New mining app
Honeyminer is a new Crypto mining App that is gaining popularity. In the past, it was easy to mine cryptocurrencies by just using a normal CPU. However, it has recently become an arduous process that requires very expensive and powerful mining machines. Honeyminer therefore brings users relief and opportunity.
Headquartered in Hoboken, New Jersey, the mining startup has already amassed 10,000 downloads worldwide. The app enables users to access a dynamic mining pool that runs the app when a computer’s graphics processing unit (GPU) is not in use processing videos or process images.
The startup company launched its free beta in June 2018. It is not a “get-quick rich scheme” but it allows anyone who has access to windows on personal computers or laptops to earn small amounts of Bitcoin. Earnings are dependent on the power of a user’s graphics card as well as overall market environment. Newer personal computers/laptops can generate anywhere from $15-$75 per GPU per month. Funds are then immediately deposited into the user’s wallet.
How Honeyminer works
The software is closed source with plans to extend an open Application Programming Interface. Their mission is to be the best mining client available to everyone worldwide. The startup is working on a specialized version called “Honeyminer Pro”.
Honeyminer has a unique algorithm that automatically switches between cryptocurrencies depending on block size every 10 minutes or thereabout. The proprietary algorithm scans through dozens of cryptocurrencies to spot the most profitable coins to mine at any given time.
A miner does not have to manage all the settings and configurations or check prices manually. The app’s unique algorithm also assists miners with professional mining rigs. The app uses secure socket layers (SSL) as well as aggressive encryption that ensures that information passing through the servers is anonymous and protected.
Users’ digital assets are stored in cold storage to prevent online threats. Additionally, the site offers a 2-factor authentication to safeguard accounts. Honeyminer’s app is still in its early days, but it if it catches on, it will liberate mining from the massive operations that currently dominate the field.