Late last year, the launch of the Web3 smartphone Solana Saga sparked a buying frenzy, with secondary market prices soaring to $15,000, driven by the value of various perks far exceeding the cost of the device itself. Many crypto users who missed the limited sale were left regretting their decision.

Recently, CoralApp, incubated by Binance Labs, officially announced the upcoming limited release of its first Web3 smartphone, CoralPhone. As the first BNB phone and multi-chain ecosystem aggregator, CoralPhone has stirred significant discussion within the community: “Is the BNB phone finally here? Will it usher in a new wave of Web3 smartphone benefits?”

1. Multi-Chain Ecosystem Smart Web3 Gateway

Dubbed the first “AI flagship phone” in the Web3 space, the CoralPhone is a dedicated smartphone for Web3 users, launched by CoralApp. Catering to diverse demands across different countries and regions, CoralPhone will offer high-end, mid-range, and budget models, all built on an Android-based architecture. The phone features system-level optimizations with a customized OS and is equipped with top-tier AI chips in the mobile industry. This innovation integrates AI-driven technology with DePIN services, bringing a new level of smart hardware and foundational system infrastructure to the crypto industry and serving as an entry point into the Web3 world.

Founded in 2020 and headquartered in Dallas, Texas, CoralApp currently has a valuation of $150 million. The company was incubated and funded by Binance Labs, with additional investments from Unicornverse, Gate, Skry Labs, AC Capital, PAKA, and OX Consulting in the first round. The second round of investors is expected to be announced in Q4 2024, with the funding scale likely to surpass that of Solana’s Saga phone project.

Dr. Bunmi Babajide, founder of CoralApp, has assembled a leading team in the software and hardware services sector, including North American internet hardware PhDs and authoritative experts in Web3 security. The team boasts talent with original code development and optimization patent experience. In hardware manufacturing, CoralApp is the first Web3 phone project to sign procurement agreements with hardware manufacturers in twelve countries, ensuring comprehensive global production, delivery, logistics, and network access services.

As CoralApp is the first Web3 phone project incubated by Binance Labs, many have instinctively labeled the CoralPhone as a “BNB phone,” similar to the positioning of Solana’s Saga phone. However, CoralApp’s true focus is on supporting a multi-chain ecosystem through hardware and OS-level Web3 gateways. While CoralApp initially supports the BNB Chain ecosystem, it has also collaborated with over 150 projects in prominent blockchain ecosystems such as Solana, Scroll, Swan, and Tap. Future partnerships will continue to expand, offering a diverse range of benefits and rewards to CoralPhone users.

2. What Are the Advantages and Benefits of Dedicated Web3 Devices?

Today, nearly everyone uses a general-purpose smartphone to access Web3 applications, so why switch to a dedicated Web3 device? To draw a parallel, consider the recent buzz around the game “Black Myth: Wukong.” Many are debating whether to use a general-purpose Windows PC or a specialized device like the PS5 to play, given the high hardware requirements of AAA games. The PS5, as a dedicated gaming device, offers significant optimizations in hardware, system, and application platforms. While a PS5 costs around $450, a comparable PC setup would cost $800 to $1,000, and still require complex processes like downloading, installing, and configuring software. In contrast, the PS5 offers a seamless “plug-and-play” experience right out of the box, highlighting the benefits of specialized hardware.

So far, there are more than 400 million cryptocurrency users worldwide, and Web3 has become a mainstream industry. The demand for dedicated devices is growing, and the Coral Phone is a prime example of how such devices can offer several advantages and benefits:

1. Exclusive Ecosystem Bonuses from Official and Third-Party Partnerships Benefits! Benefits! Benefits! Let’s emphasize this three times because the rewards in Web3 projects, especially in emerging sectors, can be massive. Early participants often see substantial gains, and currently, the Web3 smartphone sector is characterized by high costs and significant upfront investments, making it a niche for strong players. As a result, early rewards tend to be concentrated, particularly for early adopters. The first-generation Solana Saga users are a good reference point for this. For multi-chain users, Coral Phone, due to its wide range of partnerships, will likely offer even more extensive benefits.
   With the imminent release of the Coral Phone, early adopters can enjoy lower prices and a wide array of ecosystem perks. The reason behind this is that high-quality Web3 projects recognize the underlying value of Web3 smartphone projects and ecosystems: they provide a low-barrier entry for new users and serve as a hub for high-net-worth target users. Users willing to invest in and test out innovative Web3 smartphones are likely deep Web3 enthusiasts, highly sought after by major crypto communities. Additionally, an OS-level Web3 entry point will bring many opportunities for customized DApp optimization, attention marketing, and other collaborations. Third-party projects will be keen to distribute tokens and other benefits to Web3 smartphone users.

