What is cryptocurrency mining? and what its purpose?
The purpose of cryptocurrency mining like the Bitcoin currency was to create a digital currency that all the people can use easily and even control its market value on the internet according to the ratio of trading and other effects without any interference or censorship from any governmental or official authorities. Only people who determine its value through trading which is a great feature.
Another feature of the cryptocurrencies, it is untraceable, but this also a way to open the door to people who are not good, and at the same time it is a blessing for people who love to deal freely, the situation here is like how you use the knife. It is possible to kill someone with it and it is possible to cut a cake for a celebration. Unlike real currencies, when you deal with any transaction, they will be tracking you, tracking your checks and transactions you have made. The mining process happens through powerful computers that are able to solve the algorithm of the blocks using high-speed graphics cards, but the question now would be:
Is it possible to make money through cryptocurrency mining and trading without large machines?
The answer is yes. Companies are racing to produce new phone devices that work on the blockchain technology.
HTC is taking the lead.
HTC has led many other technology companies in terms of Android smartphones seven years ago but ultimately outperformed by its rivals. Now the company is again trying to become a leader in the blockchain technology.
The company announced in mid-May that it would be the first company to produce a smartphone specializing in encryption of the blockchain, “Exodus”.
The company, based in Taiwan, said that the Exodus phone allows owners to keep their data safely on their phones, not on the Internet, where it is easier for strangers to find and change it. This phone will be featured as the first major brand model for cryptocurrencies trading.
IDC’s vice president of research, Bryan Ma, said HTC rivals like Huawei and Lenovo already had ideas related to cryptocurrencies and how to link them to smartphones.
“There is concern that the ideas are just an attempt to capitalize on the hype about the cryptocurrency market, which is very unstable and has a limited audience.”
For their part, the information staff at the company refused to answer any comments on this matter and explained the company’s website that the new phone will allow the operation between the blockchain networks and also supports to connect several digital wallets to each other, and reported the company’s vision on its website, said that its vision is to expand the system by creating the world’s first smartphone dedicated to decentralized applications.
HTC’s Exodus phone will become the world’s second-largest phone in the world to work on blockchain technology. It was preceded by a phone called Finney, released by Sirin Lab in the United Kingdom. The $ 999 device allows the storage and use of cryptocurrencies without paying transaction fees. While HTC did not explain the price of the Exodus phone and asked interested people to register via the website.
Mandala’s co-founder and CEO, Nate Flanders, said that the use of smartphones in cryptocurrency trading could increase the speed and security of the process. These phones will therefore become popular among cryptocurrency investors.