Electroneum is a cool concept built around mobile phones.
It is a cryptocurrency platform designed for App based mobile mining. The coin is also designed to be used by those who have been locked out of the financial system, and has simultaneously opened up new markets for use in gaming and gambling.
The community boasts signed agreements with well over 100 million user accounts.
In the first 40 days, over $750 million USD of ETN was traded, and the market cap is pushing upwards of $800 million!
Electroneum as a technology want to target the massive untapped market of people who have been hesitant to get into cryptocurrency due to its somewhat complex nature.
For those looking to get involved, there are different ways to earn Electroneum.
You can mine through the app and simultaneously play the game (an idle miner 'tycoon'-like game which is designed to teach you about cryptocurrency) that comes with it (for additional coins), thus achieving the act of mobile mining! It is also possible to mine on desktop computers, and with the special way it is designed for minig, the app won't eat away at your data! However, at this time, Electroneum is only available for the Google Play store.
An example of how Electroneum could be used is through the selling of game accounts, whereas the company that owns the game could set themselves up on the network to earn on transactions from the sale of those accounts. A win-win situation for company and consumer.
The cryptocurrency is set to have 21 billion coins in total, and underwent a hard cap of $40 million USD (6.3 billion coins) with 20 million having gone to the developers.
The Electroneum subreddit community is huge, well over 15,000 subscribers. Check them out!
One interesting thing to note about Electroneum is the hash addresses seem to be much longer than your typical crypto.
Having said that, it is a really cool concept; And if you have an Android phone, be sure to check it out!
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