At the advent of cryptocurrencies, they were mined by relatively small entities. Single persons, mining with just their personal computers, without any specialized hardware needed. As the networks grew, more and more processing power was required. Only high end PC’s could mine. And then, you needed a whole farm to make a profit. Therefore, it became unaffordable for everyone but the select few. Or companies specializing in just that. Now you need an ASIC stack to mine Bitcoin. This defeats one of key principles in design of the cryptocurrency – decentralization. The network is still kind of decentralized, but decentralized as in few thousand pools owning the majority of the mining power. Not the most optimal solution. Envion, an ICO company, wants a return to the era of personal mining.
Summary of Envion ICO
An additional issue, which I didn’t mention in the intro, is of course, the ever growing power cost of mining BTC. This has a negative effect on the environment. We should aim to decrease power costs, not increase them. Not only you have to own expensive hardware, you need to pay large electricity bills, further worsening the situation of network democracy, where it’s interests are in the hands of the “elite”, owning the biggest farms.
Envion has developed a system of MMUs, Mobile Mining Units, that can tap electicity directly at the source. Green power like solar, hydro or wind, or fossil fuel power plants would be given intermodal containers equipped with mining hardware, communication and industry 4.0 automation features. Breakthrough cooling system included, costing less than 1% of total system power consumption. Envion is a fusion of the blockchain and renewable energies.
Token name EVN, it uses the ERC-20 standard. The token holder is privileged to receive 100% of earnings of the proprietary Envion mining operation, 35% from third-party operations, voting and veto in important company strategy decisions. Sale started on 15th December, 2017, and will end January 14th, 2018.
Envion Team and Impressions
Reading the whitepaper, you can see there is no flashy presentation. It’s showcased in a way as if you were reading a scientific document, not a sales pitch. That’s a bonus to me. A lot of ICOs seem like downright scammy pyramid schemes or MLM. This one earned my respect with its honest approach. Moving onto the team itself, it’s full of seasoned experts. Matthias Woestmann, CEO, is an enterpreneur, investor and media professional. He co-financed a $300M solar company. Having two decades of experience, he surely knows what he’s doing. The rest of the team isn’t divided into specific positions, but their general roles. Felix Krusenbaum handles finance, Johnatan Koch the technology. Both of them are experienced IT professionals with over 10 years of experience. This team as a whole is a huge hit. I’ve reviewed profiles of everyone on board, and I can say I’m impressed. Envion spells success.
Socia Media and Press
Envion has a HUGE following for an ICO, which I’ve seen at 5k likes max. Their Facebook page has ten times that. Apparently, they managed to raise $34 million dollars in first few days of the ICO. Impressive! People are drawn to the idea of connecting blockchain and renewable energy technologies. The cryptocurrency community sure loves Envion.
Risks and Opportunities of Envion ICO
I can see this ICO being highly successful. The project has made such an impression on me that I am going to invest a few dollars into it, personally. However, as with every investment, please research what you’re investing in and make your own judgement. We are not responsible for any losses you could have by investing in this or another ICO. Still, I highly believe this ICO can net some serious profit for it’s investors and make waves in the technology world.