Sirin Labs is a rather controversial project. This company is known for the Finney smartphone, which is considered the first blockchain phone available for purchase. Sirin Labs is also known for one of the most successful ICOs in the industry. Their project raised over $150 million from the sale of the SRN token. The negative aspects of fame are associated with release delays and management problems.
In this article we will tell you about Sirin Labs, the specifics of its token and the potential opportunities for the growth of the project. We are not affiliated with the project and are writing this review without any sponsorship.
What are Sirin Labs and Finney
Sirin Labs is a company registered in Switzerland in 2014, with branches in England and Israel. The main product is a smartphone on the blockchain. It retails for $899, which puts it on par with the iPhone X, Samsung S10 and other high-end phones. The company also develops software and related applications for Finney Phone.
Although from the online hype you might think that Finney was the first blockchain phone, this is actually not the case. Sirin Labs' first phone is Solarin. It became the first secure phone and was released in 2020. But its price of 14,000 did not encourage mass adoption.
Finney's lower price makes the phone more affordable. But at the same time, strong competitors appeared: HTC Exodus 1 and Samsung S10.
Finney includes:
- built-in wallet for cold storage of cryptocurrencies,
- encrypted messages,
- dApps center,
- internal token exchange service.
These features use proprietary technologies such as MAC address randomization and IP hiding.
The phone comes with Sirin OS, which is a fork of Google Android. The developers claim that their operating system is adapted for storing cryptocurrency. Other features remain similar to stock Android, including the ability to install apps from Play.
Finney - the world's first blockchain smartphone
The company Sirin Labs, which has already distinguished itself by releasing the luxury Android smartphone Solarin worth $14 thousand, is currently working on creating a mobile device based on blockchain technology.
Telegram channel of the creator of Trashbox about technology
Finney, named after technology pioneer Hal Finney, will be the world's first blockchain smartphone that is completely secure for storing cryptocurrency. According to company representatives, there are plans to create a whole line of devices, which, in addition to smartphones, will include tablets, laptops and all-in-one PCs.
All of them will work on a blockchain network based on IOTA's Tangle technology. This network uses the SRN token as its default currency and is independent of centralized backbone networks that clutter the transaction process. Accordingly, only holders of SRN tokens will be able to purchase this device.
“Sirin Labs is committed to becoming the global leader in secure, open-source consumer electronics in the blockchain era, providing secure access to the digital world for everyone, and creating an ecosystem where people can directly share resources and make free transactions,” said one of the company’s founders. Kenes Rakishev.
Finney's software will be the Shield OS operating system based on Android, specially created to work with cryptocurrency wallets and securely exchange them. Of course, in addition to its main task, Finney will receive all the functions of the phone. As for the technical features of the device, it is reported that it has a 5.2-inch display with QHD resolution, 8 GB of RAM and 256 GB of internal memory, 16 and 12 megapixel cameras. Everything else should be at a high level.
The smartphone will receive an impressive set of security measures and a system of protection against unauthorized access and hacking. The cost of such a device is also appropriate - $1000. Some argue that Sirin Labs is ahead of its time by bringing products to market that are currently niche. Thus, the previous Solarin smartphone, aimed at business users, turned out to be practically unclaimed. Because of this, the company fired a third of its employees. Time will tell whether Finney's new blockchain devices will be popular.
Finney Phone Specifications
- Processor: Qualcomm Snapdragon 845
- Display: 6 inches, 18:9
- Memory: 128 MB
- RAM: 6 GB
- OS: Sirin, similar to Android 8.1
- Camera: 12 and 8 MP
- Screen: Corning® Gorilla® Glass
- Metal frame
- External memory card slot support: up to 2 TB Secure Digital Memory Card
- Additional Smart Screen wallet display (no connection to the phone itself)
- Supports NFC (A), NFC (B), Bluetooth 5.0, fingerprint login.
- Battery: 3280mAh
Smart Screen slides out from the back cover of the device. It is a screen for a cold wallet. The communication channel between the wallet and the phone is established only when transferring coins. This decision is controversial, judging by the reviews, since it is not always convenient to open the screen and enter the necessary information through its sensor.
This phone is being promoted as a secure solution, so its strengths lie mainly in that. Finney includes Sirin Cyber Security Center, which includes IPS (Intrusion Protection System) with real-time automatic learning, app whitelist, lock feature for individual apps (password or fingerprint protected), secure communications, and secure email.
In other areas, like technical specifications or design, it cannot compete with the big companies. There are still few opportunities in the dApps center, since decentralized applications are still in their infancy. This makes it unattractive for ordinary users who do not store millions in cryptocurrency. Sales of the phone were lower than expected. This is also due to the cooling of the public towards the topic of cryptocurrencies.
The company reduced its staff by 25% because of this. To stimulate orders, sales are often held on the official website. It is known that the code FINNEY150 still works and gives a discount of $150, so you can buy the phone for $749. Shipping is free and returns are available within 14 days.
