April 13, 2020 HTC to enable cryptoasset mining on mobile devices in a bid to encourage decentralization.

The technology company, HTC is preparing to enable cryptoasset mining on its blockchain-oriented Exodus smartphone. The new feature is due to a partnership with Mida Labs and will allow users to initially mine Monero via the DeMiner application on the Exodus 1S smartphone. Rather than creating meaningful income opportunities, the feature is aimed at furthering the decentralization of Monero mining by adding a multitude of micro-scale miners to the network. Phil Chen, Decentralized Chief Officer at HTC commented: “The question is how can we further decentralize and ensure a more inclusive monetary system?”. Users of the application will be able to mine up to $0.0038 of the cryptocurrency per day with up to 50% of this being consumed by electricity costs. Monero has in part been chosen because of its CPU-friendly RandomX hash algorithm that makes it economical to mine via mobile devices, while the DeMiner application is apparently far more energy-efficient than desktop computers. The new service is expected to go live in Q2 2020 and will in all likelihood rely on users who are already conscious of the perceived importance of decentralized mining for cryptoassets.