In the future, an increasing amount of cryptocurrency mining is going to be done on mobile phones. This may come as a shock, even to some seasoned cryptocurrency investors who are used to using powerful GPUs equipped with ASIC chips to perform all the complex calculations. But that’s all changing.
One of the cryptocurrencies at the forefront of leading this revolution is Monero. Monero was launched in 2014, and places the privacy and security of its investors first, prioritizing this over ease of use. It is also a decentralized cryptocurrency, operated by a network of users.
In spite of this, Monero can be mined at home without needing a cloud mining service. Additionally, it also possible to mine this cryptocurrency using either a PC or, thanks to recent technological developments, a mobile phone.
XMR Mining on HTC Phones
Cryptocurrency miners will be able to turn their HTC smartphones into cryptocurrency mines with the upcoming currency mining app, DeMiner. The app is due to be launched in mid-2020.
HTC has been developing an expertise over a number of years as being a company that produces mobile phones powerful and sophisticated enough to mine cryptocurrency at home, independent of large mining pools.
Now, a mobile phone is obviously not as powerful as a desktop, or even laptop computer, meaning that you will not be able to extract the same amount of currency per day as you would using a larger, more powerful device. This cuts both ways however, and the fact that a HTC smartphone uses less electricity than a laptop or a desktop means that it actually has an improved profit margin when compared to these larger machines.
Furthermore, using a mobile phone to mine cryptocurrency isn’t all about the bottom line: there’s an ideal at stake here too. Mining cryptocurrency on a phone could also have a decentralizing effect on blockchains, and do something to combat the trend of large pools of cryptocurrency becoming concentrated in giant mining…