Electroneum (ETN) – New Mining App Set for Mass Adoption
Electroneum (ETN) – plans to be a mass adopted cryptocurrency long term and most definitely is advanced enough to maintain a strong position in the market. Releasing a new app today, Electroneum allows users of smartphones to mine cryptocurrencies on their phone or tablet. This new service can exponentially increase the cryptocurrencies price and is expected to be downloaded by many enthusiasts in the crypto community. By making the mining process more simple, we can expect to see new miners who aren’t as “geeky” as our usual suspects. This is good news as it means that Electroneum is in the process of some mainstream momentum. Electroneum is the first cryptocurrency that allows users to mine with a mobil phone. All you have to do is download the app and you are good to go. No other currency has a mining system quite like this that allows you to earn coins so easily. With platforms like this coming into fruition, experts believe that a $1 dollar price is not far away.
This is a big deal. In order for cryptocurrency to become more popular and used in the real world, it needs to be less difficult. A mobil miner will allow any owner of a specific smartphone like an Android to make some money mining. It uses very little electricity and only a small amount of data. As more and more people are getting smartphones everyday, growth in ETN seems inevitable. CEO Richard Ells reassuringly states that phones will not heat up, use a lot of battery or get worn out and slow down. Data will be used only to communicate with the server for transactions. Ells goes on to say that usage of data will be so slow that users in third-world countries will even be able to participate. The ENT team has developed an algorithm that assigns users phones a mining rate based on available CPU power; so although the app will mine based on the CPU capacity of your phone, it won’t actually be using any CPU power.
Electroneum (ETN) CEO Richard Ells: Image source: youtube.com
While Electroneum (ETN) is consistently in the top 50 market capitalization as of late, it seems like more progress is ahead and the $0.07 cent is a temporary “sale.” ETN isn’t even available on major changes like Binance. This is something that can happen in the near future especially if the mobile mining app does as well it sets out to.
Electroneums website says they are currently in negotiation with some “enormous global brands” that are very interested in adding Electroneum digital payments as a means of pay on their service. Electroneum has more than a million agents in developing countries who trade or sell data to consumers. As these agents begin accepting Electroneum as payment, crypto will quickly go from the tech-savvy enthusiasts to an everyday method of payment.
Electroneum (ETN) Chart: Image source: coinmarketcap.com
Electroneum has announced that their iPhone IOS version has been written and is fully functional but it has not yet been approved by Apple. If the app is a success among Android users, then Apple will most likely approve it.
Electroneum Rise to Top 50 Market Cap
Electroneum combines blockchain and cryptocurrency with mobile ubiquity. Designed entirely to be used by the masses, a lot of the major deals in place right now are agreements with mobile providers.
With over 120,000 contributors, Electroneums ICO closed two weeks early due to reaching $40 million hard cap much quicker than expected. This is most certainly one of the most successful cryptocurrency crowdfunding events the community had seen.With technology evolving everyday, what once was only possible on a computer is now possible on a smartphone. ETN’s app for crypto mining means users of Electroneum don’t have to look for expensive hardware to mine their coins.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.