As the success and growth of blockchain-based cryptocurrency have proven, the future will witness a decentralized, efficient, and comprehensive global ecosystem. At this juncture, we would like to present MIB Coin, which will provide opportunities to participate in mining and to connect with more businesses as ‘whoever, wherever and whenever’ using mobile device via an innovative SmartX blockchain platform. MIB Coin’s blockchain network is maintained by a smartphone hash. Assuming a smartphone is working 24 hours a day for a year, it will use approximately $10 worth of electricity. Compared to the power consumption of the existing blockchain miners, this is a 99.24% improvement, offering greater eco-friendliness, lower cost and higher accessibility.
This solution will improve mining participation in areas with unstable power production, such as Central Asia, Africa, South America, and South East Asia. Even in countries where extensive mining is taking place, the SmartX blockchain network can bring a significant reduction in the extremely high power consumption rate that often causes social problems, resulting in social cost savings needed to maintain the blockchain.