What is cryptocurrency Electroneum (ETN) in simple words?



What is cryptocurrency Electroneum (ETN)

Cryptocurrency Electroneum is an anonymous cryptocurrency, working on his blokchain in the basis of which “lay down” blockchain of cryptocurrency Bytecoin. Cryptocurrency Electroneum was launched in 2017 by a team of developers, led by Richard Ells, who wanted to create a cryptocurrency for the smartphone market, or rather for the games and applications used by these devices. However, the beginning of creation of cryptocurrency Electroneum was started in 2016, but due to lack of financing cryptocurrency could not appear faster. It was in early 2017 that the team conducted the ICO and collected money for the development of projects, but through time again appeared a problem, which was the name of the project. Initially, the project had a working name Electron, but it was impossible to use it due to the presence of a project on the market with the same name. After short meetings, the developers decided to change the name to Electroneum, which we are now seeing.

The essence of cryptocurrency Electroneum (ETN)

Having read the first section of our article, you hardly have a picture, for what exactly it is necessary cryptocurrency Electroneum; therefore, here we will try to reveal a phenomenon of the considered cryptocurrency. However, to call it a phenomenon is not quite right, because in fact nothing supernatural Electroneum is not in itself, it is simply cryptocurrency for calculations in mobile games and applications. Now Electroneum support both Android and IOs.

Advantages of Electroneum before Bitcoin

Cryptocurrency Bitcoin has a limited emission of 21 million coins, which greatly cuts Bitcoin coin into pieces, and we see very uncomfortable quotes. Cryptocurrency Electroneum is limited to 21 billion coins, which makes it possible to use only two digits after a comma, just like in quotes of fiat currencies.

Mining cryptocurrency Electroneum is very simple and accessible, even people who do not possess powerful computers can do it. You can perform mining Electroneum even in the background mode of the computer. However, there is another distinctive point that is the following. Since Electroneum is designed for use by smartphones, its mining is possible via “handset”. I wonder, isn’t it? Imagine what would have happened if Bitcoin could be used on a smartphone.

Transaction speed cryptocurrency Electroneum it, too, its distinctive feature. In addition to speed, Electroneum transactions can be made directly between mobile applications or games.

Cryptocurrency Electroneum – plans for the future

The money that Electroneum was able to attract with the help of crowd funding will be used to promote the brand in social networks, for the introduction of online stores and mobile applications, as well as to create attractive users and businesspersons of brand. To make the project even more successful, the development team wants to release its software for game consoles. In the plans of developers and localization of software for more than 30 countries of the world.

Prospects cryptocurrency Electroneum (ETN)

Given the fact that around 2 billion smartphones are used in the world, it opens up a huge field for the project to work with such goals as Electroneum. If developers can implement all the planned plans, among which the creation of cooperation with such titans companies as the Google and Facebook, the growth of the cost of Electroneum will be inevitable.

Chart and Price Electroneum (ETN)

We present to your attention the Odyssey chart, which depicts the ETN rate to Bitcoin.


In the end, i would like to note that the capitalization of the Electroneum project is unknown, so at least it shows the Coinmarketcap rating. The cost of one coin Electroneum, which carries the ticker ETN, is equal to 3 cents. On this note, we will finish the review of cryptocurrency Electroneum, but in the end let’s say that we will spend a few tens of dollars that buy ETN on the exchange Cryptopia.


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