Post
Topic
Board Speculation (Altcoins)
Re: Phone Mined Coins as the crypto infrastructure
by
zityx23
on 19/11/2022, 11:13:53 UTC


It's no secret that the number of people using mobile phones far exceed those using computers. That should make cryptocurrencies mineable with a phone much more decentralized. The problem is that phones don't have the same computing power as an ordinary PC. With such limitations, it'll be impossible to turn a profit when mining any CPU-based coin on a mobile device. While some coins just simulate the mining process (eg: Electroneum), there are some which actually use your phone's processor to the max.

I believe Magi (XMG) is one of the best (if not the best) coins you can easily mine on your phone because of its unique PoW algorithm. It penalizes big miners by reducing the block reward. Effectively, the "little guy" gets the most coins per block, while the others are left behind in the dust. Not only this enables true decentralization, but it also makes the Blockchain more equal to everyone. I'm beginning to explore Verus which is a coin that can be mined with CPUs. Both Monero and Wownero are also CPU-based, but they're much harder to mine because there are GPUs on the network. Ultimately, it's all about which coins give you the "most bang for your buck". If you're only doing this for fun, then I'd see why you can't mine with a phone in the first place. Just my thoughts Grin
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Interesting coz you've mentioned Magi twice already. I'll have to check on this especially on their protocol. Would you also be willing to check on TAU? It looks like you something about codes. Might help, might not but it is a good thing if Magi penalizes  big miners with reduced rewards. TAU  itself has a Fibonacci sequence up so that new miners will always have advantage since they'll have a higher base mining power compared to old miners.