(Pocket-lint) - HTC is making a blockchain-powered phone.

For those of you scratching your head, watch this John Oliver video on cryptocurrency and read our guide on Bitcoin, a popular type of cryptocurrency. It's an abstract concept, but essentially, cryptocurrency is made possible due blockchain technology. Blockchain has been gathering steam in the enterprise sector, but aside from cryptocurrency, it's yet to achieve mass-market recognition.

HTC is hoping to change all that, as it told The Next Web that it's developing a new Android phone that will be powered by blockchain. Called Exodus, it will uniquely feature a universal wallet and a built-in secure hardware enclave. Exodus will support not only cryptocurrencies but also decentralised applications. HTC also hopes to create a native blockchain network for all Exodus phones.

These phones will act as nodes on the network and will enable trading of cryptocurrency among Exodus users. HTC's Phil Chen, who created the HTC Vive headset and is now spearheading the company's blockchain efforts, has confirmed that, through Exodus, HTC will support Bitcoin, Lightning Networks, Ethereum, Dfinity, and more. "We would like to support the entire blockchain ecosystem," he said.

HTC plans to announce even more blockchain protocol partnerships in the coming months. It may even accept cryptocurrency as a form of payment for the phone, which has yet to be given an official price tag. As a consumer, the advantage of using Exodus, or any blockchain phone, is that you you'll get better security and access to integrated cold wallet storage directly on the device.

You'll also be able to easily trade with peers on the phone’s network - without any mining fees.

Writing by Elyse Betters.