HoboMedia Review: Phoneum ICO

HoboMedia Review: Phoneum ICO

Perhaps you are sick of using clunky desktop electronics and feel that you get most of your work done with your phone, if this resonates with you,then you might want to look into Phoneum, the mobile-only cryptocurrency. More and more customers and entrepreneurs are leaving their laptops and tablets at home as they take on the wild world with nothing more than a little smartphone, and that trend has opened a door for the Phoneum project. Phoneum is a 100% mobile phone platform that is with you where ever you go with your all-purpose pocket gadget. But that’s not all, on the platform you can become a miner, securing the network and earning the native cryptocurrency, with nothing more than your phone. In fact, this means anyone, and really, most likely everyone can and will mine and secure the network. This promises an ideal mining environment allowing a large diversity in sources that can keep the network secure and produce income to improve circulation of the online currency.

The Phoneum ICO just began two days ago and still has 60 days left available to investors to jump in on this fast moving coin. Currently, the ICO is being done with ERC20 tokens powered by the Ethereum platform, that said, those tokens will transfer over to a completely independent blockchain in its own right later on. In fact, the Phoneum network is much more than many other projects, which are essentially just a wallet. Whereas Phoneum even now has a downloadable app in beta that allows you to get a feel for the Phoneum blockchain’s potential.

White Paper Token Sale Details:
“Total supply: 20,000,000,000 Tokens (PHM)
Sale Allocations: 2,462,500,000 PHM
PHM Exchange Rate: $0.01 USD”

Blockchain may be relatively new, yet the Phoneum project is not completely without competition in the decentralized economy. Status, another project launched out of the smart contract designing environment on the Ethereum network also has a downloadable app that allows you to experience the future of cryptographic technology today. Status is very similarly in model to the Asian tech giant WeChat, the Chinese software program being used all over Asia and rapidly spreading throughout the West. However, Phoneum has a unique strategy on securing the network that is more fair than most other methods available on other platforms, and this will likely appeal to the average blockchain user. According to the beta version of the app, the average mining rate is 1.32 coins per hour, and mining is just a push of a button. Even though I knew all the coins mined on the beta version would all get burned, I found the experience a little exciting.

However, there is still another challenge for the Phoneum team, and it's a big one. Apple put a ban on mining on all Iphones, so unless the team finds a good workaround, this could effect a large portion of smartphone users. Will Apple fans choose to stay loyal to their device or will mobile-only blockchain get dropped?

The ICO team on the Phoneum project are diverse and open with the public. You can find each member of the team on LinkedIn and images for each team member are displayed on their website. You can easily find the team members on the internet and see their developer history. For example. Ivan Likov is the lead developer on the team and a quick search will provide you with his facebook page, his linkedin accounts and other backstory such as his previous software project the Hashtag Generator. Gaurav Dubey is the lead in project strategy, he is associated with over 10 blockchain projects. Konstantin Iliev is the lead on the team for SEO and cyber security. Veronika Mihaylova specializes in website and app design. Ivo Kacharov is the specialist in Android development. Nikolay Todorov and Kristian Tachev are the experts in blockchain technology on the team.

Opinion:

This is pretty cool, but not particularly unique, a similar and more diverse idea was designed by Status, the dApp built into Ethereum. I consider Status a nicer idea and doesn't require a separate coin, utilizing the ERC20 token that will likely be stabilized by Ether value. Additionally, JSECoin is also a better design, it works with phones and desktops and is just as easy to mine with as Phoneum.