Altcoins Talks - Cryptocurrency Forum
Wider Crypto World => Marketplace & Bitcoin Services => Advertise Your Stuff => Topic started by: AmazeWallet on September 05, 2023, 11:41:14 AM
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Hi all,
New here! I’m Matt from AmazeWallet. We’ve been building a new blockchain for the last six years that runs on mobile and are looking for people to test the app and become an early miner. Would you be interested?
Our Chain and App Whitepapers are available on our AmazeWallet website. It is EVM-compatible and uses ZK, sharding, layering and a new VRF-VDF consensus mechanism to deliver over 300k TPS (yes, really). We’ve designed it to run on end-user devices, where your mobile can broadcast, verify and generate blocks!
We believe smartphones are the key to mass adoption of blockchain and can overcome a lot of scalability issues—we all have 5G enabled quad-core processors sitting in our pockets…
We just launched our app on iOS and Android and are looking for early testers to try it out and let us know your feedback. Below is the App Whitepaper. The chain and native currency are already listed and we’re in discussions with several more exchanges.
Visit the website to learn more.
Thanks,
Matt
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Mining is usually performed with a use of CPU (processor-based), GPU (video card-based) or via ASIC (application-specific integrated circuits). The most well-known mining-based cryptocurrency is Bitcoin, however altcoins can be mined as well, such as Monero, Litecoin, Zcash and so forth.
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Mining is usually performed with a use of CPU (processor-based), GPU (video card-based) or via ASIC (application-specific integrated circuits).
This is only true for Bitcoin and the likes due to the computation power needed to mine a block
There exist coins that were mined by phones like Pi coin.
@Amazewallet checked your project review and your users aint quite happy
Labelled you a scam
I think i would take the word of multiple individuals.
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If amazewallet is open source, you can get a free review, but it appears that it is closed source, and therefore you need a paid campaign, since you may make profits from the closed source code.
I searched and found that you have a page in GitHub but it does not contain codes ----> https://github.com/WeAreAmaze/amazewallet
Mining cryptocurrencies using your phone is a good thing, but the claim that it consumes 1-2% battery per day does not seem realistic.
The ease of mining cryptocurrencies using the phone means that their price will be low, as Bitcoin in the early days, when it was possible to mine it from the phone, its price was less than $10, and therefore I started adjusting the difficulty, so the price of the currency will always remain low.
If the difficulty is adjusted, investors will not be able to mine it using their phones.
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I never believed in mining with mobile phones CPU's. I know that we could mine some XMR back in old days, maybe still possible, but that does not worth it. They claim it do not consume much energy which is a pure lie. When your mobile CPU works 24/7, how do you expect it not to consume energy? The profitability is terrible. You won't be able to buy a coffee with the money you will mine for a month.
As hugeblack already said, the app is closed source. What if you put some malware or spy on the app? Surely people care about their security and privacy. Nothing is free in 2024. You have to pay the testers! ;)
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I also have doubt about your wallet, primarily because claim mining only use 1%-2% battery per day. While theoretically you can limit CPU usage to converse battery, it also means far lower mining hashrate which leads to far smaller income.
Mining is usually performed with a use of CPU (processor-based), GPU (video card-based) or via ASIC (application-specific integrated circuits).
This is only true for Bitcoin and the likes due to the computation power needed to mine a block
There exist coins that were mined by phones like Pi coin.
--snip--
Aside from controversy/scam accusation around Pi coin, IMO mining isn't appropriate term since AFAIK since it doesn't use your smartphone CPU or GPU to perform certain computation.