While Samsung, HTC, and Sirin Labs are focused on implementing cryptocurrency wallets on smartphones, Electroneum has something different to offer. The startup has launched a cheap cryptocurrency mining smartphone. The M1 as it is called, is valued at $80, reports Coindesk on February 26.
Electroneum Launches Cryptocurrency Mining Smartphone
Soon, people will not only be on the lookout for smartphones based on their camera, RAM, and battery features, they will be on the watch for the cryptocurrency mining capabilities of their potential smartphone. This is because Electroneum has launched the M1, an Android smartphone that mines cryptocurrency.
Reportedly, the M1 features a cloud mining technology integration and it will first be able to mine Electroneum (ETN). The Google Mobile Services (GMS)-certified smartphone can mine offline as soon as a user sets it up. In a month, ETN worth about $3 can be mined. The virtual asset can then be used for online services, mobile top-ups, and shopping. It can also be traded on exchanges for other digital currencies.
Specifications of the M1 Smartphone
Other specifications of the M1 include Quad Core CPU with a processing speed of 1.3 GHz. It also features 8/32 GB inbuilt memory storage and two SIM card slots. For its cameras, there is a 5MP camera at the rear and a 2MP image capturing sensor at the front. The M1 also supports 4G network connectivity.
A closer look at this smartphone reveals that it is a low-end device which has been valued at $80. According to Electroneum, setting the phone at that price is to encourage its adoption in developing countries. The startup also revealed that in some regions, it will be sold for as little as $60.
M1 to be Sold First in South Arica
While commenting on the development, Nick Cook, head of operations at Electroneum stated that the M1 will first be sold in South Africa. The device will be offered by local vendors and possibly, Amazon in a few weeks time.
Richard Ells, Electroneum’s CEO Said:
South Africa was an obvious choice for us. We carried out a large survey in the country and found that 97 percent of those who responded said they would like to use ETN to pay for mobile airtime and data.
It is worthy to note that Electroneum is one of the few ICOs from 2017 that is still working with their road map. In 2018, users could mine ETN from their Android smartphone after downloading the Electroneum app. This time around, a smartphone has been dedicated for that purpose. The M1 now joins Dash’s KRIP smartphone as one of the cheapest smartphones for cryptocurrency activities.