Eagle Network in 2024: A potentiall copycat of Pi Network
Cem DilmeganiBefore proceeding, please read our disclaimer on investment-related articles.
Eagle Network is a crypto mining application similar to Pi network and Bee network allows users to mine currency by simply pushing a button every day to collect a coin/hour. According to the Eagle Network website, the network currently has +590k users and ±10k followers on Twitter since launching in February 2021. However, the anonymity of creators, and whitepaper similarities to other projects, are some of the red flags that circle this app. Based on these, we do not see it as a good investment of your time.
How does the Eagle Network work?
Source: Eagle Network app
Eagle network mining does not rely on a proof-of-work concept. To mine Eagle Network currency, users are only required to download the application on their mobile phone and push the mining button every day. During a 24-hour session, users get 1 coin per hour and can receive additional coins by inviting more people to join. This is similar to the systems employed by other free-to-mine cryptocurrencies like Pi Network.
In addition, the application has a “spinning wheel” feature such that a user can spin the wheel once per day to earn 1-8 eagle coins.
Project phases
According to the whitepaper, the network creators aim to expand the platform and develop a blockchain and a decentralized app over 4 phases:
- Phase 1 revolves around launching the mining mobile application and designing a wallet for both iOS and Google Play stores.
- Phase 2 aims to ensure KYC compliance and launch Eagle tokens which can be traded with different crypto tokens.
- Phase 3 will enable staking, public offering, and exchange listing. It will also be the start of the Eagle Blockchain development
- Phase 4 is the last phase which will revolve around creating partnerships and smart contracts, as well as launching a project academy and the EgonCoin blockchain and decentralized applications.
As of June 2021, developers were able to reach the first steps of the first phase (i.e. writing a mobile app).
Types of miners
There are 4 types of app users:
- Miner: A miner is a user who pushes a button every day earning 24 coins per hour.
- Keeper: A keeper is a user who actively introduces other users to the platform earning an extra 25% base rate for each new joining member.
- Witness: A witness provides a list of people they trust, and verifies pending members whom they know in person. Witnesses earn 0.2 Eagle x the number of verified people per hour to their base mining rate.
- Delegate: Delegates are high-level miners who also run the Eagle node software that runs the core algorithm on their PCs or laptops.
Is Eagle Network legit?
We don’t think so. Eagle network has many red flags surrounding both the design and mining process, which include:
The whitepaper
A whitepaper is one of the most influential marketing materials for a cryptocurrency project. It outlines the concept, ecosystem, and usage guidelines. When we looked at the Eagle Network whitepaper, we found that some parts are similar to the Pi Network whitepaper with some rephrasing. For example, the miner’s section:
Paid upgrades
According to commenters here, the app no longer offers paid upgrades.
When it did offer such functionality, this is how we viewed it:
The application features an upgrade button allowing the users to upgrade their mining rates ranging from 2-12 coins per hour for a maximum payment of $2.99 per year, and the creators claim that the generated funds will be used to secure and grow the network to attain the third phase earlier. This is a red flag because emerging projects tend to rely on donations or in-app advertisements to fund their progress. It would be risky to invest especially at these early stages when there is no guarantee that the project will reach more advanced phases.
iOS app
Initially, there was an Eagle Network app on Google Play but there was no iOS version of the application. It is relatively simple to launch an iOS app and it would have been strange if that app remained missing. The developers to built the iOS app as well so there are no issues on this front anymore.
Should you invest your time or money in Eagle Network?
No. From our perspective, it looks like Eagle network is yet another project profiting from the hype around similar projects such as Pi Network and will probably crash before reaching the phase where users can benefit from collected coins. And although it may look harmless to install the app and collect free coins, there are still risks that may arise such as the data collected by the app as indicated by its Google Play store webpage and its privacy policy. Giving time and data to anonymous parties does not sound like a great idea.
Moreover, Eagle Network has yet to launch a tradable coin. The app developers and users have a conflict of interest because
- the developers are already collecting revenue from in-app ads and upgrades
- the users have no tangible benefit from the current app but would only get value if the coin is launched on an exchange
How to avoid getting scammed?
We do not recommend projects promising people easy money while the developers benefit from the project. That’s why we investigated different projects to help others identify good and bad investment opportunities for your time or money. Feel free to read our articles to avoid getting scammed:
- Tether USDT is possibly a scam but it can remain valuable
- Smart trade coin is most probably a scam, stay clear of it
- Spotter is an anonymous Pi Network clone monetizing users’ time
- Timestope is possibly a big waste of time for its users
And before investing in any cryptocurrency project, make sure you check our guide on investing in crypto to avoid scams & pick winners and our comprehensive list of cryptocurrency exchanges.
