Recently, one of the forerunners of mobile phones production, HTC announced the incorporation of a mining app on its blockchain phone, the Exodus 1S. The Exodus 1S which was launched late last year would allow users to mine Monero on a daily basis.
Responding to this announcement, Ethereum's co-founder, Vitalik Buterin stated that the mining of crypto assets on phones is just a "fool's game". He further said that the concept contradicts the hardware economies of scale and users are simply being given false hope. He believes that crypto staking on phones, on the other hand, can be quite encouraging.
HTC strives to Minimize Energy Consumption and the Costs of Crypto Mining
As reported earlier this week, HTC made the announcement about the crypto mining app after they signed a partnership deal with Midas Labs. Midas Labs is an ASIC design organization that specializes in Artificial Intelligence and blockchain mining applications.
According to HTC, the aim of enabling crypto mining on mobile phones is to lower the cost of mining as well as the high rate of energy consumption. The company also emphasized that the crypto mining app will be specially designed to disable mining automatically as soon as the phone stops charging or once it is being used.
Source: Cointelegraph