2.Zero-Barrier Entry-Level User Experience from Underlying Optimizations
Over the past few years, the entire crypto community has been exploring ways to reduce entry barriers and improve user experience, such as scaling solutions and account abstraction, to pave the way for mass adoption of future Web3 applications.
Even though crypto assets have become mainstream, people still face varying levels of difficulty when using Web3 applications on their smartphones. Take, for example, basic crypto wallets, platform apps, and the “Google Authenticator” app. Android users need to install Google Play, and Apple users might need to switch their App Store region. These seemingly simple operations often deter most beginners. If you suggest they search online and download the app, they risk encountering viruses or malware, leading to asset theft.
When newcomers ask for help installing wallets, Google Authenticator, and other apps, it’s fair to say that the complexity cannot be resolved with just a few words. This is where a Web3-friendly smartphone becomes essential—one with an inbuilt secure encryption chip to manage wallets, a preloaded app store that allows direct downloads without restrictions, market tracking software, and alerts. Such a smartphone, optimized for Web3 users, would make onboarding as simple as turning on the device.

1. A Safer Environment for Running and Interacting with Web3 Apps and DApps Given the nature of handling cryptocurrency transactions and on-chain interactions, one of the essential requirements for a dedicated Web3 device is enhanced security. Compared to general-purpose smartphones, specialized devices like Coral Phone can provide a more secure environment for running and interacting with Web3 apps and DApps.
   To put it simply, the smartphones we use daily typically have a wide variety of third-party apps installed and are used to browse numerous websites. These apps constantly request various permissions from the operating system, such as uploading files, accessing clipboard data, taking screenshots, viewing photo galleries, and more. This creates a relatively complex system environment on general-purpose devices, which can be concerning when dealing with asset interactions in Web3 applications.
   Dedicated devices can mitigate and optimize these security concerns. Take Coral Phone as an example: it is optimized at the system level to provide a clean and secure environment for running and interacting with crypto-related apps and DApps. Custom-built system-level security rules and policies can isolate the risks of daily usage while improving the management of sensitive permissions. Additionally, the pre-installed app store, as mentioned earlier, can categorize applications and employ teams with extensive experience in crypto security audits to assess the safety of Web3 apps hosted on the platform.
   Naturally, as a specialized Web3 hardware device, the security of Coral Phone itself is a key concern. So, can Coral Phone ensure the security of its software and hardware?
   On the hardware side, Coral Phone is as transparent as general-purpose smartphone components. It comes equipped with a secure encryption chip to manage sensitive operations. Much of its software is open-source, facilitating external audits and supervision. CoralApp can also undergo security audits by professional security teams. As a connected Web3 entry device, users are encouraged to store only small amounts of funds in hot wallets for DApp interactions and rewards, while using it as a view-only wallet in combination with offline signing devices to further enhance security.
2. Unlocking the Potential of DePIN and AI
   According to the official CoralApp roadmap, Coral Phone’s high-end models are not only aiming for top-tier smartphone specifications but also plan to evolve into smart devices with DePIN services and AI capabilities.
   Specifically, the DePIN (Decentralized Physical Infrastructure Networks) sector currently faces challenges such as the diversification of IoT devices and the high costs of design and deployment. Additionally, many Web3+AI projects have special requirements for AI chips. Coral Phone leverages its customizable hardware and OS to optimize for DePIN, potentially serving as an IoT device itself, while incorporating the latest AI chips to provide relevant services.
   In summary, Coral Phone not only meets the requirements for a Web3 entry point but also aims to venture into the future DePIN and AI sectors. By embracing cutting-edge technology hardware, Coral Phone seeks to capture the benefits of both sectors, unlocking the potential of DePIN and AI.

3.How Does Coral Phone Differ from Solana Saga?

When comparing the two currently popular Web3 smartphone projects, CoralPhone and Solana Saga, it becomes evident that CoralPhone offers several advantages over Saga. While both devices provide multi-chain benefits, CoralPhone has gone further in optimizing the system, applications, and community support. Additionally, CoralPhone’s future models are expected to cater to a wide range of Web3 users across different countries and regions, with high-end, mid-range, and entry-level options, making it more user-friendly and conducive to market expansion.

