What is Phoneum?

in phoneum •  6 days ago

With over 2.1 BILLION smartphones existing in the world today, the market is ready for a truly mobile only cryptocurrency that appeals to the masses.

The Problem

Today, only those who own specialized, high-powered mining rigs or develop mining farms are able to successfully profit from cryptocurrency. While mining is still technically possible for anyone, those with under-powered setups will find more money is spent on electricity than is generated through the mining process.

The Solution

The dedicated blockchain and custom algorithm is for mobile devices only (no PCs). This means equal opportunity for all miners, as well as low power consumption, and no need for expensive equipment purchases. Earning PHM can be done through the mining, by verifying transactions — Proof of Work (POW) — on the blockchain as well as time spent in the app — Proof of Time (POT).

The Blockchain Technology

Blockchain technology and cryptocurrencies are quickly becoming mainstream, but very few are used as a preferred payment method. ePayments and e-commerce still rely almost exclusively on financial institutions serving as trusted third parties to process transactions.

What is Phoneum?

Phoneum offers scalable blockchain technology designed for mass adoption through the use of a free mobile app. This app is available for Android™ on Google Play and in the App Store for iOS™. This mass availability allows for everyone to be involved in decentralized cryptocurrency.

Potential Opportunities

· In-game purchases, replacing ad networks

· Standard software installed on all cellular phones so that out of the box the owner can mine to offset the cost of their service plan

· Fiat currency replacement

Android is a trademark of Google LLC.

iPhone is a trademark of Apple Inc.

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