New currency "Electroneum" launches with app allowing everyone access to "mobile mining"...

But will it work?

Electroneum aims to be the most "user friendly cryptocurrency" and comes with both a wallet, and a miner built into a mobile app.

Which leads to another huge plus, instant peer to peer transactions with other users of the currency (as long as they have the app too).

So far, in while other ICO's have struggled amid a few recent flops, Electroneum seems to have managed to gain momentum.  At the time of writing this article has raised 25821 ether and 2528 bitcoin.

Now back to the "will it work?" question I started with.  Well, looking into the development team, I do feel confident in saying - this one isn't a scam. 

However "not a scam" doesn't equal "this will be a success". 

The success of Electroneum will depend on people using the app, meaning it's going to take active users, not just people throwing money at it to make it work.  Does anyone really want their phone mining all day? Hard to say when there's nothing similar to do a case study on.

That is the part you'll be rolling the dice on.

The ICO is now live here

Author: Justin Derbek
New York News Desk