Electroneum



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Name: Electroneum


Ticker: (ETN)


What is ETN Coin?[ ]

Electroneum (ETN) was formed Conceptually the idea of mining cryptocurrencies with mobile devices aka cell phones . The Electroneum idea of 'mine on mobile' does not pass several 'smell' tests. Conceptually the idea of mining cryptocurrencies with mobile devices aka cell phones make little sense. The limitations of the operating system, the costs, speed, and reliability of bandwidth, the issues of battery power versus computational capacity, and random access memory (RAM) limitations all speak to this being a nonsense idea. Or at least one that is going to be posing challenges to all parts of the mining process. Having worked in the telephony industry on the back end (servers, billing & rating, SS7 side of things), the idea makes one shudder at the increase in packets both for cell service as well as into their blockchain.


Mining:[ ]

The language of the Electroneum site and its presentations tend towards the idea of a 'server backed' application doing the mining, rather than mobiles. Yes, there are miners in the Electroneum blockchain, but as clones of Monero, and its mining approach, these miners are not mobile friendly. Note that the code base for Electroneum is a forked clone of Monero.

IF, and that is a big IF, the idea is to mine cryptos from your mobile device, the costs of doing so, to the device, to the bandwidth used, to the back end (mobile device service supplier = Verizon or any other carrier), are all hidden to the extent that the costs to the miner are not yet calculated. Further there are the concurrency issues, as well as the latency and other conceptually questionable design issues.


Troubled waters[ ]

Electroneum as a company is in a state of distress as they have had 'credible security threats' to some part of their system bringing a response from the firm to withhold the scheduled release of their app. This delay is causing them problems from a confidence and public relations perspective, as well as adding additional pressures to their development effort for the app (their wallet).

They are wrestling with a core issue that many companies in this space will face. Conceptually there are many solutions, however they all represent some shade of 'ugly'. It may be that they will exhibit creative genius under fire and present CryptoSpace a new approach that side-steps the many different sides of ugly that they currently are facing.


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