Crypto Mining By Mobile Phones



The recent times have seen the cryptocurrency area expand by leaps and bounds and the most recent watershed moment that the industry has seen is the introduction of mining cryptocurrency using mobile phones. Leaving the era of using hefty supercomputers to mine them behind, we are currently entering into a phase where modern users can mine virtual currencies with the convenience that comes with our handy smartphones.

Traditionally, the method of crypto-mining is a tenuous, time- intense task, with a dedicated computer hardware being needed to harness the power of a specialized graphics processing unit (GPU) chip or an application-specific integrated circuit (ASIC) to do so. In addition, a miner would need an uninterrupted net connection, an original software package for mining, and memberships with online crypto exchanges and mining pools. Using these, the miners compete with one another to resolve complicated mathematical problems to record transactions also as generate fresh currency. Hash values for unique data identification are solved  by miners to call dibs on a fresh block of currency while earning rewards.

However, 2018 has seen mining effectively move out of this hefty domain into a much more accessible one: one of the smartphones. While earlier we've seen mobile applications mimicking mining on phones, the foremost recent development permits users to truly harness the power of their mobile phone hardware to mine coins and generate fresh blocks of currency. With the hash rates going up to about 100 h/s depending on the model type or even more if the device hardware permits, mobile-mining can allow enthusiasts to carry on mining with greater mobility and ease than what traditional computers offered.

Interestingly, a new offering, the MIB coin, is ready to move into this space with its initial coin offering that opened up on 20th July. The coin is also likely to be listed in some of the biggest crypto exchanges in Hong Kong over the coming 2 months.

Keeping time, costs and power usage low, MIB coin is the latest providing in the mobile-mining space and offers a profitable way to mine cryptocurrency simply and comfortably for anyone with a smartphone. It looks like the boons of modern technology are boundless and we can only hope they never cease.

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