MIB Coin mining on a smartphone is now a reality

Recently, there has been a significant increase in the popularity of blockchain technology, which is considered to be the tool that can completely change any sector of the economy. At the same time, there are more and more startups and business projects that seek to monetize their activities and introduce this technology. The total capitalization of blockchain projects is projected to grow to $3 trillion by 2030. One such project is MIB Coin, which implements a blockchain based mining network that will operate on smartphones. Platform Coin MIB also allows you to participate in the development of applications.

Mining is the extraction of cryptocurrency using a specialized software algorithm that creates new blocks in the blockchain, thereby ensuring the functioning of cryptocurrency platforms. In this case, the reward goes to the miner if it was on his computer that a unique set of data (block) was extracted, which is used to confirm the reliability of the payment transaction. Calculations of this type for the production of unit you need bitcoin for transaction security and re-use the same units of cryptocurrency. The reward system is designed to ensure that people are interested in providing computing power to their devices. The MIB coin was just created for mining. Modern blockchain platforms spend huge amounts of money to maintain their network. The project developers were able to formulate and implement the concept of mobile mining implementation in the blockchain, where the cost of network maintenance is minimal, the structure is flexible and stable. So there was a platform SmartX and coin MIB (Mobile Smart Coin), which created a special extension through which you can easily integrate any of your business, based on blockchain technology. Thus, it will be possible to create your own ecosystems, and innovative SmartX solutions will be the starting line for the success of all the ideas of business projects and startups.

As planned, the SmartX and MIB coin platform should become an international cryptocurrency, and the MIB coin will become a common means of payment, since the cost of servicing the blockchain is significantly reduced, due to the use of a lightweight hashing algorithm that provides convenience and cost-effectiveness of use. All transactions within the SmartX platform are completely transparent, which reduces the cost of security, inspections and regulation, since there is no single center for time-consuming verification, since all operations are decentralized. Built-in support for automated smart contracts, which are performed in the case of performance of obligations of the parties on strictly prescribed conditions and work without intermediaries.

If we consider the process of mining MIB Coin, then you can mine this coin on your smartphone or tablet, the power of which is already approaching the usual personal computer. Now you do not need to collect a mining farm from a variety of powerful graphics cards to mine a coin, and the processor that is installed on a modern smartphone is enough to carry out the necessary calculations. An important feature of MIB Coin is that it is impossible to mine on ASIC or GPU, and it is much more profitable to mine on a conventional smartphone. Small intervals between mining blocks, respectively, to produce this cryptocurrency will be much more profitable than most others. The heating of the device is reduced compared to other mining algorithms. That is, now just to control the mining process and control the hash rate. MIB algorithms distribute the computing power of the smartphone in such a way that they provide full protection against overheating and breakage. The power required for mining operations has been reduced by 99.24% compared to other mining devices. Energy consumption reduced up to 15,000% in comparison with the production of 10,000 coins ASIC miner from Bitmain, and solutions from the MIB. Thus, the project solves the problem of excessive energy consumption. Everything is easy and simple, you download the application, connect to the Internet, run the application and in a couple of touches you get cryptocurrency using simple settings and intuitive interface. Smartphone apps can already be downloaded for Android and iOS from the relevant store.