A disclaimer: This article is not intended as investment advice. Cryptocurrencies are risky and never invest more than you can afford to lose. This is not a paid review rather my humble opinion about Phoneum.
With the Bitcoin’s price exploded in late 2017 and topped nearly $20k and while the value dipped since then, the interest in mining has not dwindled.
However, the sad truth is only those with specialized, high-powered machinery are able to profitably extract bitcoin nowadays.
Mining just a huge investment in itself. A lot of people like me who are finding ways to establish ourself in the crypto world after doing some faucet, buying some crypto are going towards ‘easy mining’.
While on my learning journey about mining, I come across new cryptocurrency named phoneum which claimed that the only crypto that can be mined by smartphones only and put the CPU/GPU and ASICS out of the equation.
Yes, exactly. Even though, that was a report stated 81℅ of ICOS are scams, but Phoneum have a working product with alpha and beta test was being conducted. Well, I decided to give a try to appreciate the team trying to conduct a test network rather than collecting its funds on investor confidence alone.
After a few months join the community and tried the app, I decided to make my own review about the ICO. This is going to be a very long article, so hope you’re enjoying.
7 points what I will talk about Phoneum
(1) Overview
(2) Whitepaper
(3) Team Composition
(4) Project Stage
(5) Community and Media
(6) Token Distribution
(7) Cap
(Overview)
I believe that people who are looking for Phoneum review have some a bit of an idea what Phoneum and doing some research about it. Let’s keep it short.
Phoneum is mobile only crypto that can be mined by Smartphones only, no CPU, GPU and Asics.
Yes, the only reason why I write this for a second time to avoid people people bashing my comment, “Hey, Where on earth are you living? This project is a ‘copycat’! ” .Well, for the third time I am going to say that what makes Phoneum different is they are trying to make a new environment for mining, only mobile are allowed not ‘stimulated mining’.
Then, another important thing I need to mention is that Phoneum combines Proof of Work (POW) And Proof of Time (PoT). Normally, Proof of Work And Proof Of Stake (POs) Are two common protocols used for mining, so I decided to find out more about Proof of Time.
From my research, this concept was invented during early 2016 by Intel (but the name was Proof Of Elapsed Time lol) . It was designed to prevent high energy consumption and keep the process more efficient by the fair lottery system. Moreover, it has allowed our device ‘s processors to sleep when reach danger zone and we still be rewarded for the time we spend.
I believe Phoneum tried to incorporate this technology as an innovation for crypto mining industry and this is that end of my ‘short’ overview which cover some important point.
(Whitepaper)
There are not so much I want to elaborate because I planned to explain the detail separately. Anyways, there are a lot of important things being covered in the white paper such as market opportunity, team, token distribution, use of funds, overview technology, etc… …
Personally, I think the white paper is readable, so there are no reason for people to ignore it, especially ‘speculative investors’ who plan for to pump and dump lol.
By the way, not all information available in the white paper such as a roadmap, but you can easily get it from their website.
(Team Composition)
The only social media accounts for me to look them up is Linkedin, except Ivan Likov, Founder Of Phoneum which I had stalked his Facebook until 2016 post and I can’t deny that he is a real person in real life lol.
First of all, I had to verify either their profile real or fake by doing a reverse image search using something like TinEye to make sure it is not a stock image.
0 results for all members picture found on another website, except 2 of the advisor which are Emma Todd and Warren Whitlock because they appear as a speaker in some conference. I have concluded that the team members are an original image, so if anyone want to check team member of another ICO can use this method.
By the way, I accidentally connect Ivan, Founder Of Phoneum and he accepted XD
Another fact that Ivan Likov, the founder is the lead developer with the background of science computer will make this a great crypto project, like Vitalik Buterin (Founder/creator of Ethereum) And Charlie Lee (Founder of Litecoin), that’s my personal beliefs.
About another team members, I decided just to make an overview because I not an expert who can judge this particular person is good or not. The team consist of 12 members with different respective field. They have a track record of work experience in their Profile.
Then I look for the Advisor, one that makes me interest is Warren Whitlock because I can see that he try to add value of Phoneum by having a discussion with Ivan Likov.
I really recommend people who are interested with Phoneum to look up in this video because its content some good question. (Seriously, please watch)
I am going to end it for now. Will finish this article later on lol ha-ha.Anyways,feel free to visit the website while waiting