Electroneum ICO - Should you invest?
What is it?
Electroneum is a cryptocurrency designed for adoption in the mobile currency market globally, with very fast micro-transactions between apps, games and users. It has a maximum coin volume of 21 billion which according to them means that transactions will have only 2 decimal spaces and sort of a real money feel that lacks when using Bitcoin in santoshis. For more information, check out their white paper. It looks quite interesting to me!
Why it looks interesting?
- It can be mined via mobile app installed on the smartphone; they even have a free apple and android app in place that can be operational from 31st Oct onwards (day 1 after token sale)
- Utilizes the same blockchain model as Monero & Bytecoin but claims to be far more accessible and simple to use (2 decimal based cryptocurrency)
- Focus on gaming and gambling markets - the potential is definitely big here!
- Backed by Rocketspace CEO, Duncan Logan - who claims this to be the first ICO he is investing in
- Available at 100 coins per USD 1. If you invest before Sep 20th, you will get a 50% bonus tokens, between 21st to 27th, 40% bonus and so on so a good time to invest will be now
How to invest:
You can register using the link below and follow the instructions to transfer Bitcoin or Ether from your wallet to an address generated by the website and you will have your Electroneum in a few minutes. You will also receive an additional 1% bonus tokens (besides the 50%) if you sign up using the link below:
https://my.electroneum.com/join/339BD6
I think the concept looks promising considering the focus on smartphone users and 2 decimal points. For a digital currency to be mainstream, it does need to do away with a lot of these decimals that we cannot easily comprehend. Would love to hear your thoughts on this!
ICO finished early as they reached there hard cap which is impressive($40million).. Their marketing was spot on.. i think it will be one of the most successful ICOs .. A good concept and a good team, they have the right people to gain mainstream.
I hope they succeed. It is a very competitive environment and we cannot deny that there was a lot of hype around this ICO. As long as it can maintain the momentum, establish good partnerships in the long-run and bring people on board, it can be a good long term bet.
Hi Deepak @deepakagarwal. Thanks for sharing this. It's a great write-up. I agree this has massive potential especially as their main focus is in gaming and gambling markets. Here is the latest video by Crypto Rich giving some more info on the gaming markets.....
In addition, the fact that it's being endorsed by Duncan Logan (investor in Uber, etc), gives me more confidence about the technology and business case behind this token.
@jmsm2, here's hoping that they make it big in 2018! The gaming market is definitely the right focus along with securing the right partnerships in the industry.
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Here's an interesting article on Electroneum for further reading: https://www.financemagnates.com/thought-leadership/industry-poised-welcome-newest-cryptocurrency-electroneum/
Thanks for the info @deepakagarwal! Just what I was looking for!
Appreciate the feedback!
Looking at the fine print on their website, it says the mobile phone "mining" is not actual mining of real blockchain transactions but only "simulated mining". Would like to understand this more before really getting involved here. Anyone have anything further to add on this point?
Yes, there is definitely a lot of hype around this ICO. People believe it to be the next BTC but that's probably stretching it too far. Too much hype makes us doubt things a bit. The people on the telegram chat are quite passionate about this project though.
Mobile mining does not work on the blockchain, nobody would want to kill their battery or waste data on the mobiles. All coins are premined as far as I understand. It will be a market tool, generating real coins without downloading the blockchain. It will give access to the tokens by a simulated mining experience and actual rewards so that the user can join the network. This will make them attractive to gaming companies with a wide user base in the future.
Today i'm trying to mining ETN with my Intel i7 U series: very easy to mining for now :)