The giant of the mobile phone manufacturer HTC will allow users to exploit the cryptocurrency Monero (XMR) via its blockchain phone, Exodus, according to an announcement made on April 10.
The announcement said that thanks to the partnership with chip design company ASIC Midas Labs, the Taiwanese company could exploit Monero via an app called DeMiner, which will be available for download in the second quarter of 2020.
Reduce the costs of mining
Due to growing concerns that the activity of cryptocurrency mining involves high power consumption, and therefore high costs, HTC guarantees that these levels can be reduced by transferring work to mobile devices.
The application would be designed to automatically deactivate mining, whether the mobile phone is used or the charger is not connected.
Phil Chen, decentralized general manager of HTC, added:
“Mobile mining is an important research topic to understand the development of secure cryptographic networks. The number of mobile phones in 2020 is approaching 3.5 billion, which would make it possible to decentralize and further distribute the hash rate and the operating power of these cryptographic networks. “
Giant crypto mining pools dominate the scene
The HTC executive also claimed that the world of cryptography was “threatened” by the domination of hashrate by giant mining pools, so it believes that the democratization of access via mobile phones is a way to eliminate the problem.
About the DeMiner app, Dr. Jri Lee, CEO and founder of Midas Labs, said:
“We have developed the DeMiner app so that a smartphone has a hashrate comparable to a desktop computer, while consuming much less energy. This allows mobile devices to be suitable for the first time for cryptocurrency mining (in a plugged-in state). From open source frameworks, we restructured and optimized mining for mobile. “
Cointelegraph reported last year that HTC had released its first blockchain-based smartphone, Exodus 1s, which allows you to run a full Bitcoin (BTC) node on the device.