Aaaand were back! Another episode from the weekly Crypto Chronicles, this time I’m going to be bringing you something which is a little closer to home (for me at least) in Electroneum. That’s right, the crypto startup being focused on today is one which all Brits can feel a little fuzzy sensation about, as it is one of our own.
That’s right, our first real British crypto currency is here, with it’s own blockchain. As explained in a number of posts, the blockchain is the underlying technology off which the crypto currency is built. The usual case with most crypto currencies is that they utilise a pre existing, open source, blockchain technology protocal and configure it to meet their requirements. However, by building their own system it is assumed that Electroneum will be able to achieve exactly what they need to with their technology.
So, we know they’re British and we know they’re creating their own blockchain, but what on earth do they actually propose they will do with all the investment they recieve?
Simply put, Electroneum proposes to “bring crypto to the masses” by tapping into the rapidly growing mobile phone community, which is already estimated to possess around 2 billion users.
How will they do this I hear you ask, well it’s simple, or at least it seems so from their whitepaper, Electroneum propose to users of their mobile wallet/app to mine directly from their phone while playing specially made games within the Electroneum app, and by also allowing users to buy crypto currencies directly from their phone, in the Electroneum app.
It is generally thought that, by getting mobile users to begin to pay a slight bit more attention to the cryptoverse, it will inspire them to begin to look into areas such as CPU and GPU mining of the currency. Richard Ells, creator of electroneum, has been on record stating that Electroneum was created with “the mobile user in mind” and it is also listed in the companies white paper that they intend to branch out to the gaming industry.
I have been a buyer and holder of bitcoin and Etherreum for a long time but this will be the first ICO I buy into. https://t.co/kGu1BtcvZO
— Duncan Logan (@duncanlogan) August 21, 2017
As you can see above, so far the company has recieved some amazing press from the likes of Yahoo Finance, ICO Bench and Duncan Logan – a man who assisted with the success of Spotify, Hootsuite and Uber – and tokens are still available with an ICO discount, although that is to change in the near future.
As always, find the details of the ICO below and enjoy!
Please remember that this article is not to be taken as any form of investment advice and that you should do your own research before investing your hard earned cash into anything.