Electroneum has caught the attention of the millions of existing cryptocurrency owners and more importantly people who've never owner any Bitcoins let alone one of the hundreds of others. Electroneum aim is to be involved in the mobile gaming market and expanding its presence through its mobile miner app and aims to bring not only more awareness to the digital currency market as a whole, but mass adoption of its coin to people unfamiliar with any type of digital or 'crypto' currency.
Electroneum has surprised many by not only raising $40 million dollars from over 100 thousand contributors but also more than 300 thousand registered users. Raising so much capital and creating a large following has attracted the attention of many of the millions of 'digital' milennials causing more people to discovering what Bitcoins and other digital curriencies there are and see this 'market under everyone's noses' and are jumping on board. The big selling pont to Electroneum is that it promises to bring an easily understandable cryptocurrency wallet and mobile mining to the masses.
They have incorporated Monero into their system as well as attracting the attention of Amazon and the help of their web developers. However, since their chain went live, users with Electroneum accounts have not been able to access their coins nor mine from their app as promised on November 1st due to security issues. Users are now into their 5th week unable to access their coins bought through through Electroneums' initial coin offering.
Since their rough start, Electroneum has announced the hiring of the internet firm HackerOne to shore up vulnerabilities and have constantly reassured their backers that their wallets are safe and when their issues are resolved, all will have access to their coins. This is a small consolation to some who want to be able to access their coins to quickly sell especially since the price per coin is nearly 10 times what they've been purchases for. It's important to note that Electroneum has also hired the PR firm Jargon to help repair the damage from their failed wallet and mobile miner launch which has begun to help ward off the restless crypto investors and repair their brand.
Electroneum has tried to keep the natives from getting restlesss through their seemingly once a week updates with the most recent touting the hiring of Jargon to help fight the bad press from their less than stellar launch.
November 29 at 4:41am · Hi everyone,Exciting news! We have appointed Jargon PR to work with us on getting the word out on Electroneum. Lots of good things to come, lots of meetings, looks like the coming weeks will be exciting all-round. Feel free to check out Jargons page here; http://jargonpr.com/wp/Thank you all for your patience, HackerOne have been cracking on with their testing- so far, good news, no major security issues discovered yet; just a few minor bugs that we’ve been fixing as we go; we’ll update you if anything changes, or if we receive any new information.
Electroneum though has since gone live and has been listed on Cryptopia and people who mine the coins have been selling on the market up from an initial high of 3 cents to a current high of just over 10 cents as of today. Though the price has skyrocketed frustrated users to see other people able to sell without being able to do anything with theirs though Electroneum still is sticking to their guns and claims to have a relaunch coming in mid december which has 100's of thousands in quiet anticipation.
If the developers along with AWS, HackerOne and Jargon help can straighten out all the problems it has great potential not only for price, but for the digital currency world. The promise of a simple to use and understand digital currency will help to increase the use and users in the the cryptocurrency world. Once wallets go live however, their will be the inevitable dip in price as people rush to sell their long awaited coins but there are others, myself included that will hold on for dear life and hope Electroneum can get their act together and watch Electroneum beat all price expectations.
November 11, 2020
David has a passion for cryptography, collectibles and helping people to form their own opinions.