HTC Exodus 1S Will (Also) Feature Monero (XMR) Mining

The Monero news yesterday showed that the novel smartphone by HTC named Exodus will apparently introduce mining Monero coins through its blockchain capabilities. The HTC Exodus 1S will be able to mine the privacy focused asset Monero (XMR) in a collaboration with Midas Labs, an ASIC chip design firm.

The mining feature will come in the form of an app known as DeMiner. This app is expected to roll out in the second quarter of this year, and it will form a significant part in HTC’s efforts to transform the crypto mining space.

The firm is specifically hoping to help reduce the cost of crypto mining – both in terms of financial outlay and energy consumption. It will do that by making the process available on mobile devices.

The HTC Exodus 1S will also feature XMR mining – it explained that the DeMiner app is roughly equivalent to a desktop computer in terms of hash power. However, it brings lower energy consumption.

All of this is good for the future of Monero XMR as a cryptocurrency. The app running on this smartphone will also be able to inactivate the mining process if the phone is being used and the charger is not plugged.

“Mining on mobile is an important research topic in understanding the development of secure crypto networks. The number of mobile phones in 2020 is approaching 3.5 Billion, which would further decentralize and distribute the hash rate and mining power of such crypto networks,” said Phil Chen, the decentralized chief officer at HTC.

Chen was in the cryptonews for talking about the mining space in general, pointing out that it is currently under threat of large mining pools taking up massive amounts of hash power. Thus, a significant part of the global mining power is compromised.

The DeMiner app running on the HTC Exodus 1S will allow Monero mining for now, although the firm has not said anything about possible currency additions in the future. The Taiwanese firm (HTC) also estimates that it can earn users up to $0.0038 in XMR tokens every day. The electricity used to conduct the mining task will come to less than 50% of the income from mining.

With the HTC Exodus 1S, HTC’s contribution to the mining space continues growing – the firm also unveiled the Exodus 5G Hub this year, which is basically a privacy oriented portable 5G blockchain router which will allow users to run an entire node on the Bitcoin network.