Solana price explodes after release of Saga

The Solana course explodes after the release of Saga. Under this name, they are developing their own smartphone together with a Californian manufacturer called OSOM. That should convince both the crypto scene and normal users.

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SOL price explodes

After a tough winter triggered by the FTX crash, Solana (SOL) is finally on the mend. At the time of writing, the currency of the smart contract platform is trading at USD 25.00 and has recently recorded a growth of 23 percent.

As a result, Solana succeeds in re-entering the ten largest cryptocurrencies by market capitalization. The total value of the cryptocurrency is currently 9.8 billion US dollars.

On January 1, 2023, SOL was down to 17th place. On October 30, 2022, just before FTX collapsed, Solana was also in 10th place. A few days later, confidence in the digital currency dropped significantly, as FTX acted as a major sponsor.

Solana is currently one of the top 100 most successful winners in the weekly trend. Only four other cryptocurrencies have seen more significant gains over the past seven days.

Smartphone Saga drives bull market

Blame the bull market on Solana Saga – a smartphone that the developers of the smart contract platform Solana Labs are selling in cooperation with OSOM. OSOM developed the smartphone under the name OV1.

Both brands announced a collaboration last year. The two companies officially released the device yesterday. The OV1 was renamed Solana Saga without further ado. While OSOM is responsible for the production of the devices, Solana is working on its own functions.

This is mainly about a so-called Seed Vault . It’s a sealed part within the smartphone that, according to Solana CEO Anatoly Yakovenko, “is as close to a hardware wallet as it gets.”

In a previous statement, Solana describes it as an “operating system within the smartphone’s operating system.”

4/7

Saga's Seed Vault lives in what's called a "Trusted Execution Environment."

It’s runs a separate, single-purpose mini operating system from what runs Android.

It can't be accessed by normal phone operations, or even screen-captured by Android.

It's one layer deeper.
— Solana Mobile 2️⃣ (@solanamobile) January 12, 2023

This Seed Vault stores the user’s private keys. Web3 applications communicate directly with the Seed Vault, which never reveals the sensitive data. Instead, he uses zero-knowledge proofs.

In this way, on the one hand, security for users should be increased and, on the other hand, the convenience of using Web3 should increase significantly. Solana believes that this recipe will pave the way for mass adoption.

In fact, however, the Saga is not the first device to implement these wishes. The Taiwanese company HTC already presented a device called Exodus, which also wanted to inspire with native support for cryptocurrencies. It is considered a moderate success. The same applies to a smartphone called Finney, which is produced by Sirin Labs.

The Solana Saga will begin shipping in the US on April 20th. In Europe interested parties have to wait until May 8th. It is available for purchase for US$1,000.

Solana Labs supplies pre-installed software with the device, with which crypto users can jump straight into the Web3. So that cryptocurrencies do not have to be purchased first, 20 USD coins and 0.01 SOL are also included.

Solana launches its own app store

At the release event, Yakovenko criticized Google and Apple for policies that both companies implement in their app marketplaces Paly Store and App Store. Accordingly, it would hardly be possible for crypto apps to meet the requirements.

Corporate policies are outdated. It was therefore necessary to create a new marketplace. Solana calls it the dApp Store . It should become the largest collection of crypto applications.

Installation is said to be extremely easy, even for rentals, as the apps interact directly with the Seed Vault. Extensive automation should lead to a high level of user comfort.