Solana Labs recently announced a big move into the smartphone space. Part of that would involve the development of a mobile software suite that could be a game-changer.
On June 23, the company behind the Solana blockchain unveiled Solana Mobile Stack (SMS). The software suite is a Web3 platform and ecosystem for Android. Its aim is to enable Web3 decentralized applications (dApps) to run on Web2 smartphone software.
Additionally, Solana will also produce its own smartphone called Saga due for launch in Q1 2023. The device will be a high-spec, crypto-enabled smartphone retailing at around $1,000.
On June 26, Solana payments infrastructure developer “@mtnPay” explained why this was such a big deal.
1/🧵
SMS is so Bullish.
Solana is paving the way for a mobile design space, launching the Solana Mobile Stack (SMS) with integration via Saga.
SMS is a web3 toolkit on Solana for native Android apps.
yall don't realize how big of a banger SMS is for payments…
👇🏼👇🏼👇🏼
— SMS mtnPay.sol (@mtnPay) June 25, 2022
Secure Mobile Payments
He stated that payments can be made specifically on the phone, or on devices in proximity. SMS on Solana Pay increases this functionality with “tap-to-pay,” QR codes, NFT taps, and messages and browser interactions.
Furthermore, private keys, seeds, and secrets never leave the secure execution environment. User interface components built into Android handle interactions, providing a secure experience. There is also a Seed Vault that can sign transactions on the go.
This advances the commerce experiences, opening up a native payments user experience, he added. “The door has opened to bring native Solana wallet and dApp interactions to mobile operating systems.”
In fact, any major Android device can implement SMS, providing it has a security layer. Additionally, the software could provide a major boost to crypto adoption with secure fiat on/off ramps.
Furthermore, the Solana mobile development environment has already begun with $10 million in grants, he reported. This could also attract developers from Android into the Solana ecosystem to increase Web3 offerings in its own dApp store.
You preordered Saga – how do you plan to use it?
— Solana Mobile (@solanamobile) June 27, 2022
On The Flip Side
As with all things crypto, there are cons to counter the pros. Solana has gained a bad reputation recently for reliability. In less than a year, the network has suffered at least seven full or partial outages. If Solana is to become a premier Web3 mobile software provider, it really needs to address these reliability issues.
Furthermore, there are also centralization concerns. Everyone knows that Google is fully centralized, but so is Solana to some extent. The network is heavily venture capital backed, giving them more control over governance voting. Additionally, just a handful of validators have the power to shut down operations (as they did during the last outage in early June).
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