Electroneum (ETN) popularly known as the mobile currency has been going on with its aim to provide decentralized solutions on mobile devices. With its concept of mobile mining, the coin has been able to make inroads within the crypto space.
Its currency ETN is one of the popular altcoins in the market and is the 63rd largest coin based on market cap. Electroneum has been resolute in its commitments to its goals of spreading mobile decentralized solutions across the world.
On the 25th of February, Electroneum made an announcement that could change its position within the crypto market. The Blockchain company revealed the launch of a groundbreaking smartphone named M1.
The Smartphone is expected to feature an inbuilt ETN cloud mining functionality which is expected to facilitate mobile mining. users of the phone can earn up to $3 monthly which can be an incentive to gain more buyers.
Electroneum has been making improvements on its mobile mining in recent months with respective apps available for Android and iOS users. however, there have been reports from some users on the app crashing when mining.
The launch of this mobile device would all but eliminate this problem as ETN designed the device to accommodate the requirements of its mobile mining. This development is revolutionary as it is the first of its kind by the blockchain company.
Furthermore, Electroneum revealed that the budget Android phone M1 would be distributed first in South Africa in line with the companies aims of targeting developing countries.
This strategy is a winning strategy in the long-run because $80 is a nice price tag for a phone that aims to break into developing countries. Africa is a huge market yet untapped by cryptocurrency. Countries like South Africa, Nigeria and Kenya have a large population of youths that are educated with the use of smartphones.
Electroneum can take the lead with this budget phone alongside the rewards that come with the phone. Furthermore, the blockchain company would also be an attractive mode of payment for these countries restricted by traditional centralized systems.
It remains to be seen how the phone would fare in the market, but this is a good step in the right direction for electroneum.
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