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RE: Electroneum ICO - Should you invest?
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.