HTC Announces Its Exodus ‘Blockchain Smartphone’ Will Mine Monero (XMR)

Mobile phone giant HTC will allow users to exploit the Monero (XMR) cryptocurrency through their blockchain phone, Exodus, according to an announcement on April 10.

The announcement states that thanks to a partnership with chip design firm ASIC Midas Labs, the Taiwanese company could leverage Monero through an application called DeMiner, which will be downloadable in the second quarter of 2020.


Reduce mining costs

Due to the growing concern that cryptocurrency mining activity involves high power consumption and, therefore, high prices, HTC guarantees that these levels can be reduced by transferring work to mobile devices.

The app would be designed to shut down mining automatically, whether using a mobile phone or charger not connected.

Phil Chen, HTC's decentralized CEO, added:

“Mining on mobile is an essential research topic in understanding the development of secure cryptocurrency networks. The number of mobile phones in 2020 is approaching 3.5 Billion, which would further decentralize and distribute the hash rate and mining power of such crypto networks.”

Giant cryptocurrency pools dominate the scene
 
The HTC chief executive also claimed that the crypto world was "threatened" by the dominance of hashtags by giant mining pools, so he believes that the democratization of mobile phone access is a way to eliminate the problem.

About the DeMiner app, Dr. Jri Lee, CEO, and founder of Midas Labs said:

“We developed the DeMiner app such that a smartphone device will have a hash rate comparable to a desktop while consuming much less power. This enables mobile devices to be suitable for cryptocurrency mining (in a plugged-in state) for the first time. Starting from open-source frameworks, we restructured and optimized mining for mobile.”


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