Taiwanese electronics manufacturer HTC is making its first venture into the blockchain space by introducing a new model of mobile phone which can securely store cryptocurrencies and their private keys.

HTC is most widely known for manufacturing mobile phones.

The company was most successful between the years of 2010 and 2013 when it released three separate models which were integrated with an early version of the Facebook application.

Over the past few years, however, HTC has had a tough time competing with other popular mobile phone manufacturing giants like Apple, Samsung, and even other Asian brands like Oppo and Huawei.

It seems, however, that HTC is gunning for a comeback by jumping on the blockchain train and introducing the Exodus 1 — a flagship model smartphone which aims to create a decentralized network of mobile devices capable of securely storing cryptocurrency and private keys.

According to CNBC, the Exodus 1 runs on both the Android operating system as well as a secondary isolated operating system developed by SoftBank Arm Holdings.

HTC is not the first to the blockchain-phone party.

Two weeks ago, Pundi X debuted its version of a blockchain-based mobile phone at the XBlockchain summit in Bali. Sirin Labs also has a blockchain smartphone set to launch in November which it is calling The Finney, and is endorsed by footballer Lionel Messi.

One unique ‘feature’ that HTC is touting with the new Exodus 1 is that it is only able to be purchased using Bitcoin or Ethereum — 0.15 BTC or 4.78 ETH more specifically, equal to about $960.

At such a high price tag, on par with Apple’s and Samsung’s latest models, will people begin to adopt cryptocurrency at a quicker rate through mobile phone-backed storage and security measures?

Are you considering switching from a traditional mobile phone to a blockchain-based phone? Could HTC’s new phone pull the stock’s price out of its slump? Let us know your thoughts in the comments below!