Electroneum is a mobile-based coin currency that was launched on September 14th, 2017. It was primarily developed for online gambling and mobile gaming. It is a British Crypto, and the fact that mining and wallet management is possible through a mobile application makes it phenomenal.
From Bitcoin, Litecoin and now ETN the world of cryptocurrency is evolving with new and distinct platforms. ETN has been developed with a unique Blockchain technology and is integrated to conquer the coin market.
ETN Type of Coding
ETN has confirmed the use of Monero codebase over the Bytecoin coding system. The company preferred Monero because of the following reasons.
- Stability- Monero has been tested and is way more stable than Bytecoin. It offers various features, growth potential, and flexible.
- Maintenance – It has 4,795 commits to its code base while Bytecoin contains 88 commits. Monero is more advanced and developed
- Command of languages -Monero has added more languages to their wallet management, allowing more diversity in the system. This feature has been ideal for ETN in expanding their existing market.
The firm has introduced a transaction fee of 0.01 Electroneum or 1eCent for any coin transfer. The cost has been levied to protect the Blockchain Technology
Although this coin currency has had many challenges in adapting to the harsh cryptocurrency world, it has various advantages compared to the vices.
- Market- due to its flexibility in use, the firm enjoys a platform of over 2.2 billion smartphone users.
- Technology- the coin currency incorporates the use of advanced and destructive technology.
- Brilliant team- the development process is managed by a well-trained and qualified team of engineers and developers.
- Secure – With ETN, your wallet contents and transactions are protected from any online attackers. Transfers are even faster and are made anonymous to prevent any tracking from potential hackers.
The use of a mobile application in the management of funds is possible with the integration of QR scanning codes into its system. This coin currency works without a hardware component compared to rivals Ethereum and Bitcoin. With this in use, the user is ready for a phenomenal mining experience
According to Richard Ells, the co-founder of Electroneum, he confirms that their coin currency is easy to handle compared to Bitcoin that has proved complex when making purchases.
“Currently, the world needs a cryptocurrency that is convenient and easy to use. We have configured Electroneum to enable the ordinary mobile user to mine coins effectively. Other cryptocurrencies have not adopted such a mobile technology.” Richard adds.
ETN’S Position in the Market
The firm has sky-rocketed its palatability to consumers by offering a total number of 21 billion coins. It has led to a shift of two decimal places to the right compared to its rival Bitcoin that is capping at 21 million. A pizza can cost you 0.005 BTC, but it is different with Electroneum. With ETN, it will receive a real-money figure.
Electroneum is already adjusting to the severe crypto market. For instance, in the first financial half of 2016, there was an average return of 375% on an investment of 100 new coins in the market. To date, ETN has achieved a total coin supply of 5,195,262,064 ETN in the market. According to a report released by CoinCheckup, the coin’s strength stands at 75% and its communication capabilities are 100% making them accessible by Telegram, Slack, and Email.
The cryptocurrency platform is both volatile and highly lucrative for miners. With its ability to provide mobile mining through an advanced Blockchain technology, Electroneum is set to expand its markets in the coin market, bearing in mind that there are over 2 billion smartphone users in currently involved with crypto.