Update: 9-Oct-2021: The value of the Eagle Token (EAN) is just USD 0.0003. At the moment, it is simply not worth it to do any sort of mining on the Eagle Network. I have been mining for over 6 months and the 7000 Eagle Tokens are worth just USD 2-3 dollars! Of course the price of EAN might rise in the future but looking at it right now, it kind of looks bad. But here is hoping that their Swap feature will help increase the value of their native token. Note that the project had actually been successful and the features they promised were being implemented. Just that the value of their tokens did not mean my expectations.
I have been mulling around with plenty of these mobile mining app and most of them I think will most likely not make it. Sure Pi Network should be one that will succeed but the rest of the batch seems to be destined to fail. Even Bee Network which should have some financial muscle behind the project seem to be lagging behind. There was no updates or even announcement for a month already. Feels like it is dead to me. And does not make me feel much confidence for these projects in the long term.
However I am rather confident with Eagle Network[referral code: U27G8MDM]. Sure when they first started, I felt that they were a bit “scammy” as they had those “boost” packs (or “powerup”) where you can pay money for extra mining boost rates. But they have since removed them for a fairer method of just mining and getting more users to join the network. Which in my opinion is a good thing. This way nobody can get just far ahead without much effort. If you want a “boost” you will need to get your friends or someone to join the network using your referral code. Yes this actually helps the network by letting more people know of the Eagle Network. Adoption of the network is key to the success of the network.
As for the reason why I am quite confident with Eagle Network? Well it is because of their frequent updates. Although at the time of writing, the Eagle Network own native blockchain has not be implemented, they have already started using the Binance Smart Chain for the time being. This means that from next month onwards, their temporarily blockchain will be available and functioning. You will be able to transfer Eagle tokens to your own wallet. And yes, the wallet should be up and running by next month. Hopefully. This is quite an impressive feat as the Eagle Network app has just been launched in February 2021. According to their recent posts, it seems that they have plans for their native blockchain to be ready by 2022. Again quite impressive if they are able to get it up by then. Their native blockchain will use “elevated proof of stake“. As to how it works or how it compares to the regular proof of stake, I have no idea. I tried searching for more information and it seems that there isn’t too much information on this type of blockchain technology. Well we will just need to see what they come up with. Maybe it is just another implementation of the regular proof of stake.
And it seems like you can start staking your Eagle tokens once the blockchain is up. I would certainly love to see how everything goes for this project and their staking rewards. Quite exciting. This is actually the first time I have seen a true mobile mining cryptocurrency project go “live” actually. Pi Network is still in its testnet phrase and there doesn’t seem to be that much updates either. Oh Eagle Network’s iOS application had currently finished its testing phase and should be available soon. So iOS users can start mining as well.
As for the people behind the project? Well we don’t have much information about them either. This is not always a bad thing but I would definitely like to see a few faces in charge of the project. At least give us the names! I am a bit skeptical when it comes to anonymous teams as I am in the firm believe that if you don’t plan to cheat, there is nothing to hide. But as I see this project getting updates more and more often, my confidence started growing. For those who are interested, Eagle Network is a rather typical “gamified” platform. This means that they are planning to create a gaming community with this network where players can download games via this application. As for the use of the Eagle token? I am not too sure. Perhaps to pay for the games or to use as rewards? At the moment they have a game called Eagle Crush and you can earn tokens from playing it.
The application interface is quite decent. Again this is something the Pi Network team should learn from. I honestly don’t understand why the Pi Network team don’t spend more time making their application slicker and more user friendly. The Eagle Mining Application is clean and have easy to understand layout. You don’t have to spend time trying to find where a particular function is located. Both Bee Network and the Eagle Network applications makes me want to come back to the app, even if it just to tab a button. Oh they have this “faucet” spin the wheel gimmick which can give you more tokens per day. Again, it really doesn’t take up a lot of your time. Just that sometimes it will show advertisements. However the best way to increase your mining rate is still to get your friends to join the network.
And finally for those who think that they can become rich overnight with this mining application, then I will be the bearer of bad news. You probably won’t be. Nobody knows how much the Eagle token will be worth. And if you ask me, once the project goes live and you can trade your Eagle tokens, it probably won’t be worth much either. And in order for it to increase in value, there must be use cases for the token. Without any use case and if the entire gaming platform behind it doesn’t work out, those tokens will be worthless too. But with that said, all the user needs to do is to tap a button everyday (to activate the mining for the next 24 hours) and nothing else. It should not take too much resource or bandwidth either, as the mining is virtual. I don’t mind too much as I am a phone freak myself. But bros, never pay for anything on such apps! Especially for “boost rates”.
You can check out their whitepaper here.