Smartphone Mining At Its Possible Best

mahyorwah (25)in #cryptocurrency • 6 years ago (edited)

One of the major ways to earn cryptocurrency coins is through mining. The traditional crypto mining requires expensive technology; computer hardware that costs upwards of tens of thousands of dollars but with the advent of mobile mining, we can now mine crypto coins with our handy mobile devices which provides a greater opportunity for all who are interested to make some crypto coins which can either be traded on exchanges or converted to fiat. An average android phone would be sufficient for this but then the higher the phone specification the more coins can be mined as this affects the hash rate (a factor the increases your opportunity of getting rewards).

The MIB coin is said to be a smart phone based Blockchain network that has constructed an ecosystem which minimizes the resources needed to carry out mining operations. It is a coin that will provide the opportunities to participate in mining and to connect with more businesses not regarding your personality, location timezone or schedule using a mobile device via an innovative SmartX blockchain platform. Its blockchian network is maintained by a smartphone hash which means that if a smartphone is working consistently every day for a whole year, it will utilize a value approximate to a total of $10 worth of electricity which is 99.24% lower when compared to the power consumption of the existing blockchain miners. This offers greater eco-friendliness, lower cost and higher accessibility as earlier implied.

Some of the characteristics of the MIB coin ecosystem are:

Firstly; as earlier stated is that mining can now be done without expensive hardware such as a graphic card, CPU, or dedicated machines

Also, mining no longer has to be carried out in select countries only since smartphones are well distributed around the world which means the elimination of the initial polarization which adversely affected the blockchain functionality. This has in a way had its effect in overcoming the technical limitations of moving towards universal ownership as this is the starting point as well as a necessary condition for cryptocurrency to indeed function as a universally accepted currency.

Another important feature is the SmartX Blockchain Network (SBN) which can maintain the mining network at a low cost. The SBN is able to do this by issuing a functional token through the MIB platform: a smart contract that signs contracts between two or more parties and performs a verification, a mobile money transfer that can withdraw cash from an ATM and transfer money via smartphones, access to digital content like games, music and movies, and booking tickets at over 200 branches.

How the MIB smartphone miner works:

So basically, all you need is your iOS or android smartphone, access to the internet and the mobile app. To get started, you need to access your app store via the internet (probably by using a wireless network) to download the Smart Miner. Mining can then begin immediately.
The Mining Monitor app can monitor and control the mining situations. The app can also
store, send, and receive MIB Coin. Additional features are also provided for multi-miners
with many devices.

The MIB coin is still in its ICO stage and it can be purchased easily. To do so, click here to signup and follow the instructions.

On a final note, it is a great technological feat and worthy of note that an activity such as mining which initially required a lot of resources and investment can now be carried out with as little a device as a smartphone which has now made cryptocurrency mining a worldwide affair having huge benefits.