Technology advances faster than any one person can keep up. What’s hot today is cold tomorrow, with cryptocurrency being no different, mobile phones are now being integrated into the new movement. Mainly for the purpose of mining, there have been some arguments against phones for this purpose, due to claims they can’t sustain energy long enough to successfully run an operation.
Reality has proven differently for the smart phone regarding cryptocurrency. The new development of advanced phones has been a crypto-mining phenomenon of sorts. There is no exception to the rule, mining requires power & energy, which is why older phones would never have worked for mining purposes. However, newly developed technology has made smart phones more reliable than the massive super computers once used by worldwide institutions and making them ideal for personal mining operations.
In fact, they’ve even become a smarter choice for newbies to the industry, unable to setup the difficultly technical mining operations on larger computers. Previously, mining was accomplished using powerfully advanced computers built for mining. Using expensive GPUs or ASIC software packages, the miners were difficult to procure, hard to setup, and expended massive amounts of resources. Unless an individual had extreme financial capital, plus energy to burn, the mining operation would be destined fail.
Then came mining pools or membership websites for cloud-based mining, both problematic ideas caused tons of fraud and lost resources. Another problem that occurred was monopolization when mining certain cryptocurrencies. Once a giant farm had been set up and could solve the complex algorithms, it became difficult for others to jump into the fray. Ultimately, the entire process was far too difficult for the every day guy or gal trying to get started with cryptocurrency.
Then came mobile phone mining – it caused a lot of doubt as new operations usually do – which made it possible for regular people to mine at a fraction of the cost. The phones would be used to setup imitation mining operations that functioned the same as the larger operations. Many cryptocurrencies paid no attention to the mobile mining movement, but one has sprung up looking to make it possible for anyone mine their currency with the user of a phone.
MIB coin is replicating traditional mining operations using only smartphones. The new token isn’t just attracting new investors either, it’s gaining attention from more experienced cryptocurrency enthusiast as well. The company is taking the new operations very seriously as well – with phones generating has values at 100 h/s of more – the mining is very real, being lucrative as some of the larger ones.
The rates are quite impressive when you consider everything is run by a standard smart phone. Of course, better phones provide better hash rates. The payoffs are higher than the cost of running the operation, which only takes a small investment on the part of the user. Even though skeptics complain about battery life, the pros are too abundant to be limited by the cons.
As for MIB’s development, the company recently started their ICO on July 20th, 2018. The goal of the fundraising project is to put skeptics doubts to rest, which shouldn’t be too difficult sine the company has collaborated with some of the largest exchanges in the world. The company is currently preparing to be listed on some Honk Kong’s most trusted exchanges – looking to take off quickly – providing users with a low-resource consuming alternative to traditional mining operations.
The environmentally friendly smart phone miners will take considerably less to run. For example, power consumption is promised to drop by as much as 92.24%, with financial costs dropping considerably as well. The new miners will be far less intrusive and damaging to the ecosystem and world in general.
Would you take part in smart phone mining? Tell us your reasons for supporting or not supporting this new technology in the comments below.