This is our opinion about Eagle Network, feel free to share your thoughts in the comments.
Cem has been the principal analyst at AIMultiple since 2017. AIMultiple informs hundreds of thousands of businesses (as per similarWeb) including 60% of Fortune 500 every month.
Cem's work has been cited by leading global publications including Business Insider, Forbes, Washington Post, global firms like Deloitte, HPE, NGOs like World Economic Forum and supranational organizations like European Commission. You can see more reputable companies and media that referenced AIMultiple.
Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised businesses on their enterprise software, automation, cloud, AI / ML and other technology related decisions at McKinsey & Company and Altman Solon for more than a decade. He also published a McKinsey report on digitalization.
He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem's work in Hypatos was covered by leading technology publications like TechCrunch and Business Insider.
Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.
To stay up-to-date on B2B tech & accelerate your enterprise:
Follow onNext to Read
Alpha Network is a Waste of 15 Seconds per Day in 2024
Phoneum: The Next Big Cryptocurrency? Probably Not! in 2024
we only follow the development of the project, and will not invest money if one day this project requires investing money, don’t trust too much in anonymous projects like that, and so far the project is developing slowly and we are still monitoring the development of this project, whether it has the potential to be a scam or not
I have been mining Core (BTCs) for long now can you please tell about this
Is it a legit one ??
Thank you for the comment. The article explains our position, what else are you curious about?
If the question is: “Will this get me rich?”, the answer is “when pigs fly”
There are no longer paid upgrades in the Eagle Network. You can verify this with the admins in the telegram group and update your article
Did they explain why?
The app has been removed from the Google Play store.
Hello Timothy. As of 29th August 2022, it’s still on the Google Play store.
Just also thought to provide evidence that pi only entered p2 recently may 31st 2020 https://minepi.com/blog/pi-network-growth-journey-25million
Thank you!
Guys, Eagle Network is legit!
They have launched the CryptoKara Decentralized Wallet App in September month. I found their details on Medium posts: https://medium.com/@eaglenetwork
They are moving slowly but very steady! Launching the Decentralized Exchange as per their announcement in the official telegram groups.
I think it takes more to call an anonymous project legit.
If there there is any other app that look legit like pi
Please let us know
This is a nice article
It’s an eye opener indeed
Thank you!
Hi sir ( Cem ) !
I am a young boy, 14 years old , but I’ve a great interest on trading, investment, cryptocurrency, staking and tech related things.. I really appreciate how u explain each and every project. I have stopped using both bee and pi network because I don’t like waiting for so long for such coins, I think when these coins will get value at that time I will get a job. But in eagle network it promised that it will be a fast project and their phases are within one year ( this makes me to earn eagle)… But I want to know who is behind Eagle Network, whether a good guy or a bad guy .. I don’t think that a guy who has done PhD , his project will work ( I am indicating pi network) and a guy who hasn’t done PhD , his project will not work… Its not about “White Paper” .. I think “White Paper” acts like a logic… But the main thing is practicality, the progress and I think the progress made by Eagle Network is comparatively more than Pi Network. Eagle network is going to release another token on September .. And I also heard Eagle Network company is in UK and the co founder is Jay ( not sure ) and they are telling us to trade in coinvila … These things made me to trust Eagle mining network.. But I also need ur recommendations coz I m just 14 but u r much older than me and u have more experience than me. They are also telling us to stake the coins mined… But I m not going to do that ( I think it will be risky ) … Today I end up here.. if any mining based network comes in market, then please write about that and I am also there to comment 😂… I admire u…
If u have any social media network then please specify , I have many questions in my mind.. I want to ask you
Thanks
With regards,
Labanya
Hi Labanya, thank you for the comment!
I would recommend you to stop worrying about these coins and enjoy being 14. Life gives plenty of opportunity to worry about money when you are older.
And if you are feeling lost about what to do, you can try things like learning to program, play instruments, pick up new hobbies or just spend more time with friends.
They are showing me something went wrong
Am able to get in again
I thought it would be a great app and am mining for some weeks now.
Eagle crush game is fun and wanted to check the shooter game today.
But when I tried to log in today, it says something went wrong and am not able to log in.
That feels a bit dodgy to me as after restarting the mobile the issue remains.
I hope it can be fixed.
No update in the playstore so I do not know what is going on.
To eagle mining crew:
Please help
you could honestly say this about 60 % of Crypto Currencies.
baited article tbh… this is monopoly money on the internet, and you speak in terms of “safe”
I think StormGain is quite legit but didnt try to withdraw yet.
Do you know anything about them ?
Electroneum was called a scam for a long period. I actually made 100$~ using only my phone and sent it to my trading acc w/o problems. (no longer available)
ETN is still very active as far as I know.
