Bitcoin Global News (BGN)
August 14, 2018 -- ADVFN Crypto NewsWire -- There just might
be some hope for democratizing the Crypto mining space. Honeyminer,
a small, but quickly growing firm, is looking to do just that
through bringing mining back to the average Crypto user.
According to a recent article by CoinDesk, despite
the fact that Honeyminer only launched this June, they now have
around 50,000 users.
In keeping with the vision of networks like
Stellar for bringing Crypto to markets that truly need a
currency related revolution, 1/3 of Honeyminer’s users are
apparently from developing markets.
In this case, this seems to include
Africa, and most likely also South America and Central America, as
well as parts of Asia. More specifically, the same article by
Coindesk mentioned India, Indonesia, and the Philippines as some of
the countries with the most users that have recently downloaded the
Honeyminer application.
According to CoinDesk and Larry
Kom, who is the co-founder of Honeyminer, the recent influx of
users has proven by the numbers that the application works with up
to 1,100 kinds of GPUs, or graphics cards. This appears to mean
that it theoretically works with the majority of Crypto networks
because of the popularity of GPU mining
today.
Above all, however, sits
Honeyminer’s previously mentioned vision for the future of Crypto
mining. Only time will tell if their user base can rise to an
amount to rival even the titanic mining firms like Bitmain. As of
now, Bitmain’s valuation sits in the billions, meaning that it is
one of the most valuable companies in history. On top of this, it
controls the majority of the Bitcoin network’s hash rate, which
means that it has the power to change certain parts of the
network’s future as well.
When all of this is known, it
becomes clear that quite frankly, a substantial amount of carefully
placed marketing will be needed for Honeyminer ever reach the
heights of Bitmain and other industry leaders.
If, however, Bitmain’s IPO backfires in
that it brings the firm further criticism for its attempts at
centralizing an inherently decentralized industry, then Honeyminer
might find a much easier road to the top.
In short, most of Honeyminer’s
chances at unseating the industry leaders hinge on it communicating
to the industry’s users why the future of mining needs to be
P2P(peer to peer).
By: BGN Editorial Staff
News:
Cryptocurrency
Mining
Honeyminer
Cryptocurrencies