Have you ever wished that you could mine cryptocurrency from your phone? As cryptocurrency mining requires a highly technological equipment, that is generally not something that you can do easily, but companies like Packet Mining are making an effort to change this scenario.
Packet Mining is a blockchain company which has decided to make the mining process somewhat different. It believes that most cryptocurrency mining is going to be unatractive for people in the long term because they will have to use top hardware to be able to actually make a profit mining. Unfortunately, proof of work cryptocurrencies need mining, so a problem arises.
By using its own technology for cryptocurrency mining with smartphones, Packet Mining has found what it considers to be the solution for this problem and the answer to this emergent demand.
This company was created by “Greg”, a Silicon Valley veteran and CEO of the company, “Samantha”, a project manager which commands tool based development and Derry, lead software engineer in Java. The company is also partners with Track ICO.
What Is The PacketMining App?
All the features of Packet Mining will be accessed via an app designed by the company. This smartphone app will be available for both Android and iOS and it will have a simple user interface. The app will be developed to have more than 2 billion global users, so it will have a robust structure.
Via this app, the users will be able to participate in mining cycles or mining pools and get tokens for lending their mining power to the company (just like normal mining). To be able to receive your money, you will have to complete a mining cycle. If you abandon it while it is still not finished, you will get zero coins.
Basically, the app will use its own technology developed by Packet Mining to mine using the capabilities of the phone instead of requiring a huge power from the desktop computer of the year, which will consume less electric energy.
PacketMining PAKT ICO Details
The Packet Mining ICO has started on March 10 and it will be happening until June 12. The sale will be divided into many different parts:
- Seed Stage ($1 USD per 22 PAKT tokens): March 10 – April 10;
- Pre-ICO ($1 USD per 1.7 PAKT tokens): April 11 – May 11;
- Main ICO sale ($1 USD per 0.40 to 0.11 PAKT tokens): May 12 – June 12.
The total supply of tokens is 50,000,000 and 5,000,000 PAKT tokens (about 10%) will be sold during the sale. The token holders will not receive any shares of profit from the company and the value of the tokens will be dictated by the market. 80% of the PAKT tokens will be reserved for mining purposes.
You will also be able to get tokens from the bounty campaign by posting on Reddit, Twitter and Telegram. The money raised in the Packet Mining ICO will be used in development (40%), marketing (10%), hosting and hardware (10%), management (10%) and other purposes.
The PacketMining Smartphone Crypto Mining Verdict
Smartphone mining is a nice idea which can make this company move forward in the market. The sale will sell a small amount of the total tokens of Packet Mining, which highlights the fact that the most profitable way to invest in Packet Mining will be by using its mining programs.