Thanks to the DeMiner application, Monero can be dismantled on the HTC EXODUS mobile phone

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Thanks to the alliance between HTC and the ASIC mining chip design company Midas Labs, users of EXODUS mobile devices can now mine cryptocurrencies such as Monero (XMR) via the DeMiner app

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The alliance between HTC y Midas laboratories enables cryptocurrency mining for users of mobile devices that are activated with Blockchain from HTC Exodus. Now these users will be able to extract Monero (XMR) directly from your smartphone HTC EXODUSwith the application DeMiner from Midas laboratories.

This has been reported by the media CryptoNinjasand added that the application was developed by the chip design company ASIC It will be available for download in the second quarter of 2020.

HTC y Midas laboratories Allow mining Monero (XRM) on EXODUS phones

Phil Chen, decentralized CEO of HTC, a major Taiwanese consumer electronics company, said about the alliance:

The world of cryptocurrencies is threatened by the dominance of the hashrates through huge mining basins. The most effective way to solve this problem is to make mining accessible to the masses, using a cell phone.

How this could be possible, Chen added:

This app makes smartphone mining profitable, offers incentives for individual miners and helps decentralize the network. This is the first step and the possibility to extract Monero, a data protection-oriented token that adapts very well to the vision of EXODUS.

Not on desks yet

Monero (XMR), the data protection-oriented cryptocurrency, adopted a new CPU-compatible algorithm called RandomX in November 2019, he said CryptoNinjas. However, it’s still not an inexpensive way to mine on a desktop.

To Midas laboratoriescan extract a typical laptop XMR That’s about $ 0.06 a day when using 65W of electricity, which costs about $ 0.156 a day.Generate losses“”

Offer mining electricity to mobile teams

Dr. Jri Lee, founder and CEO of Midas laboratories and professor at National Taiwan University, said: “This is how we developed the DeMiner application A smartphone device has a hashrate that is comparable to that of a desktop computerand use a lot less energy. In this way, mobile devices can be suitable for cryptocurrency mining (in a connected state) for the first time“”

Lee added:

We restructure and optimize mining for mobile devices based on open source frameworks. Midas Labs allows EXODUS 1S users to mine an average of at least $ 0.0038 XMR per day, while electricity costs are less than 50% of that.

Lee claimed this in relation to the future of the alliance and the plans to execute it Midas laboratories It will deepen the decentralization process by providing hardware-related solutions for the cellular industry. He said that too Midas seeks to work with Exodus to provide an even simpler environment for enthusiasts Blockchain

I want to revolutionize crypto mining

According to the announcement, decentralizing mining and increasing efficiency is an important goal for everyone HTC EXODUS, which is supposed to improve the security of Blockchain.

If you make mining on smartphones profitable, you can alleviate the problem of centralizing the supply chain and lack of practicality for the masses in the extraction of crypto.

CryptoNinjas said that The ability to mine on mobile devices is a big step forward for the crypto community. In this sense Midas laboratories tries to improve the performance of mobile mining.

The application DeMiner is designed for it Deactivate mining automatically if the phone is used regularly or if the charger is not connectedThe announcement says to relieve the phone’s normal operating standards.

First round of financing

Phil Chen, decentralized CEO of HTC and general partner of Proof of capitalsaid:

I am very pleased with our investment in Midas Labs, which use first-class semiconductor design in the field of mobile mining. It is important that his team has a central value in promoting decentralization and creating a more inclusive monetary and financial system.

Proof of capital is a high-tech venture capital fund managed by managing partner Edith Yeung (formerly) 500 startups), Phil Chen (ex Horizons) and Chris McCann (ex Greylock).

HTC has taken various crypto and related initiatives Blockchain. More recently, as reported DailyBitcointhe company introduced a router Blockchain This would allow customers to run a full Bitcoin node from home. The range of smartphones EXODUS It also has a built-in cryptocurrency wallet called Zion Vault.

Related articles

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Smartphone HTC Exodus will support Litecoin

EXODUS 1 phone HTC already supports the direct exchange between some cryptocurrencies

Hackers infected Oracle servers with malware to undermine them Monero

Asian companies said they were victims of malware that undermined the balance Monero with their teams

Sources: CryptoNinjas, The block crypto, CryptoNews.

Report by Arnaldo Ochoa / DailyBitcoin.

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