integration: Solana Saga is deeply integrated with the Solana blockchain, allowing direct access to decentralized finance (DeFi) protocols, non-fungible token (NFT) marketplaces, and other Web3 applications;
- Security features: Solana Saga emphasizes enhanced security measures, including the Solana Mobile Seed Vault, which enables secure self-custody of digital assets;
- Web3-optimized user experience: The Solana Saga is designed to deliver a frictionless, mobile-first Web3 experience, helping to bring more users into the world of blockchain technology;
- Hardware Specifications: While sharing similarities with top-of-the-line Android devices, the Solana Saga boasts a powerful processor (Qualcomm Snapdragon 8+ Gen 1), large storage capacity (512GB), and plenty of RAM (12GB);
- Developer tools: The Solana Mobile Stack (SMS) is a set of tools provided by Solana Mobile to facilitate the development of mobile-friendly decentralized applications (dApps). This initiative encourages developers to create content tailored to the Solana Saga.
However, despite these innovations, the Solana Saga shares the same underlying operating system – Android – as other mainstream smartphones and may face challenges in terms of market acceptance and competition.
Difficulties on the Path
The first smartphone from Solana was not in significant demand when it was first released in mid-2023, for $1000. The company quickly lowered its price to $599, but this did not increase demand for Saga. Popular YouTube columnist Marquez Brownlee called Saga “the worst new phone of 2023” in one video.
The developers were going to abandon Saga, but in December the situation changed dramatically. Traders discovered that the device’s built-in wallet contained several Solana tokens, including Bonk (BONK), which grew almost 100 times from October to December 2023. Due to the high exchange rate of the Bank, Saga devices were sold out in a few days, and on the secondary market, they were sold at a price from $2000 to $5000.
What’s Next?
Although SAGA represents a significant milestone in the evolution of Web3 technology, industry experts anticipate even greater advancements on the horizon. For instance, some speculate about the potential integration of augmented reality (AR) capabilities within future iterations of the device, allowing users to visualize virtual worlds overlaid on physical environments.
In addition, there may be opportunities to leverage SAGA as a tool for remote voting, enabling secure and transparent democratic processes worldwide.
Aside from technological enhancements, Solana also plans to expand its ecosystem beyond the SAGA smartphone. They envision creating a broader range of products aimed at enhancing user experiences across various sectors, including gaming, social networking, and e-commerce.
Conclusion
With the introduction of SAGA, Solana has boldly ventured where no other company has gone before. Their innovative approach to bridging the gap between Web3 and consumer electronics holds immense promise for shaping the future of decentralized technology.
As the world continues to embrace the transformative power of blockchain, Solana’s latest offering serves as a testament to the boundless possibilities inherent in this rapidly evolving field.
