The Mining Phones Announced At MWC19 Do Not Mine Cryptocurrencies
The Next Web’s Hard Fork has recently reported that even though at the Mobile World Congress (MWC) in Barcelona “mining phones” was one of the biggest buzzwords, none of the products showcased stood out.
The GSMA Mobile World Congress (MWC) is the world’s largest exhibition for the mobile industry and incorporates a thought-leadership conference featuring prominent executives representing global mobile operators, device manufacturers, technology providers, vendors, and content owners. The 2019 GSMA Mobile World Congress took place from 25–28 February 2019.
The Minephone WX (Wings WX) is a limited-edition, cryptocurrency-mining smartphone. Designed and produced by Wings Mobile, a Spanish MVNO and smartphone brand, the Minephone WX is specifically designed for mining Ethereum using software developed by Wings Mobile, in partnership with Neobit.
The smartphone is designed with extensive use of glass and steel for an “elegant and distinguished appearance”, with a focus on durability. Inside the high-performance MediaTek Helio Helio P60 octa-core, SoC is used both to power the Android OS and its mining operations. It’s paired to a large 8GB of memory, 128GB of storage and comes with two high-resolution 24+16MP rear cameras for exceptional photography.
Although nothing stands out about this phone just looking at the specs, the manufacturers claim that one can mine up to 2 Ethereum per month, that is the value of about $280.
Below is the table below that compares a Miner Etherum vs the Minephone WX:
The company writes:
“The projections concerning the trend of the Etherereum estimate that at the end of 2021 its value will be €5,000. This means that all owners of a MinePhone Wings WX 1000 have a revenue potential of €360,000.”
There is no way specialized mining equipment can mine more efficiently than a phone. The mining actually takes place in a third party mining pool. The WX is connected through a Smart Contract and receives a daily reward according to the mining power that had been previously contracted. Using the DDR (Doppler Data Rate) protocol through an Internet connection and depending on the connection hours, the Ethereums are deposited directly into the customer’s Ethereum wallet. The POD system (Proof of Data) is responsible for generating and creating coins for the user, making it the only system capable of mining by and for the user effortlessly.
The company has to make its policies more transparent and open so that many amateurs don’t get tricked into buying something that they don’t fully comprehend.