Electroneum

Electroneum is the first British cryptocurrency which is launched via an Initial Coin Offering. Electroneum is developed to be used on mobile platforms. You can currently join the token sale, it has already 274621 registered users. I bought some electroneum too. The token sale is available until 31th October.

Electroneum is built on its own unique blockchain. There are 21 billion coins available. The wallet is currently available for android devices only. The wallet app will soon be available in the appstore too. Apple will not support the wallet app until Electroneum is available on an exchange. The wallet app will allow users to manage their online funds by sending and receiving payments with a QR code.

mining this cryptocurrency

Electroneum is mineable just like some other cryptocurrencies but there is a difference. Normally you need an ASIC-miner, GPU mining rig or other expensive equipment to mine a cryptocurrency. You will be able to mine Electroneum with your smartphone. My first thought was that it would drain the battery so quickly, you would have to charge your phone constantly. Apparently you don't have to download the blockchain in order to mine. The software just calculates a hash rate that reflects the CPU processing power of the smartphone. The mobile mining does not directly adds blocks to the blockchain but you still get a coin reward for the calculated hash rate. In order to add blocks to the blockchain, there will also be a miner available for Windows, Mac and Linux.