The process of mining cryptocurrencies is still not available to everyone. An attempt to solve this problem was undertaken by the creators of the HTC Exodus smartphone, who ordered a special DeMiner application for it for mining Monero cryptocurrency. The application is being developed by Canadian company Midas Labs and will be launched in the second quarter of 2020.
According to Jerry Lee, Midas Labs spokesman, HTC Exodus will mine $ 0, 0038 Monero per day, which is quite a bit, frankly. With such a productivity, it will be possible to earn only $ 1, 387 per year - that is, to recoup the cost of purchasing the smartphone itself (about $ 237), 170 years of production will be required, excluding electricity costs.
With such a ratio, hardly anyone would buy a smartphone as a real source of cryptocurrency. The main idea of the developers is different: mining, albeit very tiny, occurs while the gadget is charging. From the point of view of engineers at Midas Labs, a relatively efficient smartphone processor uses less power than it receives. For example, an average laptop can mine $ 0.06 Monero while consuming $ 0.156 of energy, while the HTC Exodus has a 50% profit.
Going forward, the use of smartphones for mining could lead to the creation of larger decentralized networks. This means that users of blockchain smartphones will be able to make transactions without resorting to centralized services.