Electroneum has announced the launch of its Electroneum M1 smartphone that pays you back the more you use it. The phone comes with built-in Cloud Mining technology which enables users to earn cryptocurrency as they keep using their smartphone. The Electroneum M1 will be available for an affordable price of $80 (approx. Rs 5,700) across developing countries.
The Electroneum M1 uses the company’s blockchain technology to mine Electroneum units which can be mined using just the smartphone. The M1 thus integrates Electroneum’s app-based Cloud Mining system to make ETN accessible to anyone and thus allows anyone to earn some ETN cryptocurrency directly from their devices. Only simple interactions are required to commence mining on the free app, and once completed, mining can continue offline.
The cryptocurrency can be used to pay for services such as mobile top-ups (airtime and data), online services or shopping. For being an affordable device, the M1 isn’t featureless either. The smartphone comes with Dual SIMs, 4G connectivity, rear and front-facing cameras and up to 8GB of internal storage.
The Electroneum M1 is certified with Google GMS and has received GSMA approval. With built-in Cloud Mining, users of the M1 stand to receive benefits of $3 USD worth of ETN (the mobile cryptocurrency) every single month.
Speaking about their latest launch, Electroneum CEO and founder, 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 calibre accessible for anyone in the world, and we are extremely proud of the result”.
The Electroneum M1 will be available for an affordable price of $80 (approx. Rs 5,700) across developing countries.