Image source: https://electroneum.com/2017/11/21/electroneum-update/
So today is the day!
The creators, based in the UK, have launched their official mobile app that provides the user with free coins by ‘mining’ from your mobile phone. A working product!
How does it work?
So I say ‘mining’ because it doesn’t actually mine, it simulates mining by airdropping the ETN token (electroneum token). It will determine the hashrate of your phone based on their app, send this information to electroneum and the amount you ‘mine’ increases over time. Once you hit the threshold it will pay-out to your wallet.
The Benefits
As it’s simulated mining it does not drain your battery (no more than a normal app) or use much data. As the CEO (Richard Ells) said in a recent interview, the app sends data every-so-often to say “I’m here, mining, and my hash rate is x amount” and the app adjusts accordingly – hence small mobile data/wifi usage. One simple advantage is it’s a free airdrop/mining – good for less developed and more developed countries. One other thing…** IT IS A PRODUCT THAT HAS BEEN DELIVERED!** Many cryptocurrencies are no where near to a working product and will never reach one so this is a huge victory for the ETN team!
How do I know it will work?
I was lucky enough to get in the beta and have seen up to 2500 people online during the beta. I have yet to see any major complaints, only small things that seem to have been ironed out (the whole point of a beta!!). I wrote a quick review on it earlier (https://steemit.com/electroneum/@hmht1234/my-review-of-the-mobile-miner-beta-full-miner-release-tomorrow-electroneum)
This all sounds great – how do I get it?
- You download the app from the play store (https://play.google.com/store/apps/details?id=com.electroneum.mobile)
- Make an account for free – This creates a mobile wallet and an online wallet through the website. This is where the mined coins will go. Enter my referral code if you want to a chance for us both to win 5000 ETN. It is 6968E8
- Simply click ‘start mining’ in the app and watch the number of coins increase!
Exchanges
So you like the project and want to get coins other than the mobile app? Well there several places to get ETN.
Current exchanges – according to coinmarketcap:
- Cryptopia (note: people have had issues recently so check this out first to see if they are still persisting)
- TradeOgre (recent listing)
- Qryptos (recent listing)
- Verbitcoin (recent listing)
Exchanges coming soon:
- Kucoin (I’m personally excited for this and have seen many people waiting to buy from here)
- HitBTC
- Next.exchange (I believe it is listed but the exchange is in beta – soon to come out of beta or has recently)
Want to find out more? Visit electroneum’s website https://electroneum.com/
You will find out more, such as; the deals they have signed, patents that will soon be announced (Dentons law firm) and new partnerships that will soon be announced (I believe in a recent interview one deal will provide access to a further 190 Million people… Bitcoin currently has 20-30 million regular users).
The main aim of electroneum is to be a platform for paying phone bills, with the intention of branching out to a general payment system for other items (e.g. bag of rice, bottle of water). This concludes with the ultimate aim of mass adoption - if this works it could be big in the future.
Follow for more electroneum news
As always my posts are from the research I have done and not financial advice – Dive down the rabbit hole and research it! It’s interesting!
We just hit 17,000 now!!! This is great - it's been live for about 1.5 hours!
Wow just checked as well 21.307 :)
Let's hope the numbers are not simulated :p
Haha that's a good one :D sneakily steals pun for later use ;)
Is an IOS app also in planning? This would increase the range a lot!
They have made it and are just waiting apple app store approval, where they will do a short beta - all in apple's hands now!
Been waiting for this for awhile now! I think it's a great idea to do a simulated mining for new and experienced miners out there. I cant seem to log in because of server traffic, a good sign! Great post! :)
Yea everyone is trying to log in at once - it wil calm down and we will get on! Exactly this happened when the new app came online in December with sign ups - I was signed up within a couple hours of trying back then :) Still nothing compared to the 2 weeks and help chat for steemit sign-up though ;)
Just logged into my app and there it was working. I am only getting 16 h/s so not much but for no heat to my phone I can't complain.
Do you know does the miner still work when your phone goes to sleep? or when you open another app and keep the miner still going?
So during the beta period I 'pinned the app' so it doesn't close or stops me from accidently closing it. With this it didn't close down near the end of the beta (at the start it did but it kinda stopped after an update they released so I can assume they fixed it) unless I did it on purpose. For the last week I had mined in constantly with no problem! It should just run in the background nicely :)
p.s. they will be fine tuning it so if it does close in the early days im sure they will fix it soonish