Samsung built mining farm with old Galaxy S5

Subdivision of the South Korean giant Samsung, introduced a cryptocurrency export unit consisting of 40 old Galaxy S5
30 October 2017   2498

A team of engineers from C-Lab, a subdivision of the South Korean giant Samsung, introduced a cryptocurrency export unit consisting of 40 old Galaxy S5 as part of the program for processing old smartphones called “Upcycling”. This is written by Motherboard. 

Galaxy S5 mining farm
Galaxy S5 mining farm

Engineers combined forty old Galaxy S5 smartphones and created for them an operating system optimized for the crypto currency mining. According to the developers, eight smartphones can work with much greater energy efficiency than a pc with medium performance characteristics.

Samsung Galaxy S5 mining farm
Samsung Galaxy S5 mining farm

Mining farm was presented at a developer conference in San Francisco. In the future, C-Lab plans to release free software that will "unlock the potential of older devices" even better.

Old Korean Social Network to Close After Tokensale

Cyworld platform started operating back in 1999 and it conducted an IEO at CoinZest this year
14 October 2019   49

Investors who acquired the clink cryptocurrency issued by the South Korean social network Cyworld are worried about the status of their investments due to the company's sudden closure, reports Korea Times. Some of them are ready to go to court.

The Cyworld platform was launched in 1999 and was especially popular among the country's population until the mid-2000s. The company, however, failed to see the trend towards the development of mobile solutions on time and as a result lost its position in the market. On October 1, it closed her platform without posting any warnings to users.

At the same time, the Clink site was unavailable, and Cyworld management continues to ignore the numerous requests of investors. The Korean exchanges CoinZest and BitSonic, where Clink is still being traded, are considering delisting the asset. Industry officials say Clink's investor losses will be at least 1 billion won ($ 845,000).

Clink's primary distribution was through IEO through the CoinZest platform earlier this year and, according to the Korea Times, it was the company's attempt to bring a fading social network back to life. A total of 24 million Clink tokens were sold for a total of 480 million won ($ 400,000).

In the second half of 2019, employees who have not received salaries since the end of 2018 began to leave the company en masse. Since the start of trading, the Clink price has fallen from 26 won to 0.19 won. According to the Coingecko portal, Clink's current capitalization and revolving volume are unknown, while the marginal issue volume is 10 billion units.