After much debate in the last week between if Electroneum could pull off producing the first safe, sucessful coin to be mined on mobile phones, their dev just posted this today.
As for the mobile mining, do you have dater in regards to sustainability? Could it destroy the phone over time? Or is the load the phone has to cope with reasonable?
The mobile app is centralized and runs off a twin algorithm that emits coins from the blockchain at approximately the same rate as the full miners based on a CPU benchmark of the phone. This allows the phone to
run without getting hot and without using tons of power and bandwidth that previous attempts at phone mining have needed. But remember, they are not bringing blockchain utility, they are bringing a different utility - they are bringing on users at a ridiculously low CPA, and allowing Electroneum to have viral growth.
We’ve combined a decentralized blockchain with a centralized viral marketing app, that encourages the adoption and accumulation of cryptocurrency through “gamifying” the experience. We call it the Mobile Mining Experience. Our blockchain emits coins to our mobile app users for bring a different utility to the blockchain. Electroneum full miners earn the most coins and that runs on Windows, Linux and Mac computers. They bring the utility of blockchain administration and are rewarded with Electroneum coins. The mobile miners bring the utility of viral marketing to Electroneum and are awarded with a number (smaller) of Electroneum coins for doing so. It's done in a way that encourages app usage. We've essentially gamified the mining experience, making it appeal to mobile computer gamers (there are over 2 billion of them!).
I myself dont see much of a problem with them having a central processor. Iota brought returns in the thousands of percents and they have a central part called the "coordinator" they use as well.
The first response was,
We know electroeum needs to be accessible to people mining on mobile phones. We all know the result so far, its horrible. They have figured out a way to do this by having a specialized algo and a processor. The people mining with their computers cpu on the main algo will be powering the blockchain. This means it is still decentrailzed.
Some people may complain that it has a centralized componet to the mobile miners, but it doesnt bother me. Im here with what I see as cryptos first chance to really be taken to the masses. We see they have the tech innovation necessary to come thru on their claims to take mining a cryptocurrency to 2 billion users of mobile devices.
It also cant be cloned as easily, or the innovation stolen with it needing a central processor as well.
They are powerhouse marketers, and now that these guys have added gaming to it as well, they will easily penetrate the market with this.
You can say its not decentralized enough for you, but I think someone would be hard pressed to say this is going to lose you money buying in at $.0067.
With the app downloads reaching just 5 million users, which is low in that industry, it would have far above the amount of users as Bitcoin. This you bought for $.0067 and Bitcoin is valued at $4000++. There will be many LEVELS of those buying and selling as the price establishes itself, which call me crazy, but with:
A. An innovativation in cryptocurrency by being first to sucessfully take effectiive mining mobile.
B. Have the product finished at the time of crowdsale
C. Have top of the line, ultra rich, real world marketers behind it.
these things make it pretty hard NOT to go up.
Ive seen much, much more, done with way, way less here.
Ladies and gentleman, I am very, very bullish on this after learning about it in the last few weeks. I agree with blackwidow on this. What do you think? Have they gone too far to produce a mobile miner that wont ruin your phone?
