Electroneum, a UK-headquartered blockchain company, has launched an $80 Android-based smartphone capable of cryptocurrency mining.
Dubbed as M1, the smartphone is Google Mobile Services (GMS)-certified and comes with a cloud mining technology integration enabling users to earn crypto through an app, according to the official announcement published on February 25.
Started in 2015, Electroneum offers an app-based cryptocurrency mining facility on smartphones. Its app can be downloaded just like any other app from PlayStore or AppStore, and the users can start mining the platform’s native digital coin on their smartphone.
At the launch of the smartphone, users can mine only Electroneum’s native token ETN, and once the setup is complete, the mining can also be done offline.
However, it is to be noted that the phone itself is not mining any cryptocurrency as the power-hungry process would drain the battery in minutes. The firm confirmed that the app only provides a “mining simulation” on the phone and the earned tokens are airdropped accordingly.
Mentioning the launch of M1, the company’s founder and CEO Richard Ells said: “With our experience in tech, we were able to gather a world-class team consisting of telecommunications, manufacturing, emerging area mobile-operators, product design, and marketing specialists, all helping to make this utopian vision of ours a reality.”
“Without the broad range of talent and expertise, we could never have imagined the possibility of making a product of this caliber accessible for anyone in the world, and we are extremely proud of the result.”
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The inexpensive smartphone did not cut short much in the specs sheet as its M1 is bundled with a 4G modem, 8 GB of internal and 32 GB of expandable storage, and two SIM slots. The processor, however, reflects the price point of the phone as it has an unspecified 1.3 GHz QuadCore chip. The phone also hosts a sub-par camera system with a 5 MP rear and 2 MP front modules.
Cmon #Electroneum! Give us more news!!! Make the next three days even bigger than your first!!!
— ETNezer Scrooge (@etnezerscrooge) February 26, 2019
Blockchain in Smartphones
Cell phone manufacturers have become bullish on blockchain, especially on crypto storage. Samsung on its recently launched flagship phone S10 series has integrated crypto storage system.
Despite the presence of major market players, Electroneum’s offer is eye-catching because of the price-tag as its competitions cost around $1000 mark.