Phoneum is a decentralized cryptocurrency, designed to deliver a simplified user experience and platform that enables all users, regardless of technical aptitude, to fully participate in the new cryptocurrency economy. Phoneum ‘s mission is to provide equality to all by making mining available to everyone.
Phoneum’s mission is to provide equality to all by simplifying the mining process. While the meteoric growth of the cryptocurrency market and increased media buzz was high at the end of 2017, mainstream adoption and acceptance of cryptocurrencies has just begun. Phoneum, as an all-in-one solution, is well positioned to address the public’s interest.
What makes Phoneum unique, is the custom algorithm and blockchain structure that delivers a truly mobile-only mining solution and simplified user interface which does not require technical skills to deploy.
Phoneum seamlessly integrates into users daily mobile device usage, enabling them to mine and support the advancement of this disruptive technology while not disrupting the everyday usage of their device. It is a new, scalable model of mining that harnesses the power of ubiquitous smart devices globally, requiring lower energy consumption with significantly less impact on the environment than current cryptocurrency mining models.
With over 2.1 BILLION smart phones existing in the world today, the market is ready for a truly mobile only cryptocurrency that appeals to the masses.
Today, only those who own specialized, high-powered mining rigs or develop mining farms are able to successfully profit from cryptocurrency. While mining is still technically possible for anyone, those with under-powered setups will find more money is spent on electricity than is generated through the mining process.
The dedicated blockchain and custom algorithm is for mobile devices only (no PCs). This means equal opportunity for all miners, as well as low power consumption, and no need for expensive equipment purchases. Earning PHM can be done through the mining, by verifying transactions — Proof of Work (POW) — on the blockchain as well as time spent in the app — Proof of Time (POT).
Blockchain technology and cryptocurrency is quickly becoming mainstream, but very few are used as a preferred payment method. ePayments and e-commerce still relies almost exclusively on financial institutions serving as trusted third parties to process transactions.
Phoneum offers scalable blockchain technology designed for mass adoption through the use of a free mobile app. This app is available for Android™ on Google Play and in the App Store for iOS™. This mass availability allows for everyone to be involved in decentralized cryptocurrency.
- In game purchases, replacing ad networks
- Standard software installed on all cellular phones, so that out of the box the owner can mine to offset the cost of their service plan
- Fiat currency replacement
Phoneum PHM will be an ERC20 compliant token on the Ethereum blockchain network. Upon launch of the custom blockchain, all Phoneum tokens will automatically be converted. It will be the loyalty token to reward miners for positive network contribution and will be acceptable payment or currency for participating merchants.