HTC allows mining Monero (XMR) directly on the EXODUS blockchain phone

HTC unveils smartphone using blockchain technology

The electronics giant HTC will allow users to mine Monero (XMR) directly on its EXODUS 1S blockchain smartphone.

Announcing Friday, HTC said it has partnered with chip design company ASIC Midas Labs to implement the idea. Midas Labs is developing an application called DeMiner - expected to be available in the second quarter of 2020.

The application is designed to automatically activate the exploit whenever the phone is used or when the charger is unplugged, the notice says.

Phil Chen, director of HTC's decentralized division, said DeMiner would help decentralized mining and save money.

“The world of cryptocurrencies is threatened by large mining pools - the units that dominate the hashrate. The most effective way to eliminate this problem is to make mining more common with people, and that is through mobile phones. This application helps to save money on smartphones, provide incentives for each miner and help the network be decentralized, ”Chen said.


According to Midas Labs, mining XMR - a privacy-centric cryptocurrency, is not cost-effective on desktop. The company says a conventional laptop can mine the XMR equivalent of $ 0.06 a day by 65W of energy - which costs about $ 0.125 a day - "a way to make a loss".

"Midas Labs empowers EXODUS 1S users to mine at least US $ 0.0038 XMR per day, while electricity costs are 50% lower," said Jri Lee - Midas Labs CEO and founder and professor at Dai. National Taiwan University, said.

In another newsletter, Midas Labs today raised an undisclosed sum in its seed funding, led by the funding round being Chen's Proof of Capital venture.

“I am excited about our investment in Midas Labs as they adopt world-class semiconductor design in mobile mining space. Importantly, their team values ​​the core of further decentralization and creates a more comprehensive monetary and financial system, ”Chen revealed.

HTC has taken a number of initiatives related to cryptocurrencies and blockchain. Most recently, the company introduced a blockchain router that allows customers to run a full Bitcoin node at home. EXODUS smartphones also have an integrated electronic wallet called Zion Vault.

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According to The Block
Translated by ToiYeuBitcoin