HTC, the Taiwan based smartphone manufacturer is all set to dive deeper into the decentralized space with its Monero mining smartphones. The smartphone brand made several headlines in the past year with its blockchain-focused Exodus range of smartphones which not only had inbuilt crypto wallets, but many devices also had the capability to run a full Bitcoin node.
HTC has teamed up with Midas labs to enable the Monero mining feature on Exodus range of blockchain smartphones, which would allow device owners to mine Monero via an application right from their pockets. The feature is being speculated to launch in the next two months. In order to avail the mining service, HTC would integrate Midas’s DeMiner app into the Exodus devices using which the smartphone owners can allocate a portion of their smartphone’s CPU and memory towards mining.
Monero, a privacy centered cryptocurrency which has gained traction among many who believe the government should not dictate how one is using their own money. The Monero mining pools' rewards are $60 million, and with the introduction of Monero mining in HTC devices, the users can take a portion of this reward without having to invest in highly expensive mining rigs.
Is Mining on Mobile Devices Profitable
The mining industry has become highly competitive and as a result, the mining rigs have also moved into the third generation, starting from simple home-based CPU, then GPU based mining rigs and the latest trend being ASIC mining rigs which are highly efficient. Thus, there is a genuine question that arises whether in this age of ASIC mining rigs costing thousands of dollars, how mobile-based mining is going to fare against them.
Phil Chen, Decentralized Chief Officer at HTC acknowledged that the success of mobile mining is a topic of research, but given how readily these mobile devices are available to a majority of the world numbering into 3.5 billion devices worldwide, mobile-based mining should be encouraged to make the mining industry more decentralized.
Talking about the Exodus range of devices, Chen noted that these devices come equipped with RandomX mining script which is designed to render ASICs non-competitive. The mining script in these devices favors CPU miners over the GPU ones. Chen explained,
“Furthermore, the mature development of power-saving software on mobile, as opposed to power-hungry laptops or desktops, amplifies the effectiveness and efficiency of the profitability of mining on mobile,”
HTC Tapping into Blockchain Space
HTC was a big smartphone brand in the last decade, however, just like Blackberry it lost a significant portion of its market due to the arrival of Chinese smartphones which were comparatively way cheaper than them. But, in recent times, HTC has found a niche in the decentralized space with not just the Exodus smartphones, but it also launched an Exodus 5G router.
Now with the Monero mining application launch on the cards, the smartphone makers are looking to tap into the decentralized space and find a new niche.