MIB: The First Crypto Smart Phone Mining.

belushiiwuzere (29)in #blockchain • 7 years ago (edited)

Overview

The recent times have seen the cryptocurrency space expand by leaps and bounds and the most recent watershed moment that the industry has seen is the introduction of mining cryptocurrency using mobile phones. Leaving the era of using hefty supercomputers to mine them behind, we are now entering into a phase where modern users can mine virtual currencies with the ease that comes with handy smartphones.

Traditionally, the process of crypto-mining is a tenuous, time-consuming task, with a dedicated computer hardware being required to harness the power of a specialized graphical processing unit (GPU) chip or an application-specific integrated circuit (ASIC) to do so. In addition, a miner would require an uninterrupted internet connection, an original software package for mining, and memberships with online crypto exchanges and mining pools. Using these, the miners compete with one another to solve complex mathematical problems to record transactions as well as generate fresh currency. Hash values for unique data identification are solved by miners to call dibs on a fresh block of currency, while earning rewards.

However, 2018 has seen mining effectively move out of this hefty domain into a much more accessible one: the one of smartphones. While earlier we have seen mobile applications mimicking mining on phones, the most recent development allows users to actually harness the power of their mobile phone hardware to mine coins and generate fresh blocks of currency. With the hash rates going up to about 100 h/s depending on the model type or even more if the device hardware allows, mobile-mining can allow enthusiasts to carry on mining with greater mobility and ease than what traditional computers offered.

Tentatively, the MIB coin, is all set to move into this space with its initial coin offering that opened up on 20th July. The coin is also likely to be listed in some of the largest crypto exchanges in Hong Kong .

Keeping time, costs and power usage low, MIB coin is the latest offering in the mobile-mining space and offers a lucrative way to mine cryptocurrency easily and comfortably for anyone with a smartphone. It seems as though the boons of modern technology are boundless and we can only hope they never cease.

What MIB Coin Offers

MIB COIN, wants to make its coin the center, namely the “core standard” — that is, the center of the mobile crypto-currency system.
In the long term, an ecosystem where functional tokens can be issued by utilizing the stable nodes of the SmartX blockchain network will be formed and dev
MIB Coin’s future will continue to improve and be developed as a system closely related to everyday life by growing into a globally used cryptocurrency working as a means of currency exchange, payment, value measurement, and communication.

How Does It Works

How do you mine cryptocurrency on smartphones without dedicated expensive equipment?

Firstly, lets define what a HASH rate means: In simple terms, a hash rate can be defined as the speed at which a given mining machine operates. A higher hash rate is better when mining , it increases your opportunity of finding the next block and receiving the reward and at the same time requires a huge amount of energy like we discuss earlier and very very expensive. Moving Further,

Anyone can mine with a smartphone. Benchmark your smartphone and allocate a hash rate. MIB is designed so that your smartphone is able to withstand the computational complexity required for mining and protect your smartphone from overheating and damaging the hardware. It`s possible with one smartphone.Reduced power by 99.24% compared to existing mining machines.

All you need to do is download the APP, MIB Coin Mining App for Android version is now running on TestNet and you can download it on Google PlayStore. https://play.google.com/store/apps/details?id=io.mibcoin.miner

Token & ICO Details

Token name: MIB
Platform: SmartX Blockchain

Token price: 1 ETH = 1200 MIB

Total supply: 600,000,000 MIB

Public ICO: Jul 20, 2018 ~ Aug 10, 2018

Allocation

50% of MIB Coin is allocated as Smart Mining and is available to anyone easily.

27.51% of MIB Coin is used for the maintenance and management of MIB’ network ecosystem. More specifically,

11.67% for Reserve and 15.84% for Extra Marketing.

22.49% of MIB Coin is distributed to MIB Pre-Sales, ICO, and the stakeholders. More specifically, 5.83% for Pre-Sales, 8.33% for ICO, 3.33% for the investors, 3.33% for the advisors, and 1.67% for the team are distributed