[Electroneum] Weekly News Roundup (04/04/18)
Current Price: £0.015 | $0.020
Last week we discussed a leaked document that Electroneum had prepared for prospective investors and partners, and unfortunately it's a bit of an anti-climax this week as there's not a lot to report on. There is still no word from Electroneum regarding this document, or any major news whatsoever.
Hopefully you've been using the Mobile Miner to claim your free ETN. I have noticed in the past few days that the amount earnt has dropped slightly, although the Electroneum team haven't announced a change. Have you noticed a change on the amount your earning?
The whole cryptocurrency market is hurting still, although it was nice to see Steem and SBD have a slight return yesterday. People are feeling unsure, and with regulation constantly being threatened, are these the final days of the wild west of Bitcoin? Everything just feels a bit stagnant lately, but hopefully there'll be some rejuvenation around the corner!
Cryptopia Issues Sorted
According to a Facebook post on the official Electroneum Page, the issues that Cryptopia were having with their ETN wallets are almost sorted. In fact, I've read reports of people being able to trade freely again, although it might be worth waiting a few more days before trading.
The team stated that the issue was "very well understood" by both the Cryptopia and Electroneum development teams, and a fix was being worked on. This problem with the wallets has been going on for a long time now, so it's great to finally see some progress being made. Hopefully, this and the other big announcements we're expecting from Electroneum in the coming weeks will help boost the price of the currency and help it achieve it's goal of mass market adoption.
New Blockchain Engineer Joins The Team
Earlier today, the team made an official announcement regarding the appointment of a new software engineer, Andre Patta, who has been specifically picked because of his vast amount of experience working with companies such as Ericsson, and has spent much of his time in recent years working on the interaction of decentralised technology with the financial sector.
He has worked extensively with the blockchain technologies of both Ethereum and Monero (the later of which Electroneum is based upon), and the skills he has developed will be invaluable to the team as they worked hard to ensure that their blockchain is completely ready for mass market adoption.
Andre has already made many invaluable contributions to the project as a community member, so it's so nice to see him being embraced by the team and hopefully he'll be able to bridge the gap between the community and the development team. They finished the post by stating:
"This is a community project, and working with Andre we are looking forward to involving our community more closely in the technological development of Electroneum. The dialogue we establish will predominantly take place through the Reddit community as well as on GitHub, and we are also looking at creating a new section of our website specifically for technological discussion."
So for those looking for a more technological perspective on the project, make sure to check out their Reddit page and GitHub depository.
What do you think about these announcements? Have you taken advantage of the low price and stockpiled some ETN? 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, Internet and Pop Culture updates. Until next time, Peace!
Sources:
Electroneum Official Facebook Page (https://www.facebook.com/electroneum/)
The main problem for me with Cryptopia was the minimum trade limit... For a cheap coin like Electroneum it's hard to initially reach the 50000 satoshi minimum trading, because the value of Electroneum never went high enough to be worth selling more than few coins. I prefer Qryptos where I can set my orders with any amount.
Seems like people have lost faith in Electroneum a long time ago as the price is essentially on free fall. Most exchanges that have Electroneum listed don't have any other interesting coins, so people are essentially dumping Electroneum for either Bitcoin or Ethereum as Litecoin price is still too high and low volume to be able to compete with low fees and higher trading volume of Ethereum.
Absolutely, it's whats stopped me from trading more on Cryptopia, their limit is just too high for low-trading coins like ETN. I've got set up on Qryptos, but I've had a bit of a hiatus from trading this year because of the uncertainty in the markets.
I fear you're right about people losing faith, but all is not lost yet. They can certainly turn things around, and it's frustrating to hear so little from them since the World Conference in Barcelona. Hopefully, they have something good up their sleeves.
I've seen a lot of Monero-based coins go bad because complexity of the technology makes blocks big and rate of blocks per hour is so high that slower hard disks just can't keep up with the I/O traffic. A lot of users are already running their wallets through remote node and that is bright red warning sign for me. Electroneum staff also seriously **cked up handling of the official mining pools and that cost a lot of people quite number of coins.
Yeah I've noticed that trend too, hopefully bringing an experienced engineer like Andre on board will help them sort these issues out. I feel like they didn't fully think through these decisions when they were first launching the cryptocurrency.
