MIB coin (MIB) is a blockchain-based cryptocurrency built on the SmartX blockchain platform. The SmartX blockchain platform is an ecosystem specially designed for mining through mobile devices. On this mobile SmartX blockchain platform, users can download the MIB app on their smartphones to start mining, transferring cryptocurrencies, compensating merchant payments, and exchanging in the mobile environment. Abbreviation for Mobile Integrated Blockchain, MIB aims to develop a sustainable, quick, easy-to-access, and low-cost protocol while building a mobile-based ecosystem.
The platform aims to empower clients to mine cryptocurrency utilizing smartphones without extra techniques. Existing blockchain ecosystems spend a vast amount of money mining and maintaining their network. Thus, to reduce the cost and maintain network quality, MIB introduced the concept of 'mobile-mining.' By doing so, MIB coin aims to expand into diverse businesses with the SmartX blockchain platform especially built for mobile devices.
According to the whitepaper, MIB coin cannot be mined using application-specific integrated circuit (ASIC) and graphics processing unit (GPU) methods. In fact, the MIB coin uses 'Smart Mining,' which can only be done on smartphones.
Further, with the help of the Mining app, the platform generates a benchmark score for smartphones and allocates a hash rate. The platform intends to withstand the computational complexity of mining without damaging smartphones' hardware due to overheating. In addition, the MIB SmartX blockchain platform seeks to be an eco-friendly, low-energy-based mining method that solves the excessive power consumption issue and keeps it at a minimal cost while creating a variety of tokens on the platform. Through this, the MIB coin platform aims to decentralize mining by enabling areas with low power generation to participate in mining.
MIB is the native token used to power the supply on the MIB SmartX blockchain platform. MIB is an Ethereum-based token that follows the standards of ERC-20. Users can mine MIB using the MIB Coin ecosystem.
