Electroneum Mining on Your Smartphone.
Here is the thing, electroneum was launched November 1, but that’s not the interesting thing about this new cryptocurrency. The developers created it with the primary aim of making cryptocurrency accessible to the average joe. In their words,” bringing mining to 99% of the world”. Still, that’s not the interesting thing about electroneum. What makes electroneum interesting is the way they intend to achieve this goal.
The British developers of this cryptocurrency are bringing it to the general public by making it possible for you to mine directly from your phone. Yes, all you need is a smartphone. That’s a possible 2.32 billion investors!
Here is everything you need to know about Electroneum mining.
How to Mine Electroneum On Your Phone
As expected, there is an android version of the app in google play store called the Mobile Mining Experience. However, the iOS version of the app was not available when this article was written. The first step you have to take to mine coins is to download the app and create an account. After that, the app is expected to start mining in the background.
The app developers understand that you can get a little jittery at first. So, they created the option of playing the mining game. Apart from teaching you more about mining, the game was designed to encourage you to set up your own full miners (computer version), consequently allowing you mine more coins.
Here are some questions you might want to ask before using the app.
Power and Data Consumption of The Electroneum Mining App?
The app is not expected to consume much power since it doesn’t really perform any real mining. What you are doing is only a simulation. As such, your phone shouldn’t heat up, and it should not consume a lot of power.
The data consumed by the app is necessary for communication with the server, which makes it possible for you to carry out operations such as sending coins, checking your account balance, etc. According to Richard Ells, the CEO of Electroneum, the data consumption will be kept to a minimum.
How Much Can You Mine?
Here is the thing; the app developers created an algorithm that assigns a mining rate based on the available CPU space on your phone. What this means is that the Electroneum app will mine based on the CPU capacity of your phone.
The implication is that every time you play a CPU intensive game on your android phone, the app will have access to less CPU power, subsequently assigning less mining rate. Therefore, it is advisable to kill all unnecessary apps that may be running in the background.
According to Richard Ells, a high-end smartphone like Samsung Galaxy S8 is expected to mine about 70 coins per day initially.
There are other factors that are responsible for how much Electroneum you can mine. These factors include; a number of miners worldwide and global Electroneum transactions. The increase in the number of miners will reduce the number of coins mined per day.
Don’t know what Electroneum is? Click HERE