Phoneum is set to launch their mobile-only cryptocurrency and bring mining to the masses, utilizing their proprietary algorithm to monitor and regulate mobile device sensors while ensuring low power consumption, easy-to-use mining, and transparent e-transactions.
“There are roughly two billion smartphones out there,” says Ivan Likov, Phoneum CEO and Founder, “and they can be used by any mobile user, regardless of technical aptitude, to participate in the new cryptocurrency economy.”
The Phoneum algorithm ensures easy navigation of the mining process as well as incentivizing usage by earning Phoneum tokens (PHM) through both Proof of Work verification and Proof of Time on the app, including games-play.
The beta-testing has involved over 40,000 users, and there have been zero cases of lagging, diminished mobile operability or overheating. “And our testing has involved both Android and iOS mobile devices,” says Mr. Likov.
“Our unique mobile-specific ecosystem allows your smartphone to participate in blockchain mining and verification, without excessive power consumption, which means you can earn, send and receive our cryptocurrency simply by using your mobile device.”
As egalitarian as the blockchain concept is, it was always in danger of favoring a select few. Those with the most computing power can take advantage of the complex nature of the mining tasks. However, Phoneum brings equality to all by making mining available to everyone.
The free Phoneum app comes preloaded with the custom built-in miner, activated by a single click, games and a virtual wallet to send and receive Phoneum for secure and transparent transactions.
The launch phases and rollout timetable are detailed at phoneum.io with the Project Release scheduled for Fall 2018. Free app downloads will drive mass adoption as well as having the app preloaded in manufacturer’s devices agreements.
For more information and to download the Whitepaper or join in the mining to the masses, visit phoneum.io.