I don’t really have anything against mobile “mining” applications but I feel that the Bee Network really needs to provide its users a little more information about their application. Yes their white paper has improved quite a lot since I first started using this app but still I have no idea what are their main purpose here. They talk about being a Decentralized Autonomous Organization (DAO) and whatever the advantages of being a bee is but nothing much else remotely concrete in this white paper.
And their core team seems to be hidden behind some mysterious cloud which is kind of surprising as they keep saying that they will announce the members, sponsors and even the advisors for quite sometime. Is it really that difficult to give the names of the core members which should already have been around since the beginning of the project. Not too sure why the secrecy, especially considering that they do have some big financial muscle behind them. At least judging from their domain name – bee.com. That is one pretty expensive domain name.
Anyway enough of my ranting. We should be checking out their mobile application and finding out whether they are a scam or are they the real thing. After using the application for a few months, I didn’t face any issue with the app. Runs fine and none of my friends complained that they had any issues either. Very lightweight as well. And I must say, the interface is pretty decent. Definitely much better than the Pi application. Probably something the Pi team should take note of. Having a slick interface makes the users want to keep on coming back, even if it is just to tap a button.
As to whether it is a scam? I personally don’t think it is a scam though. Someone made the effort of creating the application, the pretty long winded white paper and the app is being updated constantly. And they don’t seem to be selling me anything. I have not paid a single cent since I started using the app. And no advertisements either. Which is pretty nice, considering that even the Pi Network app do have advertisements. I am guessing the most probable explanation could be this could be another commercial venture for a mobile gaming network and they are trying to promote it by making it into a crypto mining community.
For the uninformed, these crypto “mining” applications do not actually “mine” coins. They are merely simple applications to distribute virtual coins to the user and just only require the user to open up the app once per day to get the rewards. You won’t need that much processing power or even bandwidth for this purpose. In this case, the Bee Network app gives the user Bee Tokens. And how much is the Bee Tokens worth? Nobody knows. Heck, I don’t even know whether the Bee Network will be successful or not. It could just disappear in a few months time, who knows? Admittedly, their numbers do look strong but I still have my doubts. At the moment there isn’t even any information on the type of blockchain engine they planning to use for the Bee Network. And it is kind of strange that they are following the exact “team” structure as Pi Network – team members and “verifiers”. This would suggest to me they will be also using Stellar Consensus Protocol (SCP). Direct copy of the Pi Network. So I am still on the fence on this project.
The number of users on this network seem to be increasing quite significantly if we were to believe the stats being shown on the application. Seems that they have reached 10 million users in like 6-7 months, while Pi Network has over 18 million. Pi Network is the first “mobile mining” crypto based application and looks like Bee Network is quickly catching up to them. If you would like read a little more about the Pi network, please check out my review there.
With all these being said, I honestly don’t see much harm to install the application and spend a few seconds everyday to tap on a button. For me, I just love meddling with my phone and a few seconds per day pressing the screen is nothing to me. All in the hopes that one day the Bee Network will be successful and I will be able to use my Bee Tokens for my retirement. Which is highly unlikely, so please don’t get your hopes too high up. But we can always dream right? And even if the project goes ahead, it would probably take a rather long time for it to mature and for the Bee Tokens to be worth something. Another reminder that Bee Network have yet to announce the type of blockchain it will use for their engine. But their announcement posts seem to suggest they are hiring staff and community members though. Might be a positive sign.
If you would still like to go ahead and give Bee network a try, you can make use of my invitation code: u27g8mdm when you sign up. Link to their website is here.