This project was born in 2015 by Richard Ells and launched it in 2017, founding Electroneum Ltd, and later became the ICO where the company raised about 40 million dollars in Bitcoin and Ethereum.
Electroneum is a token that is used both to exchange value between two or more subjects and to be extracted using your smartphone.
Use the consensus algorithm POW (proof of work), as in Bitcoin, and can be extracted using an asics.
The extraction process (Mining) takes place through a cloud mining, that is, the app is downloaded and inside it connects to the cloud where tokens are extracted.
This process is very functional because you don’t need to have the smartphone turned on because mining works on the cloud.
But the renewal in the mining process must be updated at least once a week.
Using the app you can top up your phone plan, in fact there are many companies present.
In addition, the company also trades in smartphones that not only serve as mobile phones but also act as portable mining devices.
These devices are marketed in developing countries as they are low cost and allow you to earn money.
You can find them on amazon by going here.