The Solana phone, according to Yakovenko, a former Qualcomm engineer, is more likely to be a success than earlier attempts to sell phones that support bitcoin since there are more active cryptocurrency developers now than there were in 2018.
Solana Labs said that it will work with other companies, including Magic Eden, the top NFT (non-fungible token) marketplace, Phantom, the largest wallet provider, and Orca, a decentralized finance (DeFi) platform, to enable the ecosystem that will be utilized to construct the Solana web3 smartphone. Executives from all three firms were present to discuss the next mobile experience.
The marketplaces from Google and Apple, which deduct a portion of sales, were contrasted by the CEOs with the Solana phone app shop. Yakovenko stated that there will be no extraction fees for the SMS-powered shop.
On its SMS, the Solana Foundation made a $10 million pledge to support the development of mobile apps.
The Solana Mobile Stack "offers a new road forward on Solana that is open source, safe, optimized for Web3 and easy to use," said Yakovenko in a news release. "We spend our lives on our mobile devices - except for Web3 since there hasn't been a mobile-centric approach to private key management."
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