On Monday, British cryptocurrency company Electroneum reported a successful first month of its mobile mining BETA trial, giving millions of smartphone users global access to mine their cryptocurrency. The company revealed that its worldwide survey of over 44,000 participants saw 93% of users being young males, 64% labeled “crypto newbies” and 56% anticipating they will use the mobile mining experience all the time.
“The mobile mining experience is a simulation of real computer mining, which allows users to obtain Electroneum coins whilst playing ‘games’ to increase the amount of coins they receive. The survey also found that a quarter (24.7%) of its users were located in North America, home to one of the largest bitcoin mining data centres, with Europe (21.9%) following closely behind.”
Richard Ells, CEO and Founder of Electroneum, stated:
“The past couple of years has seen a significant shift within the cryptocurrency market, with Bitcoin increasing its value at an exponential rate in 2017 alone. However, Bitcoin can be difficult to get hold of, trade in and spend so with the creation of our mobile mining BETA trial we know it will provide our users with the freedom, security and accessibility which you get from mining on a computer.”
Electroneum added mobile mining will be live this month. The launch comes just a few months after the company raised $40 million in an initial coin offering (ICO), but endured a cyber attack. The company announced it enlisted the assistance of Hackerone following a “real, credible, security threat” to its platform.