In this post, I will do the electroneum review which is looking like the most promising project by far. But do it is really a promising project or it is a mirage launched just to accumulate bitcoin. Lets find out in this review.
First of all, I will say that many people newcomers in the crypto field determine the potential of coin by its price analysis which is wrong as per me. Many people judge electroneum just by saying that it has fallen from 0.20 USD to 0.01 USD so thats why it is shitcoin. Dont judge anything just by its one aspect there are lot better aspects as well. Also, dont believe in the method of taking huge profits overnight.
Technical aspect of electroneum
First of all, electroneum is the first cryptocurrency developed in Britain. Its main motive is to make a platform for instant crypto payments and make crypto more people friendly. So they have tested their beta application for instant crypto payments and also they have filed a patent application for this unique payment technology.
They have signed an agreement with xius making a user reach of 65 million which sounds very good. Electroneum is the first cryptocurrency to be invited in GSMA in MWC 2018 in Barcelona. They have signed agreements in place to develop Electroneum payment integration for over 1.2 million agents, dealers and distributors in over 9 countries to make a reach of 130 million people. They are trying to increase the number of methods to spend electroneum also across the world.
Electroneum also introduced a subscription system in the electroneum patent. This shows that they are very aggressive in their backend developing thats why financers like yahoo believed in them. Subscription system is like you can set a subscription for a particular vendor for monthly basis. People can easily set amount of US dollars or ETN for that vendor.
The option for other cyptocurrencies will be introduced next year. First, they want this system to be operational for electroneum then they will bring other cryptos as well in order to increase the payment modes with other coins.
Criticism of electroneum due to misconceptions
There are some misconceptions as well due to which gives some space to bad criticism. Some people criticize electroneum by saying that mobile miner of electroneum is fake. Now let us understand this electroneum mobile miner aspect in a broader way. First of all the main motive of electroneum is to make a platform for vendors which enables instant crypto payments. Now electroneum mobile miner is launched with a motive for people to understand cryptocurrency is a simpler way. It is launched just with a motive to introduce crypto to normal non-technical person.
I completely agree that electroneum mobile miner is a cloud miner, not an actual mobile miner. But we have to understand that the blockchain technology on which cryptocurrency is based is just used by 1% people in the world. So in order to increase mass adoption and making people understand what cryptocurrency is mobile miner is launched. It does not matter whether it is a mobile miner or a cloud miner. Once again I am saying electroneum main motive is to create an instant crypto payment system for vendors in order to increase mass adoption.