July 31st, 2018 at 9:44 pm UTC · 2 min read
Naturally, we are currently seeing quite a rise in its applicability because of its immense potential in security, cost-effectiveness, time-management, and most importantly, decentralization. After a market fluctuation in 2017, the industry has been on an upward swing this year. We have been seeing a host of new products and solutions come up in the cryptocurrency scene and the times are more exciting than ever.
One such new development has been of mobile mining and by extension, smart-mining as well. While certain earlier platforms had allowed to carry out crypto-mining via mobile phones by merely mimicking the process of actual mining on a computer, new introductions in the industry like MIB Coin have taken it further than that. It not only allows users to directly harness the strength of their phone processors to mine crypto coins but also to contain battery consumption by roughly 99.24%.
Smart mining not only allows one to mine cryptocurrencies and generate fresh blocks using mobile phones, it makes it possible to introduce mining in areas where power availability isn’t optimal, including many regions in parts of Asia, South America, etc. By doing so, this development makes it possible to bring down the social and monetary costs and lead to better adoption and penetration.
By leveraging the latest SmartX blockchain platform, the new MIB coin has been trying to maintain a flexible blockchain network at reduced costs, allowing penetration up to 94.4% of the prospective users. About 50% of the MIB coins are available for Smart Mining and open for public access.
By allowing a lightweight algorithm for generating hash rates up to 100 h/s or even more if the device hardware allows, Smart Mining can enable users to bypass the hassles of using ASIC or GPUs that are required in traditional mining and get returns that are quite profitable vis-a-vis the investments and efforts expended.
The new development is incredibly exciting for crypto enthusiasts, who are mostly laymen, by allowing for an easy, cheap, and power-saving way to mine digital currencies. MIB coin ICO is live and is soon going to get listed on major Hong Kong exchanges. With this, we might be looking at bright times for the industry at large.