Minar crypto from a phone? Startup from Hong Kong shows the way

So maybe Bitcoin and the hundreds of other cryptocurrencies are not as sexy as they were last year, but if you can trust the American venture capitalist Tim Draper, Bitcoin is going to be worth over $ 20,000 again. Actually, Draper has hit many times in the future of BTC. He recently said he was going to reach US $ 240,000 by 2022!

It is not that all cryptocurrencies increase with Bitcoin, some follow it, some do not. But, what would happen if you could extract cryptocurrencies on your cell phone and your home PC, participate in the cryptocurrency market and get a reward for it, in encryption, of course?

The generation of Bitcoins is called "mining" because, as in the case of gold extraction, there is only a certain amount of Bitcoins that can be created: 21 million, supposedly. There are many other coins to extract.

Electroneum is one of the first participants in this idea of ​​coin mining on your phone. They allow users to download an application to extract their currency. The startup Module and its Japanese team is the last participant, only they seek to compete not so much with Electroneum but with the market of Filecoin and Storj.

Module has started its public presale with a 7% bonus. Module Token is a utility currency, not a value, according to your white paper.

The Module mining algorithm makes it possible to earn rewards by leveraging space on multiple devices, be it a handheld computer or a desktop.

"As the storage capacity of the devices advances and expands, one can expect that the various services offered will also expand," wrote the authors of the white paper.
The Japanese developers, led by Toshiki Tashiro, say they are building a system under which compensation is determined based on three storage elements: proof of space, time and transaction.

In addition to issuing new original coins, users will also be able to develop decentralized applications on the platform, which is why it is different from Electroneum and even Filecoin.

"The miners will support the block chain by generating new blocks, and the opportunity for the miners to earn rewards for influencing the new blocks will be proportional to the storage space, time and number of transactions that are currently provided to them. the network, "says Tashiro.

Richard Terrace, a blogger at the cryptocurrency site Steemit said he has tried to mine his phone. "The trick is to choose the correct cryptocurrency," he says.

Bitcoin Scrypt can be optimized for high frequency and low memory calculations equivalent to hashrates in billions. A cell phone could never keep up with that.

Ethash works well with the large number of stream processors on video cards and a cell phone is lucky to have more than four cores. So the Ethereum extraction is also out.

Cryptonight works well with a full-scale processor that can perform complex calculations. It works well with CPU and that's exactly what your cell phone has, he says.

"It's true that the cell phone can not keep pace with a high-power PC but, once again, it uses very little electricity, so it's not a terrible comparison," he says, mentioning other currencies like Monero, which he calls "The king of cryptocurrencies".

"It's not a lot of money, but it's something," adds Terrace.

Module proposes to be more than a meager miner. Like the handful of new companies that were launched in the last three years, they are trying to take a piece of the market from commercial cloud service providers.

This is one of the reasons why it works: a so-called Verifier pays the cost of storing the data with the Module token, and a Farmer at the other end receives cryptocurrency as compensation for providing storage capacity to store the data.

This means that the Blockchain space, time and algorithm test has a transaction function associated with sending and receiving coins.

Both parties obtain an intelligent contract related to the storage data, so that the Verifier and the Farmer can safely perform the data processing.

Blockchain of Module stores intelligent contracts related to currency transactions and data management, converting it into a storage solution in miniprocessor and in the cloud in one.

For more information about the project, you can visit the official site in Module.