HTC introduces mining Monero in its smartphones
The technology company HTC announced its intention to introduce the possibility of mining anonymous cryptocurrency Monero (XMR) into the EXODUS 1S line of smartphones. About it writes The Block.
To implement this initiative, HTC has partnered with ASIC Midas Labs, a chip developer, and manufacturer.
Already in the second quarter of this year, an application called DeMiner will be developed, which will automatically deactivate the mining process at the time of direct use of the smartphone, as well as when the charger is disconnected.
Phil Chen, head of the blockchain business at HTC, noted that DeMiner will help decentralize mining and make it “cost-effective”.
“The world of cryptocurrencies is in jeopardy due to the dominance of the hash rate of giant mining pools. The most effective way to resolve this problem is to make mining accessible to the masses, including using mobile devices. This application makes mining on smartphones cost-effective, which provides incentives to individual network participants and helps to decentralize cryptocurrency, ”Chen stressed.
According to Midas Labs, mining XMR on desktop computers is no longer economically viable. For example, an average laptop can produce XXR, equivalent to about $ 0.06 per day, consuming 65 watts of electricity, which costs about $ 0.156.
“Midas Labs gives EXODUS 1S users the ability to mine at least $ 0.0038 daily at Monero with energy consumption of 50% of production,” said Jri Lee, founder of Midas Labs and professor at Taiwan National University.
The technology company HTC announced its intention to introduce the possibility of mining anonymous cryptocurrency Monero (XMR) into the EXODUS 1S line of smartphones. About it writes The Block.
To implement this initiative, HTC has partnered with ASIC Midas Labs, a chip developer, and manufacturer.
Already in the second quarter of this year, an application called DeMiner will be developed, which will automatically deactivate the mining process at the time of direct use of the smartphone, as well as when the charger is disconnected.
Phil Chen, head of the blockchain business at HTC, noted that DeMiner will help decentralize mining and make it “cost-effective”.
“The world of cryptocurrencies is in jeopardy due to the dominance of the hash rate of giant mining pools. The most effective way to resolve this problem is to make mining accessible to the masses, including using mobile devices. This application makes mining on smartphones cost-effective, which provides incentives to individual network participants and helps to decentralize cryptocurrency, ”Chen stressed.
According to Midas Labs, mining XMR on desktop computers is no longer economically viable. For example, an average laptop can produce XXR, equivalent to about $ 0.06 per day, consuming 65 watts of electricity, which costs about $ 0.156.
“Midas Labs gives EXODUS 1S users the ability to mine at least $ 0.0038 daily at Monero with energy consumption of 50% of production,” said Jri Lee, founder of Midas Labs and professor at Taiwan National University.