Since Bitcoin’s journey began in 2009 till now, the Crypto space has continued to evolve and adjust to accommodate new tokens identified as altcoins (or alternative coins). This can be categorized by the introduction of decentralized wallets and centralized platforms such as exchanges followed by listings of these altcoins and tokens for trading.
While the blockchain industry seems to be booming, crypto enthusiasts who have no capital to invest in mining rigs and GPU farms are left out of the whole mining frenzy. This drives some imbalance in the crypto space because some people are left out of the blockchain ecosystem.
Since the blockchain is an integral part of the metaverse and the World Wide Web (WWW) is evolving from Web 2 to Web 3, a higher rate and equal ground for participation is expected. The good news is that several cryptos and tokens allow you to mine and farm coins from your phone without needing ASIC miners or GPU farms.
Before we look at some of these coins that can be mined or farmed from a SmartPhone, let us look at the concept of mining as that helps us to understand how the blockchain works.
WHAT IS MINING AND HOW DOES IT WORK?
Mining is the act of contributing to a blockchain ecosystem and getting rewarded by the system with a block for the effort contributed. The block of crypto can be passed on to a solo miner or shared amongst a pool of miners. While solo miners mine crypto individually and independently, pool miners contribute their mining power to a pool and get rewarded based on the percentage of hash rate or effort contributed.
Not all coins are mineable – you gotta read the roadmap and whitepaper to be sure whether a particular crypto supports mining. You also need to know what proof, software and equipment are required for mining a specific token.
Just like Bitcoin uses the SHA-256 algorithm and remits block rewards based on proof-of-work to miners, most crypto that supports phone mining uses a proof-of-network, also known as a security circle. This implies that to have a higher mining power on the blockchain, you must refer more people to the community.
Unlike mining on expensive hardware, mining on a SmartPhone is not power-consuming, heat-generating or component-destructive. It only requires you to build a network and stay consistent.
Let’s go on to list the top mineable cryptos available on smartphones. These can help you get started with your journey into the metaverse without a need for financial commitment or expensive hardware.
1. The PI Network
The PI is one of the most popular and highly valued tokens in the World today. With over 60 million PIoneers, the PI token is scaling through lots of hurdles to become generally acceptable.
From the launch of the coin through to its test net and main net, it has gained a large traction of attention and commitment. As it stands, there are speculations that it will struggle and displace BTC as the most traded coin.
While still awaiting the open main net phase, Pioneers have started transacting in the closed mainnet phase using PI; shop owners and freelancers inclusive. This has skyrocketed the value of the coin to a reasonable amount of over $30 in recent months. Upon launch of the open main net, the coin is expected to be unstable in price at first (more people are likely to sell their coins upon the launch, then more people would likely buy and hold PI as time goes) before going up in value.
To mine PI, you are expected to download the PI network Android or iOS application and sign up. Make sure to use your real and legal name while signing up because you will be required to verify your identity before withdrawing your mined PI.
You would be required to check in to the application every 24 hours to keep on mining by clicking on the miner icon in the app. The Pi network mining app does not affect or consume the CPU, storage or performance while mining PI.
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2. Ice Decentralized Network
The ICE Decentralized Network is a blockchain community that allows everyone to participate in farming its token, staking, holding etc.
Just like the PI network, the ICE Decentralized Network token involves a proof-of-network and a proof-of-stake to mine more coins. This implies that you can mine more tokens when you invite more people to participate in the community and when you lock a percentage of your coin on the blockchain for more profitability.
The ICE Decentralized Network expects you to sign up with your original details because of a KYC effect in the future. You are also admonished to create only one account as multiple accounts owned by a single person are a violation of the blockchain community.
One commendable feature of the ICE Decentralized Network is the consistent video face detection before a mining session begins. This helps curb the multiple accounts to single user excesses in the long run and reduce cheating in the system.
To begin mining some ICE, download the Android application or sign up using the web app on your MOBILE browser only. The ICE network is currently not available on the Apple store for iOS devices but can be accessed on a mobile browser on an iPhone here. Android users can head to download the application on the Google PlayStore.
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3. Avive World: Token Gated Community
Avive prides itself as a token-gated community that allows community participants to farm a reasonable amount of tokens consistently. Participants are expected to claim mined tokens before they get to 25RD to avoid suspension of the mining process. If your mining process gets suspended, claim the available tokens and mining will automatically be resumed.
Avive is currently live on the OKX exchange and can be traded for USDT at the moment. Just like PI and ICE, AVIVE is a proof-of-network token that relies on your referrals to the community to increase your mining power per hour.
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