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Name: Electroneum
Symbol: ETN
Circulating supply: 0 $
Max supply: 0 $
Price: 0 $
Volume 24h: 0 $
Market Cap: 0 $
Percent change 24h: 0 %
Founded in 2017 by Richard Ells, Electroneum is a decentralised platform that leverages the benefits of blockchain to undermine the traditional finance sector. The project strives to gain global recognition and adoption by focusing on mobile market and smartphone audience. The platform allows to mine around $4 US dollars worth of ETN token every month that can be traded or stored. Electroneum is utilizing blockchain technology to make the benefits of digital economy available for the developing countries. The Electroneum community is also using AnyTask project to sell various digital services and earn ETN rewards in return.
The developers of Electroneum, which is a fork of Monero, are focusing their brainchild on the mobile industry. Unlike similar and unremarkable coins based on the CryptoNight algorithm, oversaturating the crypto market today, ETN intends to become the embodiment of a unique concept that is targeted solely at smartphone users, giving them unhindered access to cryptocurrencies and making it easy to earn. The total number of smartphone users has exceeded 5.2 billion as of February 2021. This is an impressive number that will only increase every year. What is Electroneum? What are the advantages of this cryptocurrency? We'll consider Electroneum news and essentials.
Electroneum is a cryptocurrency developed on its own blockchain, which is an improved copy of the Monero (XMR) code based on the developments of the Bytecoin team. Electroneum blockchain ecosystem appeared in September 2017 being led by Richard Ells` development team, who wanted to spread the cryptocurrency in the mobile and online games market. Many ordinary people believe that cryptocurrency transactions are a complex process, this stereotype makes it difficult for society to accept digital money.
Electroneum's programme code is based on Monero. The developers have focused on accelerating microtransactions such as buying mobile games, paying for apps, and sending money to friends.All transactions are completely confidential. To ensure privacy, the network uses stealth addresses to prevent the sender's assets from being tied to the wallet. The recipient will be able to verify the fact of sending a transaction from a private address after you tell him your public key.
To scan the blockchain network and accept incoming transactions, a user needs a private view key. When the recipient's wallet program detects a valid public key of the sender, it generates a one-time private key and then the user accesses the funds using the private spend key. It features fast transaction confirmation and low fees.
You can buy Electroneum (ETN) on various online exchanges. Please carefully read how to buy Electroneum and which payment methods are available before registering on the exchange. Currently available payment methods are the following:
Unfortunately, the coin has not been listed on such giants as Bittrex and Binance. Electroneum is actively traded on the equally popular platforms HitBTC, KuCoin, Liquid, Huobi Global, as well as on CoinDeal, Godex, Sistemkoin, CoinBene, Bitbns, CoinSpot, TradeOgre, CryptoMate and others.
Circulation of Electroneum
In total, there are 21 billion Electroneum сoins. On the official website, you can study the "White Paper'', which provides detailed information about the developers and further ways of developing this cryptocurrency.
Electroneum is convenient to use, as the cryptocurrency has the usual two decimal places and looks like classic fiat money.The developers deliberately released more tokens so that there are not many inconvenient values after the decimal point.
The circulation of tokens on the TOP-15 cryptocurrency exchanges is the greatest desire of all developers, therefore expanding the list of the platforms where ETN can be circulated is among the highest priority tasks of the project creators.
The fact that ETN is developed specifically for smartphones makes it very popular, since everyone can mine it, because there is no need to spend a large amount on the purchase of high-power equipment. Electroneum mining can be carried out both through a PC and through mobile devices.
In order to start Electroneum mining through a computer, a user needs to download a miner and mine cryptocurrency via a CPU or GPU.
Mining of coins using smartphones / tablets is the key feature of Electroneum. It does not require any skills, experience or knowledge on this topic. Without exception, all users of modern Android and iOS smartphones will be able to become a miner. The mined ETN coins can be either withdrawn through the exchange to fiat, or used to pay for services from partner services directly. It is worth noting that mobile mining is just a conditional emulation of the mining process through mobile software, which does not load either the processor or the graphics core of your smartphone. In the case when the Electroneum cryptocurrency is mined through mobile gadgets, a centralized system is involved. Centralization is present only in the mobile version of the software, according to the authors of the project.
While your mobile mining does not really help validate new blocks on the blockchain, you will still be rewarded. Free ETN wallet app rewards users for referring new customers. You can download the Electroneum crypto wallet for a smartphone on the official website of the project or via Google Play and App Store.
Whether Electroneum is profitable, analysts' forecast is ambiguous, however, an increase in Electroneum value is clearly observed, and mining does not require the presence of farms or an extra powerful PC. Accordingly, for those who have a desire to practice in the mining of virtual currency and not to just get an experience, but also additional income, ETN is a great option.
ETN blockchain is based on the reliable and proven Cryptonote algorithm. A similar blockchain is used in Monero, Bytecoin and other altcoins. Online transfers cannot be tracked, but their reliability is confirmed. Such a system is implemented by means of a "ring" signature.
A user owns two private keys, one of which is hidden and the other one is public. When the transaction is confirmed, the blockchain determines that it was confirmed by one of the keys, but it is impossible to track by whom exactly the transaction was performed. Users' assets are stored in anonymous wallets. The network automatically creates a unique one-time key for each transaction, which does not allow tracing the entire history.
Consensus in the Electroneum network is achieved through the Egalitarian Proof of Work. Users give their votes for the correct order of transactions, the introduction of new features and fair distribution. Equal rights of users play an important role in such a system. This is one of the main reasons why the authors decided to abandon mining through ASIC in favor of mining ETN using a conventional CPU.
Currently 17,843, 429, 805 ETN coins are in circulation which make 84.97% of the total emission.The maximum Electroneum price USD for the last 24 hours is $ 0.01172772, while the minimum price of Electroneum is fixed with the mark on $ 0.01094554 having the market capitalization of near $ 200 million.
First of all, the currency is distinguished by convenient payments within mobile games and other applications for smartphones. The bottom line is that the issued number of ETN coins in the amount of 21 billion allows performing calculations in the values "0.XX", that is, with two digits after the decimal point. As all Bitcoin users know, that with its emission of 21 million coins, payments in the BTC have to be made in inconvenient values with six or more decimal places due to the large splitting. In addition to the clear value, ETN currency is notable for fast transactions.
Due to the fact that the ETN cryptocurrency is still circulating on certain trading platforms, there are not many options for how to exchange Electroneum to USD and fiat money, in general. On the following exchanges like Liquid, Sistemkoin, Bitbns and CoinSpot it is possible to convert Electroneum to fiat. Many traders who want to withdraw coins directly into traditional money send funds directly from the exchange wallet to the account of the exchange machine. However, this option has a key drawback as not all exchange platforms support direct exchange withdrawals, but those ones that support it often set prohibitive commissions. On those exchanges that do not provide for the withdrawal of Electroneum directly to fiat, ETN can be exchanged for other popular coins, in particular BTC and ETH. After selling ETN for more tradable currencies, they can be transferred to sites with a better rate and sold for USD, EUR, etc.
