Startup company supported by Coinbase Coinmine has unveiled its first product, Coinmine One, which is now available for pre-order for $ 799.
Coinmine One currently supports Ethereum (ETH), Ethereum Classic (ETC), Monero (XMR) and Zcash (ZEC) extraction. The entire process is controlled by a smartphone app and the company notes that it will release periodic updates to the miner's operating system, MineOS, to keep up-to-date with the latest updates of the consent algorithms and new project launches.
MineOS software aims to expand beyond the working test (PoW) algorithms to support the game test (PoS) stakeout.
"Staking allows you to earn interest in your crypto that normally remains inactive in your wallet.With automatic air changes to your Coinmine One, you can be one of the first to upgrade Proof of Stake networks like Ethereum and Dfinity to their first launch ", reads the company's website.
The device itself contains the AMD Radeon RX570 GPU and 8 GB DDR4 RAM and has a hash frequency of 29 Mh / s during the extraction of Ethereum. While this means it will take about 5 years of continuous mining to reach a draw, Coinminer bets on the fact that the elegant design of the miner and the usability of the app will help lower the entrance barrier for those who do not know cryptography.
Furthermore, the company is planning to offer an exclusive cryptocurrency, Smile, which is an experimental currency for privacy built to adapt to use. It is an implementation of the MimbleWimble protocol, without addresses or amounts.
Coinminer is not the only startup that develops mining encryption devices. French Startup Qarnot soon he will launch the QC1, which features two AMD GPUs (Sapphire Nitro + Radeon RX580 with 8 GB of VRAM) that collect Ethereum at a speed of 60 MH / s by default and produce enough heat as a byproduct to heat some rooms in the house.
Other: Startup supported by Coinbase launches $ 799 Home Crypto Miner
Related: Qarnot releases a cryptocurrency miner designed to heat your home
Disclaimer: the author of this article has participations in cryptocurrency that may be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct due diligence before making investments.