Cryptocurrency mining is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger ( for newbies that hear the block chain often and don't know or understand what it means, It is a public ledger or "decentralised register" of every transaction that has been carried out in that cryptocurrency). It is a process that involves solving complicated mathematical problems with cryptographic hash functions that are associated with a block containing the transaction data. These transactions are assembled into what are called "blocks". These blocks are then verified to ensure they are legitimate by cryptocurrency miners. This checks if the same coin hasn't been expended again before the transaction has cleared, and that the input and output expenses tally. Then the next sequential transaction block is connected to it. This is how cryptocurrencies are created and how new cryptocoins are made.
Ideally, when you mention Crypto mining, the first thing that comes to mind is the expensive hardware that costs in the tens of thousands of dollars bracket. Also, other newer mining softwares, the potential damage to your mobile device and the costs of staying online tends to put people off. In order to offset some of these costs, one would have to connect the mobile device to a wireless router or WiFi but then, that takes away the "mobile" feature of the smartphone meaning it would have to be stationary.
That's where MIBCOIN comes in. MIBCOIN, also known as Mobile Integrated Blockchain Coin, is a smartphone based blockchain that is designed in a unique way so that your smartphone can withstand the computational complexity required for mining and protecting your device from overheating and damaging the hardware. It is possible with just one smartphone. It also reduces power consumed by 99.24% compared to existing mining machines.
Smartphones (Android OS) with a minimum of 1GB RAM and the fairly updated operating system would work suitably with the MIB miner app. Also, the power consumption also means less heat is produced which prevents the hardware from overheating.
MIBCoin is built on the SmartX block chain platform. A total of 600,000,000 MIB coin is currently issued. A variety of tokens will be created based on the SmartX Blockchain Platform of MIB.
Anyone can mine with a smartphone. Aspiring cryptominers should also know that as cryptocurrencies have risen in both popularity and value, competition has increased substantially as well and now includes organizations and enterprises with more extensive resources than most individuals can compete with. The MIB miner app, you can mine MIB coins anytime and anywhere, thereby reducing cost of buying Personal computer hardwares and equipments, making it affordable for everyone. Download the MIB miner app from Google play store or IOS app store.
MIB coin is listing on the Coinsuper Exchange on Aug. 17, 2018, just after the Public ICO which started on July, 20th and it's slated to end on the 10th of August, 2018. So it would be good to start mining and acquire come coins before it goes on exchange and starts to appreciate in value.
Visit http://www.MIBCOIN.io to get more details about how the app utilizes your device hardware to mine coins.
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