4.Is CoralPhone Worth the Investment?

Based on the official information available, CoralApp’s dedicated Web3 device appears to be quite promising. Unlike projects that remain in the concept stage, relying solely on presentations, CoralApp has already invested heavily in securing upstream and downstream partners, conducting extensive R&D, production, and testing. The upfront costs are significant. However, the ultimate question for users remains: is CoralPhone worth the investment? After careful analysis, we believe that its value can be highlighted in the following key areas:

1. Special Benefits and Rewards
   As previously mentioned, beyond CoralApp’s own ecosystem tokens, the company has already established partnerships with numerous well-known blockchain ecosystems such as BNB Chain, Solana, Scroll, Swan, and Tap. More collaborations are expected to continue expanding in the future. The most significant benefits will likely come from top-quality projects. Additionally, as a device designed for DePIN and AI capabilities, CoralPhone could also serve as a specialized device for mining high-quality projects in the DePIN and AI sectors. In essence, CoralPhone could be seen as a multi-chain Web3 hardware “aggregator” that offers a wealth of rewards right out of the box.

2. Hardware Cost-Effectiveness
   [Further explanation on hardware cost-effectiveness to follow, based on additional details you might want to provide.]

Based on the available hardware specifications, the CoralPhone’s current model aligns with a mid-range smartphone configuration. According to a CoralApp representative, the production cost of the Coral Neural 3 (mid-range) model is around $300 purely for hardware. When you factor in the substantial upfront investment in software and hardware design, development, and other related costs, the early bird price of $499 and the regular price of $699 seem quite reasonable.

1. Support from Top-Tier Institutional and Platform Ecosystems
   Being a project incubated and invested in by Binance Labs, CoralPhone benefits not just from funding but also from the extensive resources within the Binance ecosystem, the world’s largest crypto asset platform. This includes promotional support, traffic, and easy access to collaborations with high-quality projects, which can significantly amplify CoralPhone’s reach and success.

2. The Untapped Potential of the BNBChain Ecosystem
   It’s well-known that the BNBChain ecosystem hasn’t performed particularly well during the current bull market, with the ecosystem remaining relatively subdued. BNBChain urgently needs innovative and high-quality projects like CoralApp to inject new vitality and help the ecosystem emerge from its slump. By being the first Web3 smartphone project to almost exclusively support the BNBChain ecosystem, CoralPhone stands to gain unique advantages as the BNBChain ecosystem begins to recover and grow.

3. Future Development Prospects
   CoralApp’s current strategic layout indicates its ambition to excel in both Web3 smartphone hardware and software. The focus is on creating a comprehensive product suite (including Coral Phone, Coral OS, Coral Mobile Stack, and CoralApp) that positions Web3 hardware devices globally as new gateways for user traffic. By opening up to third-party project collaborations, CoralApp aims to build a multi-chain interconnected Web3 ecosystem platform based on its hardware and underlying OS support.

This approach is somewhat reminiscent of Xiaomi’s ecosystem strategy in the mobile internet era. Xiaomi focused on hardware, OS UI, and app store development while managing the ecosystem platform, making its smartphones a crucial entry point for mobile internet traffic. By opening up various capabilities and interfaces to allow third-party projects to integrate, Xiaomi eventually became one of the largest forces in the mobile internet ecosystem. CoralApp seems to be pursuing a similar strategy in the Web3 space, aiming to become a dominant platform by leveraging its hardware and ecosystem to attract a broad user base.

5.Conclusion

The upcoming CoralPhone is undoubtedly a strong contender in the Web3 smartphone sector. Not only does it offer users new opportunities for rewards, but it also introduces a low-barrier entry point for the Web3 industry. Through innovation and the exploration of DePIN and AI potential, CoralPhone is paving a new path for the development of Web3 devices. It is a product that warrants close attention from the crypto community. Whether CoralApp can continue to deliver more benefits in the future remains to be seen, and only time and market performance will tell. We eagerly await the outcome.

Disclaimer:

1. This article is reprinted from [Baihua Blockchain], with copyright belonging to the original author, Bob. If there are any objections to the reprint, please contact the Gate Learn team, and the team will address the issue promptly according to the relevant procedures.
2. Disclaimer: The views and opinions expressed in this article are solely those of the author and do not constitute any investment advice.
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