Il mining di Monero it is now possible too using your smartphone. To allow it will be HTC, the giant of consumer electronics that, in an announcement of April 10, confirmed the rumor that had been around for some time.
It will be the smartphone blockchain Exodus to adopt the application "Deminer" for mining Monero, thanks to an agreement signed with Midas Labs, a company that produces ASIC chips.
A real turning point
As is well known, the mining of virtual coins presupposes the use of devices with great computing capacity and, above all, energy-consuming. A need that has practically concentrated the activity in the hands of companies trained for this purpose and operating in areas of the globe where the cost of electricity makes mining profitable.
Despite this, HTC ensures that Exodus will be able to mine. In fact, DeMiner has been designed to automatically stop the block extraction activities when the device is being used, or when the charger is not connected.
New scenarios open up
It was Phil Chen, HTC's Decentralized Chief Officer, who illustrated the company's starting point, namely the finding that the use of the existing 3,5 billion smartphones for mining would lead to a significant increase in terms of decentralization and hash rate of the various networks.
The function of De Miner, in this scenario, was instead explained by Jri Lee, CEO and founder of Midas Labs. Just he remembered how the application was developed in such a way that a smartphone device can have a hash rate comparable to a desktop PC. The real difference, however, would be to be found in the much lower energy consumption. A real lock pick able to allow mobile phone devices to be used for cryptocurrency mining, as long as they are connected to electricity.
A way to democratize mining
As we have already mentioned, mining is currently aactivity practically confined to mining pools, that is to the consortia that are able to invest to find ever more powerful machinery and to set up production sites in countries that offer favorable conditions in terms of electricity costs. Countries like the China or l 'Iran, for example, where this activity is particularly flourishing.
In this way, however, a first ideological bastion of the crypto world is practically falling, that is the democratization of the system. With consequences of no small importance even in reality, if you think about what is happening in the universe of Bitcoin Cash, where in the last few days the hash rate of the cryptocurrency arisen after a fork of the most famous one has literally collapsed.
A lifeboat for the whole sector
The reduced convenience of the activity caused byhalving di BCH has pushed many miners to move towards more convenient solutions. In practice, only the miners most tied to a romantic idea that some observers call are resisting right now cryptosocialism.
In the case of other virtual currencies, however, this ideological charge does not exist and the consequence could be devastating when their block extraction activity was no longer considered profitable. Here because HTC's decision may prove providential for the entire cryptocurrency industry, not just for Monero.