Finney crypto smartphone from Sirin Labs was shown in Barcelona
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On November 29, 2020, a closed presentation of the new Finney from Sirin Labs Barcelona , the main highlight of which was support for working with popular cryptocurrencies , including their storage and transactions. The presentation was jointly held by Moshe Hogeg , co-founder of the company and chairman of its board of directors, entrepreneur from Kazakhstan, Kenes Rakishev and famous football player Lionel Messi , who is the official face of the brand.
When creating the “crypto smartphone” Finney, the goal was to make transactions with cryptocurrency more accessible and convenient for the mass user. To develop it and launch production, it was necessary to attract $157.8 million in investments through an ICO of the Sirintoken ( SRN ) cryptocurrency issued by the company. The production of the smartphone, developed in Switzerland and Israel, is carried out by Foxconn factories, which also produce products from such well-known brands as Apple and Microsoft under license. The new product runs Sirin OS , a modified version of the Android 8.1 of its own design, certified by Google . Sirin OS supports working with popular cryptocurrencies, including providing interaction with a physical cryptocurrency wallet built into a smartphone, as well as solving a number of information security problems using the principle of a distributed blockchain.
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Up until the official presentation, the characteristics of the new product were not entirely clear - data in official sources often changed and sometimes contradicted each other. I recently wrote in more detail about the characteristics and features of the Finney in a separate large article , so here I will only clarify those that remained in question until recently. It became clear that the smartphone uses a Qualcomm Snapdragon 845 , has 6 GB of RAM and a built-in 128 GB storage, microSD cards are supported. The 6-inch display has a resolution of 2160×1080 with an aspect ratio of 18:9. The smartphone cameras have a resolution of 12 MP (main) and 8 MP (front). The 3280 mAh battery charges 50% in half an hour, and fully in two hours.
Smartphones will be sold at a price of $999 through the official Sirin Labs , and from the beginning of 2020 they will be available on Amazon Launchpad. At the end of 2020 - beginning of 2020, they promise to open two branded offline stores - in London and Tokyo.
SRN token: historical rate, exchanges and prospects
Sirin Labs has released a token with SRN, which is intended for discounts on Sirin products, and in the future will be used throughout the ecosystem. ICO in 2020 raised $157 million. The funds were intended for the development of the Finney phone and the future Sirin OS computer.
Tokens were sold at $0.47 during the ICO. After its completion, in January 2020 there was a maximum price of $3.8. But after that, the token fell in a bear market, dropping significantly after the ICO. It didn't gain much traction in 2020, apparently due to sales issues and the founder's lawsuits (more on that in the next section).
SIRIN LABS Products
SIRIN LABS is developing its second generation products - the FINNEY smartphone and FINNEY all-in-one computer. These devices will run SIRIN OS, an open-source Android-based operating system with an ultra-secure cryptographic core.
In this section, we will consider only those products that are related to blockchain and cryptocurrencies. If you are interested in learning more about the SOLARIN phone, the first ultra-secure smartphone, you can read the manual on the official page of the SOLARIN brand, https://www.solarin.com/.
The SIRIN LABS product line will include the first smartphone for the blockchain community. The FINNEY smartphone is an ultra-secure and impeccably designed smartphone that will incorporate a unique blockchain and advanced cryptocurrency trading algorithms to ensure transaction integrity.
FINNEY™ Smartphone
Price range: ~$999
Blockchain Features:
- New operating system SIRIN OS.
- Secure P2P resource sharing.
- Built-in cold storage hardware wallet.
What does SIRIN LABS cyber protection include:
- Behavioral intrusion prevention system. (IPS)
- Full proof of unauthorized access based on blockchain.
- Physical security switch (to protect the wallet).
- Secure communication (VoIP, text, email).
- Three-factor authentication: biometric (retina and fingerprint), blocking pattern, behavioral protection.
Specifications:
- Display 5.2" QHD
- 256 GB internal memory
- RAM 8 GB
- Wi-Fi 802.11ac
- BT 5.0
- Main camera 16MP
- 12MP wide-angle selfie camera.
FINNEY™ PC
Price range: ~$799
Blockchain Features:
- New operating system SIRIN OS.
- Secure P2P resource sharing.
- Built-in cold storage hardware wallet.
What does SIRIN LABS cyber protection include:
- Behavioral intrusion prevention system. (IPS)
- Full proof of unauthorized access based on blockchain.
- Physical security switch (to protect the wallet).
- Secure communication (VoIP, text, email).
- Three-factor authentication: biometric (retina and fingerprint), blocking pattern, behavioral protection.
Specifications:
- Display 24″ 2K.
- Biometric security.
- RAM 8 GB
- 256 GB of total memory.
- Wi-Fi 802.11ac
It is built on a "thin client" practice with additional processing power such as (GPU/CPU/RAM) that can be added based on the SIRIN LABS P2P resource sharing protocol or cloud base service.
Where can I buy
You can buy SRN on the following exchanges:
| Name | Couples |
The SRN token is ERC-20, so if there is no Finney phone, they can be safely stored in any ERC-20 compatible wallet.
The prospects for the SRN token depend on the question: how many uses of the token are there and is it really necessary? During the ICO it was said that the token would be used as a utility token in the ecosystem. But if few phones are sold, then the ecosystem does not develop and there is no acceptance of tokens.
