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Saturday, August 18, 2018
Sirin Labs Joins Hands With Ethereum: Bids Farewell to IOTA
Ethereum News

Sirin Labs Joins Hands With Ethereum: Bids Farewell to IOTA

Sirin Labs will now be joining hands with EThereum after bidding farewell to IOTA. Sirin Labs made this announcement on the 7th of August.

Their initial announcement mentioned them using the Tangle DLT for their blockchain phone ‘Finney’. But, now they will be using the Ethereum Blockchain.

As per the CEO of Sirin Labs, Moshe Hogeg, Sirin labs will be giving nodes that their new phone ‘Finney’ will use.

Nimrod May, the Chief Marketing Officer of Sirin Labs confirmed with the CEO stating that they will be utilizing the Ethereum blockchain at the launching stage. They will not use the main chain but will use the private chain.

Furthermore, he added:

“Our plan since the release of our whitepaper has always been to migrate the SRN token and Sirin Labs ecosystem to a next-generation blockchain.”

Nimord Mentioned that they thought of considering both Cardano as well as IOTA but neither had the blockchain technology that they wanted.

The latest project ‘Finney” includes a smartphone and a computer that will operate on a public operating system called Sirin OS. The designing of the operating system was done in a manner that it will possess all applications of blockchain including wallets, secure exchange access, encrypted communications and a user-to-user ecosystem for purchasing and applications backed by the Labs’ SRN token.

So far no exact date of releasing ‘Finney’ is given by them. However, it was stated that the launch will take place somewhere in November end and will be available for purchase right after that.

The price of Iota went up to $0.96 form $0.78 on 3rd August but within a few hours, IOTA [MIOTA] saw a considerable drop in its price from $0.81 to $0.74, after the announcement was made.

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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.