I was introduced to both these projects a couple months ago as I researched various crypto currencies that provided user-friendly methods for mining their coins. Over the past few weeks, I've continued to learn about these two projects, their goals, technology and the teams behind them. I've also been testing out both platforms and will continue to do so for the next several weeks in an effort to compare the various results and potential.
I'll do my best to test and evaluate the related platforms (mobile mining, desktop mining, browser mining etc) and review the results in terms of ease of use, production details, etc. I'll also look to engage with both communities via social media, forums, and support channels (if needed). As these are both web-based community projects, I have high hopes and expectations for their levels of engagement. I'll be sure to post my findings and results as more information becomes available. If you've had experience using either of these two solutions, I'd love to hear about it.
If you're not familiar with these two coins, here's a quick overview of each of them...
Electroneum
I was initially intrigued by the Electroneum project as they market themselves as 'The Mobile Cryptocurrency'. They offer an app, currently only available on Android smartphones, which allows users to 'mine' their token. An interesting approach, which seems to be quite user friendly and easy to use, which is great to see, especially in a crypto industry which is often confusing and overwhelming to many newcomers. That being said, how much process power could possibly come from a mobile mining app?
After doing a little more digging, I determined that the mobile app is more of a marketing play, than it is an actual mining solution. As it turns out, the app is not actually mining anything, but instead giving the illusion of mining, providing fictitious statistics (such as hash-rate), and then issuing coins in an air-drop. All that being said, this app may still serve as a good way to introduce people to cryptocurrency and the mining process.
The backend technology for Electroneum was initially created by a Monero fork, a sound technology focused on security and privacy. That being said, the Electroneum team striped away several of these features in order to convert it to a more simplistic solution focused on instant, micro-payments.
Here's a few numbers as they relate to Electroneum
Max coin supply: 21 Billion
Current price: $0.012 USD
JSE Coin
Promoting themselves as web based solution, through browser mining, I was eager to learn more about the actual application, the mining process, ease of use, etc. JSE Coin offers a couple interesting opportunities... Browser based mining is available to anyone who sets up an account, and runs the JSE Coin platform through their browser. At first glance, it's quite user friendly and uses a very minimal amount of computer resources. Thumbs up. The second opportunity is for webmasters, where the JSE Coin platform can be easily integrated into websites, allowing visitors the option to 'opt-in' while they browse, using a small portion of their computing power to mine JSE Coin. This is an intriguing opportunity which could generate an additional source of revenue for website owners, and potentially reduce the amount of on-site advertising that is needed. Again, I'm intrigued to continue testing both these opportunities to gain better insight into their overall value and future potential.
I've reviewed the JSEcoin Whitepaper, and came across one point of confusion... At first, I assumed the JSEcoin solution would be a way for website to generate income without using on-screen 'display-ads'. However, in the JSEcoin Whitepaper they state the following:
To create demand on exchanges we plan to offer an advertising service where JSEcoin is the
currency used to trade digital ad space. This was our original idea for the platform before we
realized how much mainstream demand there was for a cryptocurrency platform.
We currently have a large publisher base that has already opted-in to display advertising if it
were to become available. The code snippet is in place on sites so nothing further would be
required from the webmasters.
I may be misinterpreting the information so I'll be reaching out to the JSEcoin team for clarification. A display-ad based model, in my opinion seems to contradict the primary basis of the JSEcoin solution, which is to replace/reduce the need for on screen ads. I'll be sure to update this post once I've received clarification.
Some of the states for JSEcoin are as follows:
Max coin supply: 10 Billion
Current price: $0.006
Self-miner daily distribution: 144,000/day
Publisher daily distribution: 288,000/day