I appreciated what they were going for with the official mining pools, but like you've pointed out, the technology it's built on wasn't really ideal for what they had in mind.
I've read some of recently launched coins are restarting from block 0 just so they can learn from their mistakes... I hope eventually Electroneum staff also realize they can't stack up fixes on top of the old blockchain indefinitely.
Hi there! Yes I have noticed a significant drop in the amount. Before it took about 2 days to mine 10 ETN. Now this is 4 days. But with this the battery usage of this app seems to have dropped a bit as well. Before 0.56 an hour, now 0.41. The H/s has been stable, with an average now of 34.
At least it's not just me then! Overnight I've noticed that it seems to have picked up again, have you noticed the amount you earn returning to normal? There hasn't been any announcement from Electroneum that I've seen, so I'm hoping it was just a glitch.
No, with me it's still a smaller amount. But I've read an article this weekend, and thought that might have something to do with it. I cannot post a link here, but it was about mining empty blocks on the electroneum network (the merkle).
But I don't have enough technical knowledge to understand it all.
To be perfectly honest, that technical side of things is still beyond me too. I don't think that would impact the mobile miner, as it's just a simulated experience, but I couldn't say for sure. I'll go look into that though, sounds interesting.
Everything back to normal here as well. 5 ETN a day!
great post adding you to my list
Thank you, you're very kind. I do these Electroneum news posts roughly every week, although there's no set schedule.
did you hear from Genesis Mining Team
To Our Monero Miners,
We wanted to send a followup to our previous email about the pending Monero fork on April 6th.
As you may know, the Monero developers are proceeding with a fork that will fundamentally change the way Monero is mined. More specifically, the algorithm used to mine Monero is changing to CryptonightV1. All miners, including Genesis Mining users, that operate on the original Cryptonight algorithm would need to shift to mining another coin. For those of you that are a fan of the original cryptonight algorithm, we will be adding Electroneum as a native cryptonight coin for mining! We strive to help our customers mine the coins they are most interested in pursuing, which is why we wanted to offer Electroneum as an alternative in light of the upcoming shift from Monero.
woohoo Electroneum is going to rock
I'd read about the upcoming Monero fork on MinerGate, but that's really interesting that Genesis are gonna allow their users to switch to Electroneum mining. I might have to give Genesis another look now.
Thanks for posting that here! I wouldn't have seen that otherwise
yes its official. I logged into my Genesis account and you have the option on XMR mining to get paid in ETN. l think its won of the biggest victory for ETN to get into Genesis one of the biggest mining company. High five to ETN
Even more good news for Electroneum! Let's hope they can maintain this momentum.
How much ETN are you able to mobile mine?
I was getting 10ETN every 6 days or so (with ~10h/s), but at the beginning of the week the rate dropped to less than 1 per day. It seems to have picked up again over night, might just have been a blip.
Oh wow! That is not nothing. More than I thought.
I am getting about 5 ETN every 2-4 days mining on my laptop.
I'm happy with it! I've read some other people's perspectives on it elsewhere, and they seem less than impressed. Each to their own!
I gave up on mining on my laptop a few months ago, I've become a bit paranoid about wearing it out too quick! There seems to be some technical issues with the blockchain, but I've not really looked into it yet. Maybe for next weeks post!
I use HUAWEI Y6 II Compact smartphone and until today h/s was 9 and today is 30 :D
I've just noticed mine has jumped to 30h/s, when it's normally at 9h/s. Hmmm... I'm thinking they must be tinkering on their end. My phone definitely isn't capable of 30 even if it was really mining.
I read everybady say that have 30.
Will see what will happen in next days.
Personally, I prefer Qryptos where the amount is not a problem of how much is quoted, as with Electroneum which by now low marks in general.
I consider then that we all bet, at least those of us who can not think of litecoin for its costs to bitcoin or ethereum leaving on the way to electroneum, I intuit that soon completely ... do you agree?
I really need to take a proper look at Qryptos, I've signed up but I haven't really done any trading this year. Now that the Cryptopia wallets are working again, I might just transfer it over to Qryptos.
I honestly don't know right now, things could go either way at the moment. Time will tell!
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