HTC’s Exodus blockchain smartphones will soon receive their own mining app, letting them mine Monero cryptocurrency when plugged in and idle,
According to Midas Labs’ Jri Lee, one of HTC’s
Of course, no one is going to be buying an Exodus smartphone as an investment; they’re buying it to use as a phone that can also mine a little cryptocurrency while it’s charging. What’s important from Midas Labs’ perspective is that a smartphone’s relatively efficient processor means that it consumes less power as it mines. Midas Labs told The Block that an average laptop can mine $0.06 of Monero a day but will consume $0.156 of power in the process (meaning you’re running it at a loss), while the Exodus 1S’s should have a profit margin of 50 percent when you take power costs into account.
There’s also a philosophical element to turning mobile devices into mining machines, which is that it could potentially result in a larger and more decentralized network. That’s important if you want to stop giant mining pools from controlling too much of a cryptocurrency’s blockchain, putting it at risk of so-called 51 percent attacks like the one
“The crypto world is under threat from the domination of the hashrate by giant mining pools,” says HTC’s Phil Chen. “The most effective way to eliminate this problem is to make mining accessible for the masses, and that is through mobile.”
Monero has been controversial,
It all means that the Exodus smartphones are likely to remain niche gadgets for crypto enthusiasts. Being able to mine cryptocurrency or run