[Electroneum] Weekly News Roundup (19/03/18)

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Current Price: £0.024 | $0.033

A few days late this time, due to Steemit being upgraded on Friday, but we've got lots of Electroneum news to go over. It's been another devastating few days for the Cryptocurrency markets, with losses occurring across the board. The price of Electroneum dipped to its lowest ever price, at just below £0.02 per coin. New cries of a bubble being burst come from the mainstream media and greed-driven speculators. Business, however, continues as usual. Let's get straight into the latest updates.

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Mobile Miner Boost & Payouts

Since it's launch at the beginning of this month, the Mobile Miner has seen two huge increases in the amount paid out, which is great news for us all. The number of people using the Mobile Miner at any one time is currently hovering just a few digits shy of 70,000 users, which is spectacular. All of this, and without any kind of promotion. Many users are reporting positive results from their first few weeks of using it, although I've seen a few complaining about battery issues. First, it's important to note that the iOS version of the Mobile Miner has not yet been launched, so iPhone users should be careful about downloading third party apps. In fact, this applies to all mobile users. Avoid third party apps, and try to avoid directly mining on your mobile device, they just aren't built for that kind of heavy use. Also, you'll be doing good if you even manage a tiny profit after all things are considered. The Electroneum Mobile Miner does not mine cryptocurrencies, and so does not put any strain on your device. iPhone users, be patient and the Mobile Miner should be with you soon.

Shortly after launch, some users were reporting issues with receiving their miner payouts. This problem seems to be largely resolved now, in fact transactions in general seem to be speedier and less prone to bugging out. As this is a new project, there are still many issues that'll need ironing out before Electroneum can expect to really take off. The team seems dedicated and honest, so hopefully we'll start seeing this being reflected in the price.

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KuCoin Exchange Listing

KuCoin have announced that ETN has now been listed on their platform, which is one of the top exchanges in Asia. This announcement has been several weeks in the making, but ETN is now being opened up to more and more markets. Unfortunately, the timing of this with the current cryptocurrency markets isn't great, so we aren't see the boost to the price many would have hoped for. KuCoin has a great reputation, and this should go a small way towards rejuvenating the stagnant markets of late.

As I'm writing this, the Electroneum team have also just announced that they will soon be listed on megaXcoin, with them working on integration as we speak, so expect a date of acceptance to be revealed soon. It's all go over at Electroneum towers this week!

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Facebook Live Q&A with Richards Ells

Last week, Richard Ells held a live Q&A session via Facebook. It was held in the Electroneum offices, and gave the community the opportunity to ask Mr Ells some important questions. I've only had the time to skim through the video, but it appears to have gone down well with the many fans who tuned in. There was nothing particularly groundbreaking revealed in this interview, but it's interesting nonetheless.

The comments from the community is the usual mix of confused and angry people, fan boys of the project as well as some genuinely good suggestions for the team. Reading comments from people who are angry because they haven't been able to afford their sports car yet make me sigh out loud. Anyone thinking they're gonna become millionaires from investing a small amount in cryptocurrencies is deluded at this point, that ship has sailed. Regulation is on the horizon, which is desperately needed. In order for cryptocurrencies to really take over as a real payment option, the prices really need to settle down, and that could well be what we're seeing currently. I guess, only time will tell though.

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Cryptopia Wallets

There have been many issues with the Cryptopia ETN wallets, and at the end of last week Cryptopia made a statement via Facebook. You can read the full thing here, but the tl;dr version is that the ETN wallets, which is a fork of the Monero wallets and network just can't keep with with demand. In the post they stated;

"As an indication we have seen more transactions in the last few months just in our ETN wallets than the entire Monero network worldwide has had in the last year."
From Facebook Statement

These are really fundamental problems that the whole Electroneum network suffers from; it just wasn't built for this volume of transactions. In order to differentiate itself from other Crypto projects, and more specifically other Monero-based projects, they need to upgrade their core code to allow for scalable growth of the network. This is arguably one of the most common problems with the majority of crypto projects at the present time. They just can't cope with the demand, take the issues with Bitcoin late last year and early this year when the price was at an all time high. Transactions were taking days to clear at some points. The first project to successfully solve the scalability and demand issues will no doubt be the king of the next gen cryptocurrencies.

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bitbns Exchange Listing

Another exchange listing announcement, this time for Indian based exchange bitbns. Bitbns is one of the most successful exchanges in India, and now brings ETN to over 1.3 billion people. ETN is live over on bitbns, however many users from outside of India are saying that they can't sign up, so we may only be able to observe how ETN performs over on bitbns.

The number of exchanges that list ETN is growing week by week, which should hopefully bring ETN to more and more people, making it a serious contender on the crypto scene. There are many advantages to ETN that are regularly overlooked, such as it's privacy and security which it has largely inherited from Monero. As mentioned above, focus needs to be directed towards ensuring the scalability of this network and it's ability to handle high volumes of transactions.

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1 Million Registered Users

To wrap this roundup off, we have the big announcement that Electroneum now has over 1 million registered users with an active ETN wallet. All this in such a short period of time, but this is hopefully just the beginning of ETN's adventure. In order to achieve their goal of mass-adoption, they still have some hurdles to jump over, but they certainly seem to be heading in the right direction.

Well, that's this weeks (or rather, last weeks) updates covered. What do you think about these latest announcements? Are you excited for where Electroneum is headed, or are you more skeptical about the project? Let me know in the comments down below, and as always make sure to follow me for the latest Cryptocurrency, Internet and Pop Culture updates. Until next time, Peace!

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Sources:
Electroneum Official Facebook (https://www.facebook.com/electroneum/)
Electroneum Official Blog (https://electroneum.com/blog/)
Electroneum on CoinMarketCap (https://coinmarketcap.com/currencies/electroneum/)

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