Oneplus introduces Cryptocurrency mining:
Cryptocurrency and cryptocurrency mining has been in the news for quite some time because of the famous rise of bitcoin.
What is Cryptocurrency:
In simple words, Cryptocurrency is the digital money which is designed to be anonymous and secured using cryptography. Which means any of the third party will not get to know the information about the sender or receiver.
Bitcoin is the first cryptocurrency which was introduced in 2009. On seeing the success, many other companies introduced their own cryptocurrencies.
What is Cryptocurrency mining:
Cryptocurrency runs on a shared ledger which duplicated several times across a network of computers. This ledger/document is known as the blockchain. All the cryptocurrency holders will get this updated document/ledgers.
This blockchain holds the Details about the ownership of every single cryptocurrency and every single transaction made in the circulation. Users who use powerful computers run this blockchain. These users are the Miners.
The Miners function is to keep the computers run and update every time for every transactions and also make sure the authentication of the information.
These Miners will get payment for their services either by Physical cash or cryptocurrency based on their agreement with the vendor. This whole process is Cryptocurrency mining.
Oneplus in it’s recent tweet, teases pei Coin cryptocurrency mining in mobile devices which is going to be exclusively for OnePlus users (Oxygen OS users)
Below teaser is also available in the Oneplus site where Carl Pei , Co-Founder of Oneplus says Change is coming.
Mining in smartphones means you have to keep your smartphone “ON” to let the crytocurreny transactions happen and you’ll get the payment for the same.
How to participate in Cryptocurrency Mining:
OnePlus users can sign up here, to get the updates on this.
However, no other information like payment details, eligible devices and countries are yet to announced by the company.