Electroneum is a platform based on crypto offering instant payment system. This project has a prime focus on swift and secure transactions to the world’s unbanked population, accounting for a majority of the world’s population.
ETN released its wallet manager in December 2017, persisting its focus on offering folks access to an inexpensive and simpler way to utilize money across the world.
Initial mobile mining app was released by Electroneum back in March 2018, allowing users to mine ETN through their mobile devices.
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Richard Ells is brain behind ETN program. Before he stepped into crypto sector, he was an entrepreneurial marketer, while pursuing his dream to become a coder.
Back in 2019, while serving as platform’s CEO, he discovered and conducted release of AnyTask, initial freelancing platform to concentrate on creation of virtual economy for still striving nations. Freelancers all over the world can easily do gigs on this platform via ios and android devices.
ETN App Making it Easier for Users
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ETN app allows users to purchase, sell or trade Electroneum simply. It enables clients to mine, transact, and transfer crypto easily. This app is among few elements that make up ETN network. Many businesses across the world accept ETN.
ETN app is swifter in contrast to prominent cryptos like Bitcoin, which needs around an hour to process transaction. ETN does it quickly over blockchain, where folks don’t have to wait for paying businesses that accept ETN.
Let’s say a client sends ETN to a product seller, the app will then verify if sender possesses the needed amount. Then retains this sum not to be utilized again and quickly confirms both parties regarding successful payment.
Prominently growing currency has stepped in every nation. Electroneum can be utilized anywhere without any alterations in its services. ETN is the sole crypto-asset allowing folks to recharge airtime and data in over 140 nations. It can easily be downloaded via ios and android devices.
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What Makes Electroneum Distinct?
Upon its release back in 2017, Electroneum, which was initially developed utilizing Monero codebase, concentrated on gaming sector. But tides turned as soon as Electronuem redirected its path to develop swifter payments platform for folks worldwide.
Electroneum has a similar objective as other cryptocurrency projects, but it does it in a distinct way. It has something in its line of sight which is accessible to almost every individual on planet, smartphones.
Inclusion of Unbanked in Global Digital Economy
It targets Unbanked population having possession of smartphones. People and businesses are already seeking a way to unlatch global virtual economy through blockchain power, which exactly ETN is doing, enabling unbanked folks to have android devices accessibility to financial services.
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Can You Mine Electroneum?
Cryptos are difficult to mine, and folks may get confused if they try to understand this process. So, ETN developers innovated the crypto asset that everyone can mine, leading to a robust network secured against attacks.
Electroneum utilizes ASIC-resistant mining code, which can mine ETN through mobile devices. Folks can mine it via its pool or solely using ETN app on their android devices.
Electroneum Events
ETN saw some significant events during previous year’s December. It was significantly flourishing for gamers that use consoles. PlayStation network became available to be purchased through the crypto, Microsoft’s Xbox joined this queue where users were enabled to buy TV shows, gaming consoles, video games etc.
Another noteworthy event in December was its collaboration with Multi-tech leviathan Amazon, where products became available to buy through Electroneum.
Electroneum Roadmap
ETN had achieved all its goals as per its roadmap, beginning in the 3rd quarter of 2017 when it initiated, and Electroneum Ltd. took total control over the Electroneum project. By the end of 2018, it registered over 2.5 Million users, released various plugins, and launched its community forum. In 2019, it upgraded its blockchain mechanism to the Proof of Responsibility algorithm. By the end of 2020, in-app data top-ups and airtime will become possible in over 160 nations.
Electroneum is now pursuing listings on top cryptocurrency exchanges.
ETN Other Projects
Electroneum has multiple projects such as AnyTask, a freelance marketplace, which offers initial platform to freelancers offering access to global digital economy for unbanked, without any requirement of seller fees or bank accounts.
Another project is TaskSchool, which is under development and still to be launched. This platform will allow folks to gain knowledge regarding basic virtual skills to boost commercial price.
Is it Secure?
ETN uses a distinct algorithm called PoR (Proof of Responsibility). PoR has 3 goals. Management, creation and upkeeping environmentally secure and sustainable blockchain ecosystem.
It now chooses and authenticates its verifiers, enabling group of miners to manage up to 50% of network hash rate or CPU resources. Upon detection of any menaces, blockchain will respond and ceases the verifier.
Is Electroneum Under Regulations?
ETN network has implied robust security and compliance mechanisms as an element of 5th EC Anti Money laundering directives. It functions as per worldwide laws endorsed by international organizations like Financial Action Task Force. Ensuring all the functions are controlled by applicable ETN network jurisdictions.
Will Electroneum Strive in Future?
We cannot predict future, but we can always assume it based on facts. Demand is among the important elements affecting its price. Coin’s value will rely upon number of folks and supply, which is getting higher, many people across the world are now seeking vendor in their region who accepts the crypto.
In nations like Africa where electroneum is flourishing prominently, no matter what form of vendor folks are seeking, whether it’s a sports vendor, groceries vendor or any form of the vendor, all accept ETN.
ETN is rapidly growing in the developing world, as many countries on the globe now utilize it for transactions. It surely have potential to be a top platform in future, and its access will increase as soon as it gets listed on more exchanges.
Is Electroneum Worth Investing?
Many developers in this developing world are getting attracted towards project, and thinks that the crypto has potential, as it’s increasingly getting accepted by businesses, and developers are always working for making the crypto more robust.
ETN sure have strength to become top platform in crypto marketplace. It is a prominent project that’s for sure, and is expected to see a surge in its price in future.
Electroneum Price
As of this writing, ETN was trading at a market price of $0.006947, downtrending at the time by 3.56% in last 24 hours, with a market cap of $124,479,856 In contrast to its all time low couple of years back, it has surged significantly by almost fourfold, which was in march 2020, when it was trading at a price of $0.001428. It currently have a circulation of 17.91 ETN in market.
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