New Phone Mines Cryptocurrency
“The crypto world is under threat from the domination of the hashrate by giant mining pools...The most effective way to eliminate this problem is to make mining accessible for the masses, and that is through mobile.”
Phil Chen, the "decentralized chief officer" of the project explained. The Exodus 1S phone will mine the new currency "Monero" at $0.0038 per day, or $1.387 per year. The device will automatically mine the currency when it is not in use for long periods of time - and it is designed to do so without noticeable power drainage.
The estimated costs for the electricity to mine is generally 50% of what is mined. It may seem like a lot, but many people who mine with small computers at home can cost up to 200% of what is mined - often operating at a loss.
With a $230 price tag, the phone would take around 300 years to pay off with mining alone, but the Exodus is more a statement. It's the first of many phones that will become useful when they aren't being handled. That is the exciting thing about the Exodus.