Not much effort, not much money, but still.
I’m actually “mining” both Pi and Eagle.
I personally accept to give some time/watch 1 ad per day to give those guys the opportunity to build what they want.
A good way to earn free coins is to use staking on any legit platform, but you have to put some money in, and it doesnt bring much neither.
(BNB Vault is maybe the most profitable one, correct me if I’m wrong)
Thanks for reading, sorry for my english.
Hi Vince, thanks for the comment. Agree with the Electroneum comment. They were called a scam for a long time. And to be honest, I don’t think they generated the level of value that their users wanted to get. But it is nice that they got listed on an exchange.
Why do you call StormGain especially legit? I don’t think they are as solid as exchanges like Binance and Coinbase given their smaller user base but I haven’t looked into them in detail
Hi
I read some of your articles, and then I thought if you have any reccomendations for crypto and the projects like Pi network except for famous ones, please write an article for that( or do you have already one?)
Most of people look for someone like Nate Silver.
Further investigation, good predictions, high stats.
Thanks
Good idea, thanks for the feedback! We’ll look into it
Alamira Jouman Hajjar,
I am from Eagle Network – (Admin Mahesh).
Can you please tell me on which basis you are saying that ” A potentially scammy copycat” comparing with other Network apps?
What proofs you found and why you are misleading the new members.
No iOS app? Who said you? We have launched the iOS app and you can search on Apple Store as well.
Paid upgrades: Paid upgrades are optional, NOT compulsory to members, they can keep mining without any upgrade method.
You have explained by showing the above images, we took the method of other network right?
Can I have a question, what is the difference between eBay, Amazon, Walmart, Google, Facebook, Twitter and other similar business companies. So all they are copying each others?
Please update your article and dont mislead the members.
You can check all the updates at our official Telegram Group: https://t.me/EagleNetWorkApp
Hope you found something interesting in this month and we’re launching our exclusive decentralized wallet in August.
Thank you,
Kind Regards,
Mahesh
Hi Mahesh, this is Cem stepping in for Alamira, we wrote the article together,
Thanks for the comment and congrats on launching the iOS app. As you know, articles are not updated real time and we added the latest state of your iOS app into the article.
As for your other comments:
– I think the copycat point is quite clear. No one would call Amazon a copycat of Walmart. One is an online store and a cloud service provider. The other is a physical retailer. To be clear, we are not against copycats, there are many copycats of US businesses in Europe and the developing world. But that doesn’t mean we are not going to call copycats for what they are.
– Thanks for the invitation but our view of your app is explained above clearly. We are not going to put our time and provide our data to a copycat app with an anonymous team which will probably provide no value to us. Coming out here and saying you are Mahesh doesn’t change any of that.
Our recommendations would be:
– Stop taking people’s time and money in exchange of worthless coins. Move to P3 so your users can exchange their coins and the value of the coins become clear to all users. Then, they can know what they are investing their time into.
– Stop hiding. No one should give their time and money to anonymous parties while getting nothing in return. Put your team’s qualifications on your website and explain why you are more qualified to make your project a success while there are tens of other teams out there like the pi network (explained here: http://research.aimultiple.com/pi-network) that are working on exactly the same problem. Explain why you will be worth people’s time when there have been other apps that provided free crypto (e.g. https://research.aimultiple.com/good-dollar/ or https://research.aimultiple.com/electroneum/). However, the free crypto they provided has only been a few euros/month at most (most of the time a lot less). People need to know what makes you qualified to solve a problem that others haven’t solved with highly qualified teams and years of work.
Thanks for the info. Which one is legit please HELP!!!!!!!!!!!! Am a eagle minner, jaalifestyler and a cloud minner. Am I safe?????????
None of those provide anything that is of value now. This could change in the future of course.
How can I withdraw when I got 2500 eagle
1 eagle network is equivalent to what in exchange of money
Please which of the mining app is legit?
If you are searching for free money, brave browser provides a tiny bit of it in exchange of making you see ads.
We haven’t yet seen a mobile mining app that seemed reliable and was paying out something valuable.
Pls is the Pi network legit?
Yes, i believe it is
Thanks for the comment, please see https://research.aimultiple.com/pi-network
Thanks for making this view public. It’s an eye opener.
Any thoughts on SoonMoon?
Can you investigate Safe Space Protocol please?
Thank you for the comment. Unfortunately, there are too many projects for us to cover. We focus on exceptionally popular ones but didn’t see any traffic on the safe space protocol website so we assume that it is not popular yet. Please remind us about them if they manage to gain a large user base.
How can one make money out of it?
And at what level of the coin will it be ready to be sold?
Comments
Your email address will not be published. All fields are required.