The complex process of cryptomining is simplified into one device and connected app through this smart innovation.
Cryptocurrencies have taken off in recent years. Many people know of Bitcoin, but there is much more to the digital currency than that. Springwise have covered a range of cryptocurrency-based innovations, such as a TV set from China that mines for digital currencies or a screensaver that uses cryptomining to raise money for charity. Yet cryptocurrencies and how to benefit from them can seem like a huge challenge to the uninitiated. This Los Angeles startup is seeking to bring cryptomining to the masses.
Coinmine saw the potential in simplifying the process of cryptomining into one device. Simply put, cryptomining is the process of verifying and collecting various forms of digital currency into blockchain ledgers. Coinmine have centralised this system into one hardware device small enough to sit on your desk. The Coinmine One uses electricity and computing power instead of traditional money to earn cryptocurrencies.
The current traditional processes of cryptomining mostly involve several forms of hardware, often needing to be custom-made, and a high level of understanding of cryptocurrencies. The Coinmine One can dilute these processes easily, opening up opportunities in cryptocurrency to a wider range of people. This new level of accessibility means that investing in digital currencies will be faster, easier, and infinitely more simple.
Users can track their wallets through a connected app. The clear interface allows users to see how much they’ve earned across various currencies. They can also add new currencies for the device to mine. The operating system, MineOS, enables mining across various networks, including Ethereum, Monero, and ZCash. New networks will be added via automatic updates. The device currently retails at USD 799.