What is Sirin Labs Token?
Sirin Labs Token (SRN) is an ERC20 token with the primary purpose of being used to purchase the Finney blockchain smartphone, to be released in late November 2018. Finney advertises itself as “the first blockchain smartphone” and will have an estimated price of $999 on its release. It is a high-end smart phone with a built-in cold storage wallet, special connectivity options for DApps, and a host of other features which make it blockchain-friendly. It also incorporates advanced blockchain and cryptocurrency trading algorithms to ensure the integrity of transactions performed using its specially-designed operating system. In addition to purchasing the Finney phone itself, SRN tokens can also be used to purchase secure calls and messages bundles from Sirin Labs.
History of Sirin Labs Token
Sirin Labs was founded in 2016 by Moshe Hegog. During its crowdsale, mid-2017, Sirin Labs raised $157 million, making it the 4th largest ICO ever conducted at the time. In 2018, production development began on the Finney and Sirin Labs began to open brick-and-mortar stores for its sale. Pre orders of the Finney phone are expected to be shipped on November 30th, 2018, and Sirin Labs will roll out a blockchain-based desktop computer in 2019.
How Sirin Labs Token Works
SRN is an Ethereum-based utility token, in that not only is it the primary source of payment for purchase of the Finney phone but it can be used to purchase features and services within the phone as well. The Finney smartphone runs using SirinOS, an operating system specifically developed to handle Finney’s advanced capabilities. It is an Android-based operating system with an “ultra-secure cryptography core.” It also includes a distributed, scalable and ASIC-resistant ledger, meaning it is a blockchain-based operating system. SirinOS makes use of advanced methods to secure all of its cryptocurrency transaction that interface with the wallet, its internet connection, as well as its blockchain network.
Why Sirin Labs Token?
The purpose of the Sirin Labs Token is to be used to purchase the Finney blockchain smartphone. As a smartphone, the Finney has several advantages over other such phones, namely:
- Built-in cold storage wallet. Users can store coins and tokens from just about any blockchain, safely and offline, within the Finney cold storage wallet built into the phone.
- DApp support. Through its Decentralized Application Center (dCENTER), users can access and interact with a wide variety of DApps all from the Finney phone.
- Token conversion service. Users can convert tokens seamlessly directly through their Finney phone without the hassle of having to go through an exchange.
- Advanced cyber protection. SirinOS allows for its own Behavioral-based Intrusion Prevention System (IPS), which prevents unauthorized usage of the phone based on previously-established patterns in user behavior. In addition, it has a physical security switch for wallet protection, secured communications and a “three-factor authentication system” involving biometric, lock pattern and the aforementioned behavior-based IPS.
- BlockShield. BlockShield is Sirin Lab’s propriety software that safeguards its transactions, comprised of several safety layers built into the Finney phone and all subsequent devices to be manufactured by Sirin Labs. It includes a trusted display, IP address hiding and MAC address randomization.