Quote from: startsts on January 16, 2018, 12:03:26 AM

Quote from: Kapz786 on January 15, 2018, 11:07:43 PM

Quote from: Everyday Future on January 15, 2018, 11:03:12 PM

Alright, so I was curious about mobile mining, so I decided to read by myself their whitepaper.
1. There is no direct link to the whitepaper on their website's frontpage (at least I couldn't find it for 2 minutes)
2. Dscription of mobile mining actually is not on the whitepaper but in the second document, more techy one

here is about mobile mining:
http://electroneum.com/technical-white-paper.pdf

Mobile Mining Experience
The mobile mining experience is the only part of Electroneum that is a centralized system and not a decentralized
one.

Weve taken the view that whilst the Electroneum blockchain is a decentralized system, it is only fully decentralized
in all other aspects outside the mobile app and mobile mining experience. Weve taken the view that the positive
benefits to be gained from a centralized app and mobile mining algorithm outweigh any negative aspects.
Experiments in using the same algorithm that the blockchain uses for standard mining on a mobile device have
been carried out by various cryptocurrencies in the past and they generally drain the battery, result in poor
performance and often cause issues with the quantity of data used in downloading the blockchain. They have also
been know to make devices run uncomfortably hot.

As such the algorithm for the Electroneum mobile mining experience reflects the Electroneum emission algorithm
+Y / app miners / X, where Y is any additional coins left over from the token sale and X is the time period of
emission which is a restriction based upon a minimum coin release for mobile mining experience and a maximum
mobile mining coin release and control is also subject to the market value of Electroneum (if any). The minimum
mining rate will always be a reflection of the Electroneum smooth emission algorithm and the maximum mobile
mining rate is a series of failsafes and security checks to prevent whale mining and virtual app environment mining
and ensure individuals taking part in the mobile mining experience are treated fairly.

The mobile mining experience does not download a copy of the blockchain or carry out intensive CPU operations
to provide egalitarian proof of work, it is intended to give entry level access to a cryptocurrency by allowing the
experience of mining (i.e. being issued a hash rate reflective of the CPU processing power of the device and being
awarded coins for participating in the experience). The Mobile mining experience does not directly add blocks to
the blockchain and thus it does not overheat the mobile device or use precious bandwidth. The CPU of the device
is periodically queried to ensure the simulated hashrate is correctly balanced with the other running processes and
it gives the user a very realistic mining experience, including accurately issuing Electroneum coin rewards.
The issued Electroneum coins are true Electroneum coins, the same as issued by the Windows, Mac and Linux
full miner. The Windows, Mac and Linux full miner does download the full blockchain and operate in a fully
decentralized manner.

The mobile mining experience has been designed to yield rapid user growth. These users will be encouraged
and likely to take advantage of the significant mining speed and coin emission improvements of mining with the
Windows, Mac or Linux GUI miner, which will enable Electroneum to grow to huge user numbers via the app,
whilst still retaining a significant mining community running the transactional blockchain by running the intuitive
Windows, Mac or Linux application.
The centralized nature of the mobile app will also allow Electroneum to perform transfers of Electroneum via the
contact list in the device, rather than using lengthy public keys which are currently required by all decentralized
blockchains. Those public keys still exist and can be used but a simpler, more intuitive way of using cryptocurrency
is envisaged.

let's recap: it's not a mining. It's an "experience" of mining. Read it as "simulator". Created only for attraction new users (money).

I know there are 3 upcoming exchange listings and the price will go up, but I don't believe in potential of this coin in long term.
Soon coins without strong fundamental idea behind the token (coin) will be devalued.

I really wanted to buy some but sorry, I will look for something else.

It is only a simulated miner as they have mentioned from day one its certainly not meant to generate you a heap of income its meant to appeal to certain users particularly those unfamiliar to crypto.

There aim is to get it to go viral and mainstream rather than be targeting miners. I agree with a lot of what your saying but the market cap is just huge. Nearly 1 Billion dollars so the hype is real.

So it's a kind of faucet, right?

Pretty much. They allocated a portion of ETN prior to release just for it