Recently, HTC announced the launch of a new application in your phone line Exodus, which would allow their users to mine Monero from your mobile. However, after an analysis revealed that this mining was profitable, it would take 500 years. The founder of Ethereum, Vitalik Buterin, has launched a critique against the HTC phone in our Tweet of the day:
Mining on phones is a fool’s game. Goes against everything we know about hardware, economics of scale and more likely to trick users with false hope than help them.*Staking* on phones, OTOH, is IMO remove promising…https://t.co/VGgkoHIDsP— vitalik.eth (@VitalikButerin) April 13, 2020
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Buterin critical HTC phone
Just a few days, here in CriptoTendencia, paragraph we spoke of the announcement of HTC, a application phone to mine Monero. Taiwanese company that during the last years have bet on the technology Blockchain, as a means to differentiate themselves from the competition, especially in their line of phones, Exodus. The same would have been developed in conjunction with the company’s ASIC chips Midas Labs, and leveraging the power of the phones, Exodus, and convert them into nodes in the chain of Monero. That would allow users to convert their cell phones into a means for profit. However, a recent study reveal that for this mining cover the cost of the phone of HTC, it would require 500 years. Making it much less attractive the idea of using the phone Exodus to minar cryptocurrencies, for all the time that would be required for cost-effective investment. As I said Buterin on his Twitter account, denying that the phones can be mining machines, efficient: “The mining on phones is a game of fools. It goes against everything we know about economies of scale in hardware. And is more likely to mislead users with false hopes that will help. Invest in on the phones, on the other hand, is quite promising.“ With these statements, Vitalik Buterin criticizes the HTC phone, leaving his position clear on the new application of Exodus. Calling it a “fool’s game”, not being designed cell phones for the mining cryptocurrencies. Whereas other activities that can be done with cell phones in the crypto market, have a better future than the idea of HTC to the mining of Monero.