Published on Feb 21, 2020
Electroneum is a cryptocurrency based on the CryptoNote hash algorithm and is based on the Monero Blockchain. It was founded by British Entrepreneur Richard Ells.
Electroneum was created primarily with the mobile markets around the world in mind, with its unique Mobile App which comes with simulated mining of Electroneum's Coin, ETN, allowing access to people who might be beginners when it comes to Cryptocurrency. wallet app
Electroneum (ETN) is a cryptocurrency intended to function as a digital currency. There is no real innovation behind ETN, but its purpose is to become accessible to all, and focus on mass adoption. Electroneum has developed a fast and private Blockchain, and is focusing on the gaming industry (but money can be integrated into many other industries).
Electroneum cryptocurrency is not very disruptive in terms of technology. The offer is also high (21 billion coins) and works with only 2 decimals, making it used as a currency for purchases similar to that of the Dollar (for example a coffee will cost 2 ETNs instead of 0.00015 BTC). Furthermore Electroneum uses an App for mobile that is easily usable on mobile phones.
The Electroneum team is led by Richard Ells, who has over 20 years of digital experience. In 2013 he founded Retortal’s, a social media management platform that is now valued at about $ 50 million. The rest of the team does not look like an all-star team at all: most people have no particular university merits, but they still do something good. Electroneum was one of the biggest ICOs of all time (by number of users). During the ICO there were 120 thousand contributors who invested a total of 40 million dollars and 300,000 people who registered for the Electroneum App. These figures are impressive and show us how much this team is capable of achieving mass.
The biggest difference between Electroneum coin and other cryptocurrencies is the approach to the market.
Electroneum (ETN) has managed to raise over $40 million from 120,000 contributors in just a few weeks. It was one of the most successful ICOs ever, and managed to create hype around its product, even before there was a product! This has led to a very loyal community (over 300,000 people who support Electroneum). Beyond that, the Electroneum team is very transparent to their community, including on important issues.
Electroneum had security problems when the ICO was terminated and therefore it was not possible to launch the App immediately. But they have been very clear about the problems and have hired Hackerone (one of the best computer security companies in the world) to make Electroneum 100% secure.
The price of Electroneum at the time of the ICO was about $ 0.01. Today it is around $0.152, with an increase of over 20% in the past 24 hours! Furthermore ETN was only available in one of the worst exchanges (Cryptopia)
