Currently, Cryptocurrency is mainly well known by nerds and early adopters. It would be a huge step forward if mining and paying with cryptocurrency would become a lot easier. Electroneum wants to take cryptocurrency one step further by bringing it to the world of mobile phones. From which there are 2.2 billion in the world.
What is Electroneum?
According to the whitepaper of this startup, the purpose of this new cryptocurrency is as follows: “Electroneum, built on its own blockchain, has been developed with the explicit intention to realize mass adoption of cryptocurrency through 2.2 billion users of mobile phones.” In this whitepaper, Electroneum is clearly positioned as a simple alternative to Bitcoin.
The developers of Electroneum have developed an app that allows smartphone users to easily mine and pay with this currency. The idea behind Electroneum is that it must be available to the mass. Therefore, the process of mining, the cracking of codes that can earn you Electroneum, is quite simplistic compared to the main competitor: the Bitcoin. Electroneum is CPU-friendly and therefore minable with both your phone and your computer’s processor. Electroneum’s development team will publish the phone and windows apps right after the crowdsale. The Android-app is already available.
A cryptocoin has only value if it can also be used to pay with. The developers of Electroneum want to focus on adopting the currency in Gaming and Gambling as soon as possible.
What can you do with the coin?
For the time being, you can mainly trade Electroneum at exchanges. In addition to that, you can also mine the currency through the various apps. In the meantime, Electronium is meant to become a method of payment, with the developers initially targeting gaming and gambling sites.
What does the roadmap look like?
The developers of Electroneum have made the roadmap largely dependent on the amount of money raised by this ICO. The developers claim that some tools will be available immediately after the crowdsale: the blockchain, an app-based wallet, app-based mining, an offline wallet, a windows wallet and miner, mining pool software, a blockchain explorer and an API to enable third parties to accept Electroneum as a means of payment.
Why an ICO?
This crowdfundig is primarily aimed at raising funds so that the currency and its marketing can be developed faster. The coins that are not sold during this crowdsale will not be burned. These will be used to increase the revenues of mining via the mobile phone, if these profits are to low.
What are the details of this ICO?
|Total coins issued||6.300.000.000|
|Price||1 dollar gets you 100 Electroneum|
|Bonus||Yes. 50% in the first week of the crowdsale, descending to 0% in the last week.|
|Dividend||No. But you can mine the coin.|
|Data||From September 14th to October 31st|
The video below explains what Electroneum is and what the benefits of the coin are, according to the developers.
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