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The Los Angeles startup Coinmine announced the launch of Coinmine One, an elegant plug-in device that aims to simplify the complex cryptocurrency mining process. Similar in size and appearance to an Xbox, Coinmine One is designed to allow anyone to easily extract cryptocurrencies. He started selling Wednesday for $ 799.
"Crypto is not just about buying and selling magic coins on the Internet," said Farmine Nivi, Co-founder and CEO of Coinmine. "These are people who combine calculus to decentralize money and information from the hands of the few and into the hands of many, and we've made it easy enough for anyone."
Coinmine One aims to be a more practical and easy-to-use alternative to the typical crypto hardware and software used to extract cryptocurrencies. It replaces the various do-it-yourself hardware and wallet solutions that are difficult to install and upgrade, with a single plug-in device and a mobile wallet powered by a proprietary operating system.
Users simply need to connect Coinmine One, which according to the company uses less energy than a PlayStation, touch the mobile app and select the coin to be powered. From there, the mobile app monitors and tracks the miner's activity. Users can see how much encryption they have earned, switch to another encryption, or add other Coinmine devices to their account from the dashboard.
Coinmine's operating system, MineOS, allows you to run different types of networks on a single device. He currently supports Ethereum, Ethereum Classic, Monero and Zcash mining. Other cryptocurrencies will be added in the future, including Bitcoin Lightning, Grin, Dfinity and Filecoin, the startup said.
Launched just this year, Coinmine has already raised a total of $ 2 million from Coinbase Ventures, Social Leverage, Arrington Capital, Wonder VC and angel angel as Balaji Srinivasan, chief technology officer of Coinbase and the former chief Tinder's product officer, Brian Norgard, who also signed as an active advisor.
"There are many parallels that I have drawn from Coinmine and Tinder," Norgard told TechCrunch. "Online dating was very complicated six years ago, it was a tough process, as was mining." You have to be sophisticated enough, but it takes you down to the nails. "A normal consumer without technical knowledge can enter the game. encrypted. "
Norgard stated in a separate statement:
"When Farb first came to me with the Coinmine bases, I knew it was a radically new solution to a messy problem – it was, they say, a perfect match." The limiting factor for climbing in crypto continues to be the complexity of End User: Farb and the entire Coinmine team are one of the first companies to attack this problem frontally through a mixture of hardware and software. "
