Current Price: £0.016 | $0.023
7d Change: -0.18%
Welcome to this weeks Electroneum Weekly News Update, filling you in on everything that's going on in the world of Electroneum, a little late this time but what's new? As usual, I just want to say thank you to all you wonderful people who read this, and my other posts. If you're new here, you might enjoy some of my other posts. I try to stick to a minimum of one post a day on a topic that interests me.
There hasn't been a lot of updates this week, but we do have a few things to go over. The Cryptocurrency market in general is making moves in the right direction, with almost two weeks of sustained growth. Steem has made some massive gains in this period, but Electroneum is still sitting around the same £0.016 as it was almost two weeks ago, but more on that later on. Let's get into this weeks news.
Mobile Miner
As many of you will have noticed, there's have been a few technical issues with the transactional system and the Mobile Miner payouts had been paused. You were still earning exactly the same amount during this period, but they needed some time to tweak the backend. Any payments still outstanding will be processed in due time and you won't lose anything.
The number of concurrent users over the past week or so has risen over 80,000 individuals, with over 120,000 sign-ups. These are huge numbers, and that's without any marketing or the proposed services being active yet. The Mobile Miner is a great addition to the Electroneum project, giving everyone the ability to earn a small passive income without doing anything. The amount users earn is in the region of 200-300ETN (or around $3 per month), which is great for free!
ASIC Miners
The team had a recent delivery of a batch of ASIC miners to test out their blockchain with and without the anti-ASIC code they are working on to see how they handle it. There's been a lot of talk about ASICs with Cryptonote-based blockchains recently, and I'm planning on doing a more in depth post on this topic in the not-too-distant future so keep an eye out for that (there's nothing wrong with a bit of shameless self-promotion).
They will be working with the community to devise a way to handle ASIC miners going forward, but for most of us that doesn't really directly impact how we interact with Electroneum. The recent additions to the team will hopefully mean they are as prepared as they can be going forward.
Patent Update
The Electroneum team sought some advice from Dentons, the world's largest law firm, regarding their recent patent application. Dentons said:
"Dentons is advising Electroneum Ltd, the early stage technology company aiming to transform the world of cryptocurrency, and which has filed a patent application for a technology that combines blockchain, cryptocurrency and mobile ubiquity."
"With ambitions to become the largest cryptocurrency in the world by user numbers, the business is taking steps to protect its IP and deter followers. In due course the patent application will be examined by the UK patent office and we aim to secure maximum valid protection for our client."
This is great news for the project as a whole, and with Dentons advice they should be able to ensure that their technology is protected and they can focus on developing that next-generation of financial products. You can read the full statement here.
Price Watch
As the graph above illustrates, the price of Electroneum hasn't seen the same kind of growth as other cryptocurrencies have experienced in recent weeks. There's a lot of FUD going around, and sometimes looking at the Facebook comments is just downright disheartening. There are so many people throwing hissy fits and demanding constant attention and updates from Electroneum. They already have a good community response rate, there's room for improvement but it's far better than you get from some crypto companies.
I'm hoping we'll see rises over the next month or two back up to the $0.15 region, and from there who knows. There's an awful lot of uncertainty in the markets right now, but Electroneum are making good progress in certain areas, and hopefully are addressing other key points in the background. We can only wait and see, and hope too. For Electroneum to be sustainable, it needs to see some steady growth, but nothing too dramatic as that will put off the general public from spending the new digital currency.
This project is only just beginning, so don't pay attention to those screaming from the rooftops that the project is dead. There is so much potential here, with the team have a strong foundation and they are making good progress with a clear vision in mind. Hopefully the new blockchain engineer will help guide the project in a new direction away from it's troubled Monero roots, but hey, they're just my thoughts.
If you haven't already signed up for an Electroneum account, what are you playing at? Head on over to electroneum.com or to your App Store of choice and search for the official Electroneum app. I'd really appreciate it if you used my referral code when signing up: EE2B57
Well, that's your fill for the week, what did you think? Let me know your thoughts and feelings in the comment section down below, and as always make sure to follow me for the latest Cryptocurrency, Technology, Internet and Pop Culture updates. Until next time, Peace!
Sources:
Electroneum Official Facebook Page (https://www.facebook.com/electroneum/)
Electroneum on CoinMarketCap (https://coinmarketcap.com/currencies/electroneum/)
Dentons advising Electroneum on patent request for technology for instant crypto transactions and crypto subscriptions (https://www.dentons.com/en/whats-different-about-dentons/connecting-you-to-talented-lawyers-around-the-globe/news/2018/april/dentons-advising-electroneum-on-patent-request)
Thanks for the info Johngreenfield, was wondering why the coins in my mobile wallet were not going to my Electroneum wallet.
No problem bud! Have you started receiving your payouts now?
I try to do one of these posts a week, covering all the important news coming out of Electroneum Towers so if it interests you keep an eye out for the next one.
Thanks for stopping by, take it easy!
As of today received 10.01 ETN. 235 ETN pending on my mobile miner. I notice the number of mobile miners has increase from 71,000 to 110,000 since last we steemed. Could that be the cause "heavy traffic"?
Do you have any other opinions? Had to edit this post ... just received all my ETN thank you Team and you john.
Sorry it's taken me a couple of days to get back to you, I've been away from Steemit. I'm glad you received your payout eventually! Some people were still waiting until recently, but they seem to have pretty much caught up now. Take care bud
I know you're keeping a positive outlook on electroneum team but I've lost faith in them now. There FB post/emails are long a full of fluff. They've hit MAJOR road blocks on just about every single little thing they've announced and the price has dwindled to just about the ICO level! lol I'm hoping for some miraculous turn around as well but those dreams seem to fade with each day that passes anymore.
What's caused you to lose faith in the project? What are these major roadblocks you mention?
The price has taken a battering lately, but I don't understand why people are so quick to declare it a failed project, we're barely out the starting gate. I take issue with a lot of projects that do "airdrops", I've not seen one really take off yet, and it just screams dodgy to me.
The mobile miner, to me at least, seems like a really novel way of introducing people to the currency. Even if the price is at an all time low, so long as it doesn't dip below it's current value, everyone's seeing a nice profit. If the price returns to the $0.10+ region, then the few hundred ETN people have earnt through the mobile miner will be worth so much more than the current ~£3, which could help reignite trust.
The days of crazy highs are coming to an end, we're unlikely to see the kind of price surges we've experienced over the past few years again, in my opinion. But that's all any of this is, is people's speculation. Hurdles, road blocks and problems are to be expected, but I find their goals to be achievable and respectable.
Thanks for your comment bud, Peace!
You just planted 0.44 tree(s)!
Thanks to @johngreenfield
We have planted already 7140.00 trees
out of 1,000,000
Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 18717.09
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase
https://3. Type
reGet Featured Instantly & Featured Posts are voted every 2.4hrs
Join the Curation Team Here | Vote Resteemable for Witness
You got a 3.84% upvote from @upmewhale courtesy of @johngreenfield!
Earn 100% earning payout by delegating SP to @upmewhale. Visit http://www.upmewhale.com for details!
We apologize for the delay, we’ve been managing and speaking about Steem at the Steem Creators Conference in Las Vegas, NV all weekend. Expect to be within the the 24-48 hour upvote window in the next 48 hours.
As a friendly reminder, the upvote fee is $0.08 SBD ($0.081 for incognito). Current 300%+ upvote is now $0.24+ SBD.
That being said…
Investors who delegate SP to @thundercurator are entitled to 75% of @thundercurator income after curation. Get on-board early and grow with us!