Solana Labs, the company behind the Solana blockchain, has announced that its crypto-focused smartphone, Saga, will be available for public sale on May 8. Pre-ordered devices are already being shipped. The Android smartphone is a bet on the future of crypto being mobile, according to employees at Solana-focused companies who spoke to CoinDesk. Almost 10 months ago, Solana first teased the potential of a cell phone that could double as a dedicated crypto hardware wallet, and the possibilities such a product could hold for its entire ecosystem. The new device will cost $1,000 and is built on hardware from Bay Area smartphone company OSOM. It has 512 GB of storage, two versatile back camera lenses, a 6.67 inch OLED display, and a fingerprint scanner. It will ship with the latest Android operating system installed.
What distinguishes Saga from other smartphones, according to Solana, is the “Solana Mobile Stack” (SMS), a lineup of custom add-ons that integrate crypto usefulness into the phone’s hardware and software. SMS has ingrained security features to provide for sending, receiving, trading, and storing crypto on the device. Saga’s secure element, the hack-resistant part of the smartphone where confidential information lives, is customized with a “seed vault” that stores a crypto user’s private keys. Keeping keys separate from the rest of the phone’s data makes them more secure, Solana says. Saga has a custom “dApp” store that only lists crypto applications. Currently, over one dozen applications covering crypto trading, inter-wallet communications, music, and digital collectibles are available for download, with more expected over time. Solana says it won’t impose “extractive fees” on dApp store apps, a dig at the 30% tax Apple and Google charge on their respective storefronts. Its dApp store is separate from Android’s “Google Play” (also on Saga).
The smartphone market is notoriously difficult to crack, and many companies have tried and failed to create crypto-forward smartphones. From HTC to small ones like Sirin Labs, previous efforts have set an ominous precedent for Solana, a device built for and marketed to a single crypto ecosystem. That ecosystem has taken a hit since June 2022, when Solana co-founder Anatoly Yakovenko unveiled the Saga at a New York City event that headlined Sam Bankman-Fried, the fallen FTX CEO and alleged crypto fraudster. Solana’s community of partisan developers and traders grew increasingly defensive even as some of Solana’s core technology repeatedly flailed. Nonetheless, going big on mobile may provide more than a chance at narrative reset. According to employees at Solana ecosystem booster, the Foundation, it’s an opportunity to put crypto in people’s pockets, where the rest of the digital world has already gone.
Solana’s Saga smartphone is an interesting and bold move towards integrating cryptocurrency into the mobile space. The smartphone has been in development for almost a year and is finally available for public sale. It is built on hardware from Bay Area smartphone company OSOM and has a 512 GB storage capacity, two versatile back camera lenses, a 6.67 inch OLED display, and a fingerprint scanner. The device will ship with the latest Android operating system installed.
Solana’s Saga is unique because of the “Solana Mobile Stack” (SMS), a lineup of custom add-ons that integrate crypto usefulness into the phone’s hardware and software. SMS has ingrained security features that provide for sending, receiving, trading, and storing crypto on the device. Saga’s secure element is customized with a “seed vault” that stores a crypto user’s private keys, making them more secure. The smartphone has a custom “dApp” store that only lists crypto applications. Currently, over one dozen applications covering crypto trading, inter-wallet communications, music, and digital collectibles are available for download, with more expected over time. The dApp store is separate from Android’s “Google Play” (also on Saga).
Solana’s Saga is not the first crypto-forward smartphone, and many companies have tried and failed to create a successful product. However, the company is betting on mobile being imperative to the future of crypto. According to employees at Solana-focused companies, going big on mobile is an opportunity to put crypto in people’s pockets, where the rest of the digital world has already gone. The smartphone is marketed to a single crypto ecosystem, which has taken a hit since June 2022, when Solana co-founder Anatoly Yakovenko unveiled the Saga at a New York City event that headlined Sam Bankman-Fried, the fallen FTX CEO and alleged crypto fraudster. Nonetheless, Solana is optimistic about the Saga’s success and believes it has a unique offering that sets it apart from other smartphones.
The Saga smartphone is a gamble for Solana Labs, but it could pay off if the device is successful. The smartphone is built for and marketed to a single crypto ecosystem, which is a risky strategy. However, Solana believes that mobile is imperative to the future of crypto and that the Saga has a unique offering that sets it apart from other smartphones. The device has a custom “dApp” store that only lists crypto applications, and Solana says it won’t impose “extractive fees” on dApp store apps, a dig at the 30% tax Apple and Google charge on their respective storefronts. The Saga’s success remains to be seen, but it represents an interesting and bold move towards integrating cryptocurrency into the mobile space.
