Everything You Need To Know About Electroneum
On September 14th,2017, a brand new British cryptocurrency was released through an Initial Coin Offering known as Electroneum. This particular token been developed to be one of the most user-friendly cryptocurrencies and to be used in areas such as online gambling and mobile gaming with coin mining and wallet management available through the use of a mobile app.There was a time when cryptocurrency was just an obscure notion to the general public that was discussed by tech enthusiasts on forums. However, during the last couple of years, things have begun to change, with the explosion of the Bitcoin, speculators, and entrepreneurs all wanted a piece of the action. So we just take a look at what the bear family wants every now and than and try to lay down a layer of content that keeps us up to date and growing, even though I am an absolutely shitty writer, DONT EVEN READ ANY FUTHER. Just watch the videos instead.
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Want To take part? This week are look at Electroneum, it was requested by a bear family member who shall remain Anon. We decided to start to want to produce content that had a much more drive approach to the way we created and focused on projects, to help also as accelerators! So remember to leave your votes on your favorite tokens, that way we can learn more about what we all think is interesting. A very valuable asset to share. So, this week, We have added a new token to our watch and grow list. Remember we are also onboarding new writers on to the platform, as I am a horrible writer. At best. I am one of the worst, So Onwards and upward as we find new writers.
We have seen the major excitement in the cryptocurrency marketplace as it has become the hotspot of the investing world. While Bitcoin has remained valuable, the market share has begun to sink as new opportunities have risen up. There is one thing that has not changed over the years and that is how difficult it is for the average individual to get ahold of and trade these currencies, let alone have the ability to spend them.With that being said, Electroneum will be the first British-developed cryptocurrency that is going to represent a huge shift in the market. It has been built upon its own unique blockchain (the blockchain is the basic underlying technology infrastructure under the cryptocurrency) and has been built to dominate the mobile market.
One of the first things you will take note of is how easy it is to manage and mine through a mobile app. This means that for you as a consumer, it is going to be much easier to make a transaction with your phone, whether it is sending money to family and friends, betting on a hot game, or just buying a new mobile game. This is what is going to set it light years ahead of many other cryptocurrencies that are next to impossible to use for general purchases. Electroneum is also going to appeal to the consumer due to the fact that the number of total coins is capped at 21 billion, which was done when the decimal point was moved two places to the right compared to Bitcoin which was capped at 21 million. If you ever tried to buy a pizza with Bitcoin it may cost you .005 BTC, Electroneum is going to be closer to the traditional dollar amount you are familiar with seeing.
The founder of Electroneum, Richard Elis, who was an experienced tech entrepreneur quickly began to understand the frustrations of trying to buy bitcoin. As he thought about the issues of cryprotcurrency, he knew that the world needed something that was much more user-friendly. In fact, Electroneum was developed with the typical mobile user in mind.
This form of currency also offers a unique aspect in investment opportunity for those speculating. Cryptocurrency is known to be volatile, yet is can also be highly lucrative, during the first half of 2016, the general return on 100 new coins was an astounding 357%, Electroneum is bringing with it such a technological change, it is attracting that same form of attention.
One of the main aspects that has re-assured investors is the fact that this currency has been developed and maintained by a single-minded group of investors and will not likely be destroyed by internal situations that have destroyed other currencies.
Electroneum has gone as far to create an overview white paper of the technology that is used behind it. The company is currently in the process of raising funds to hep launch the currency and the coin will be available for purchase from September 14th.
Electroneum (ETN) is one of the first truly user-friendly mobile-oriented cryptocurrencies that:
- - Has the ability to be mined through a smartphone using Android, with iOS coming soon.
- - Offers the ability to have transactions settled instantly through the use of its Instant Payment System.
- - Has an outstanding 2.5 million satisfied users around the globe!
How To Mine ETN
Electroneum allows anyone with an account and smartphone to begin mining and transacting Electroneum for free. The mining program will run quietly in the background and uses little processing power, data, and battery life. The mined coins will be paid out on a regular basis, allowing the user to send them directly from the app at stores that accept ETN as a payment method.
Take a look at Blockonomi for an indepth guide into how to mine this token,! We are not specialists, obviously, why we are looking to hire writers, I am a ranter!==>>
Electroneum was launched during November of 2017 and is known as an enablement currency, which simply means that they are trying to provide unbanked individuals of third-world countries an easy to use method of exchange.
The currency was designed with mobile users in mind, which easily appeals to the users of over 2.2 billion smartphones around the world, especially with those who have limited banking abilities. Unlike many of the other cryptocurrencies that have come, Electroneum offers an easy to use interface that allows even beginner s to mine coins, make purchases, and transfer coins between various accounts.
Mobile Mining Experience
It is actually quite easy to mine Electroneum with the use of smartphone by simply using a miner app to run in the background.Due to the fact that Electroneum is fully created, held, and spent in a electronic status allows for no physical coins. In addition, it is guarded by the blockchain it is not going to be controlled by an individual, company, or government entity, but through a collective effort.
Transactions are actually processed and then validated through a series of computers that are around the world that must agree of the balances of the every user. Mathematical functions help to safeguard the process and ensure that no individual has the ability to game the system or commit acts of fraud.In the past, individuals were only capable of mining if they had a computer with a lot of processing power. The Electroneum team designed a unique algorithm that allows anyone with access to a mobile phone the ability to mine coin effectively, allowing smartphone users around the world to enjoy mining for coins.
Electroneum launched the Instant Payment SYstem in September of 2018 allowing users to make instant payments, transactions, and confirmations. There is no longer a need to have to wait for blockchain confirmations.
Traditional cryptocurrencies such as Bitcoin needed up to an hour before they would be fully captured in the blockchain. This would not allow for them to be used for everyday transactions such as buy bread and milk at your local shop. Electroneum acts as the third party between a seller and buyer which allows for no waiting time transactions.
Take a look at how it works:
The buyer will send of an ETN to the seller for services or goods, in turn, Electroneum checks to ensure that the buyer has enough funds available and will reserve those funds so they are not able to be spent and offers instant confirmation to both of the parties allowing the transaction to be completed.
During this time Electroneum will work in the background to ensure that all of the funds are sent from the buyer to the seller. The transfer will take place directly in the blockchain. If the transaction fails for one reason or another, Electroneum will continue to process the transaction until it is successful.
There is also a programmable API which allows for retail point of sales and e-commerce shops to allow Electroneum payments in their business. Checkout is just as easy and simple as if you were paying with a credit or debit card.
Who Created Electroneum?
Electroneum was developed and created in 2017 through a group of London based developers and led by Richard Elis, CEO. Today, it is developed and run by a growing team of enthusiastic and talented individuals.
The funds were raised through an ICO in September of 2017 and the Electroneum blockchain went live on November 1, 2017, effectively putting the coin into circulation. Then in December of the same year, the Electroneum wallet debuted with the mobile miner app following in March of 2018, finally allowing the debut of the instant payment system in September of 2018.
Electroneum has turned the cryptocurrency upside down and has made it possible for anyone with a smartphone to join in. This is going to allow for mass adoption and incredible viral growth. WE will continue to do our best to extend our servieces into the research and development of the blockchain space, writing is not our specialty, so stay tune and check out our home page for more information as we open up for more writers coming in the future!