HTC made it possible to extract the Monero cryptocurrency through the Exodus blockchain

HTC made it possible to extract the Monero cryptocurrency through the Exodus blockchain

By ... | World of Crypto | 19 May 2020


According to a statement released t by HTC, a well-known mobile phone maker, users can use the Exodus blockchain to extract Ramzarz Monero (XMR). According to the announcement, thanks to a partnership with Midas Labs, which designs ASIC chips, Taiwanese company HTC will be able to use the DeMiner app to extract Ramzarz Monero. The app will be available for download in the second quarter of 2020.
Save on cost of extraction operations
Given the concerns about the high energy consumption of mining operations, which will also increase costs, HTC offers a solution that ensures that the transfer of mining operations to the phone can reduce energy levels and consumption costs. The app is designed to automatically stop mining when using the phone or when the phone is not connected to a charger. Phil Chen, HTC's chief executive of decentralization, said:

Mobile phone mining is an important research topic for understanding the development of secure encryption networks. The number of mobile phones in 2020 is reaching 3.5 billion. This can cause decentralization and hash rate distribution and the power to extract such mobile encryption networks.

Huge extraction pools have taken control of the industry
Phil Chen also claimed that the crypto world is under threat from "the high power of huge mining pools", so he believes that decentralizing access to mobile mining operations is one way to solve this problem. Dr. Jerry Lee, CEO and founder of Midas Labs, said of the DeMiner app:

We've developed the DeMiner app in such a way that the phone's hash rate is comparable to a home computer, while consuming much less energy. This makes mobile phones the first device to be a good extraction device (in charging mode). We started with an open source platform, and rebuilt and optimized mobile mining.

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