Electroneum is one of the few projects that focuses exclusively on mobile users, providing them with unhindered access to cryptocurrencies and allowing them to earn them easily.
What is Electroneum? What are the advantages of this cryptocurrency? What sectors does the project target? Is it worth investing in? We’ll figure it out!
Electroneum history
In early 2015, British internet entrepreneur Richard Ells concluded that the world needed an easy and secure way to buy cryptocurrency using smartphones. He assembled a team of engineers, developers, and marketers and founded Electron. After some time, it turned out that a company with this name already exists, which entailed a forced rebranding to Electroneum.
In mid-2016, the Cryptonote algorithm was used to develop its blockchain and cryptocurrency with the ETN ticker, which is very different from all the others. It had a fraction of 1/100 (0.99 ETN). According to Ells, this option will be better perceived by users than the traditional fractionality of the same bitcoin (0.987654321 BTC).
In October 2017, Electroneum launched an ICO, during which it turned out to attract an immodest $ 40 million in investments in just 28 days, which was more than enough to implement their ideas. The total ETN supply is 21 billion coins. Almost immediately after the ICO, a beta version of the mobile platform was released, which allowed ordinary smartphone users to mine and store ETN tokens.
In simple words, the user downloads the Electroneum app, installs the software miner, and mines coins in the background.
Since Electroneum is based on the same algorithm as Monero, users of the application do not have to worry about the privacy and anonymity of transactions. The network automatically creates a unique one-time key for each transaction, which does not allow tracing history. This is the undeniable advantage that gives Electroneum the status of an anonymous cryptocurrency.
Applications for Electroneum
In most cases, ETN is used as a means of payment, but Richard Ells is keen to integrate his solution into the entertainment industry.
According to Electronic Arts, nearly 70% of all gamers stop playing three months after downloading a game. For example, MMORPG games lose gamers altogether in a month. The Electroneum team offers gamers a unique opportunity – to transfer money earned in the game to other games or withdraw it from the real world. Yes, this is an ambitious task that will take many years to complete.
In the long term, Electroneum will focus on digital content and gambling as well.
Where to buy and store ETN?
Even though the cryptocurrency is placed in 102nd place in the Coinmarketcap rating, the number of crypto exchanges that support it is limited. ETN is listed on Cryptopia, Kucoin, Qryptos, Bitbns, TradeOgre, and Cryptohub. From this list, I can only recommend Kucoin, since all the others are niche platforms that I have not used.
ETN can be stored on the official Electroneum wallet, available both as a desktop program and as a mobile application. You can download it right now from the Play Market or App Store.
Should you invest in Electroneum?
At the moment, Electroneum is entering into partnerships with members of the gaming industry, working on a brand, and continuing to launch various marketing campaigns to increase awareness in the crypto space. If the development team completes the development of their product and integrates it into at least a few mobile games, then only then can the price of the ETN coin be predicted.
Electroneum is an extremely speculative asset, so you can invest, but carefully and no more than 3-5% of the total amount of your crypto portfolio!
