Mobile Mining: Make Money With Your Smartphone

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Mobile Mining: Make Money With Your Smartphone

How to Start Mining With a Mobile Phone?

Simply scan the QR-Code above, with your mobile phone and you you are ready to mine.

Electroneum is the first cryptocurrency that allows users to mine coins with a mobile phone. This new feature will allow millions of smartphone users around the world to get started with cryptocurrency mining. Electroneum has developed a disruptive technology for making digital money on mobile.

Mining  on a smartphone is fairly straightforward: Scan the QR-Code with your phone and get mining.

Smartphone Mining: Make Money with your phone

Create an account on the Electroneum web site. Log into the app using your credentials. Go to the Miner tab at the bottom and click the Start Mining button. That’s it! Your mobile phone will now start mining. It will show your hash rate (the speed at which your device is mining) as well as the pending balance  – how many coins have been mined.

While mining for Electroneum, your phone is performing a simulation of mining, – not real mining, as is done with a computer. Instead of actually using your phone’s CPU to solve complicated cryptographic problems  – as is done with real mining, – the app will continually monitor the available CPU power on your phone. In this way, it will determine the amount of CPU power that could have been used for mining, had the phone actually been mining.

Your phone will then be issued with a hash rate based on its available CPU power. ETN coins will be credited to your online wallet based on this hash rate.

The Android app can be downloaded from the Google Play Store, or scan the qr-code.  The iOS version, is still under review by Apple and is expected to be launched in Q2 of 2018. The app can be used to manage your online Electroneum wallet, send/receive ETN, and view live ETN exchange rates.

 

 

How Much Power and Data Does the App Use?

The app will not use a lot of power since the app does not perform real mining – only a simulation of mining. Therefore, phones will not heat up, use a lot of battery power, or become worn out due to mining activities.

You’ll see virtually no difference in your  phone’s battery performance.

Data Usage

The app will also not use a lot of data. Data will be required to communicate with the server for account balances and transactions but will be kept to a minimum. It will be low enough to enable mining by users in third-world countries with high data costs.

How Much Can I Expect to Mine?

Smartphone Mining: Make Money with your phoneThe ETN app will mine based on the CPU capacity of your phone – although it won’t actually use any CPU power to perform mining. The team has developed an algorithm that assigns your phone a mining rate based on the available CPU power.

The app will continually read the available CPU power on the phone and adjust the mining rate accordingly.  The actual amount of coins will be calculated via an emission algorithm on Electroneum’s servers and will depend on several factors, such as:

  • the amount of Electroneum transactions
  • being performed worldwide
  • the number of active miners worldwidethe current exchange rate of Electroneum

The pool of coins reserved for mobile mining will be independent of those coins reserved for computer mining. Therefore, any change in the computer mining difficulty won’t translate to the mobile mining pool, and vice versa.

Any coins left over from the Initial Coin Offering (about 2 billion) will supplement the coins that can be mined by mobile users. A high-end cellphone such as a Samsung Galaxy S8 would be able to mine about 70 ETN coins per day initially, according to their calculations at that time.

 

 
 
 
 
By |April 20th, 2018|Categories: Cryptocurrency|Tags: , , , |0 Comments

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