HTC Exodus, it will take over a century of cryptocurrency mining to make up for spending

Fibo Quantum

DeMiner, the cryptocurrency mining app specific for HTC Exodus devices, is coming. It will mine Monero, but it won’t be very useful for the end-user. By creating a decentralized network, however, interesting benefits could be obtained

HTC Exodus, the Taiwanese company’s blockchain smartphone, will soon receive its dedicated app for cryptocurrency mining. deminer will allow you to run the mining of Monero during charging and when the smartphone will be idle: it was developed by Midas Labs and should be available to all HTC Exodus users by the end of the second quarter of the year.

According to reports, Jri Lee, responsible for the same Midas Labs, an Exodus 1S unit should be able to extract $ 0.0038 Monero per day. You don’t need to do extremely complex calculations to understand that DeMiner won’t turn Exodus into money-making machines. In a year, at the rate of $ 0.0038 a day, it will be possible to earn about $ 1,387. Just think that the smartphone costs $ 237, or $ 219.

In other words, excluding electricity costs, they will be necessary about 170 years just to make up for the initial hardware investment. It is clear that the calculation is only a provocation since no “consumer” user would buy a smartphone as a mining system.

The HTC Exodus, however, they could represent a very interesting experiment, given that the hardware of the devices is very efficient in the extraction of cryptocurrencies: according to what Midas Labs declares, an average laptop can extract about $ 0.06 of Monero per day while consuming the equivalent of $ 0.156 of electricity in mining procedures. This means that those who try to mine cryptocurrencies with a laptop lose money.

HTC Exodus 1S should instead allow you to have a profit margin of 50% taking into account energy costs, therefore, one could try to create a wider and decentralized network of smartphones that could counteract the control of blockchains by large mining pools avoiding the possibility of third parties to perform targeted attacks. A philosophical mission on the part of HTC and Midas Labs, although to date it appears unlikely to be successful.

“The world of cryptocurrencies is threatened by the dominance of the hash rate by giant mining pools”, he has declared Phil Chen of HTC. “The most effective way to eliminate this problem is to make mining accessible to the masses, and this can be done via mobile devices”. Monero had a tough time last year when it was eliminated from BitBay and OKEx after stating that the privacy-focused design would make compliance difficult.

Chen reassured that the problem has come back, however it is clear that – although blockchain and cryptocurrency mining are topics that arouse much interest in the masses – HTC Exodus smartphones will remain niche products, and the company’s mobile division needs much more to return to compete in the market as it did not too many years ago.