Electroneum (ETN) 2018-05-02T03:57:13+00:00

Electroneum (ETN)

Project Description

Purpose
ETN is a cryptocurrency that was built using the same blockchain core technology that Monero uses. It uses CryptoNote and ring signatures to make transactions private and untraceable. It has been specifically designed for mobile users, delivering a real alternative to the existing complicated and elitist structures of the cryptocurrency markets.
 
ETN makes it easy for everyone to accumulate, spend or exchange crypto currency, and, by simply downloading a mobile app, users can also earn additional coins by just running background activity.
 
ETN easily engages users by using utility pricing that users feel familiar with 0.01 transactional increments compared to 0.000001 used by other cryptocurrencies.
Essentially, ETN truly delivers for anyone, anywhere, who wants instant access to their own digital currency, with an easy route to transact and to earn using just their mobile phone.
 
Strengths
– It allows users to ” mine ” with their smartphones for rewards
– Easier to use because ETN are limited to 2 decimals instead of 8
– Private and untraceable transactions
Weaknesses
– Only available on one small exchange, Cryptopia
– When using your smartphone, you only do a centralized simulation of mining that is not really used for the overall Proof-of-Work consensus
– 12.6 billion coins were premined (out of 21 billion total supply). 6.1 billion of those will be given as rewards for mobile “mining”
– If the network and the value of its token was to grow significantly, having a 2 decimals limit could impose high minimum transaction costs
Network Status
 
The Electroneum network is up.
Roadmap
Electroneum plans to launch with commercial partners already engaged, build further commercial, partnerships, rollout mobile mining and expand into further exchanges in the near future.
Governance
Electroneum uses a Proof-of-Work consensus protocol. Users vote for the right order of the transactions, for enabling new features in the protocol and for the honest money supply distribution. Therefore, it is important that during the voting process all participant have equal voting rights. Electroneum’s CryptoNote brings the equality with an egalitarian proof-of-work pricing function, which is perfectly suitable for ordinary PCs. It utilizes built-in CPU instructions, which are very hard and too expensive to implement in special purpose devices or fast memory on-chip devices with low latency.
 
They propose a new memory-bound algorithm for the proof-of-work pricing function. It relies on random access to a slow memory and emphasizes latency dependence. As opposed to scrypt, every new block (64 bytes in length) depends on all the previous blocks. As a result, a hypothetical “memory-saver” should increase his calculation speed exponentially.
 
Similarities
Electroneum is similar to Monero since they both use the same privacy technologies.
Notable partnerships
Electroneum is partnered with Effortel and FanFare.
Exchange
ETN is only traded on Cryptopia.
Stack
Electroneum is a blockchain layer.
Community
Reddit: 14 367 subscribers Twitter: 93.9k followers
Price history
Feb-8-2018: 0.0698 USD Dec-2017: 0.0435 USD Nov-2017: 0.0944 USD
P.S. Sign here for our daily publications!
 
This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations

Leave A Comment