Electroneum [ETN] is a cryptocurrency built on its own chain of blocks (blockchain) derived from the ”mother of all”, Bitcoin, claims to be the first common altcoin in the world, Electroneum is based on harnessing the power of all phones smart with an application to power the network, in addition, users can control all aspects from their wallet on the mobile, usually, cryptocurrencies are mined with specialized equipment, such as PC with multiple GPU inside, with ETN you will only need a phone mobile.
- An application based on the Wallet that allows you to access Electroneum easily.
- Mining-based application.
- Wallet without internet connection, you can create a completely safe, unreachable wallet and without connection.
- Software for the mining pool.
- Blockchain Explorer, this is to verify payments and examine the blockchain-open source
- API paid to third parties, will be used to allow third parties to accept Electroneum or pay with
- Electroneum, this is fundamental for implementation with the gaming industry.
And it is no wonder that this currency comes with a very innovative project, do not leave a
side that currently the world of cryptocurrencies has experienced a period of growth
The value that brings Electronuem is not technical but rather the possibility that more more users join the world of bitcoin, to be able to pay with the app.
This company aims to value millions of users to enter the world of cryptocurrencies thanks to the ease of use. Among other options -without being mandatory- you will have a game in which you will earn extra bitcoins. If you do not want to, you do not have to use it and keep leaving the application open by mining. What lies behind the system is the possibility of making this cryptocurrency viral from the incentive of winning by making people understand what the mining process is like, which will involve them more in this currency and reach a massive audience.
You can take advantage of the system by mining several phones or even using Koplayer virtual environments but the company will not allow the system to be deceived using -for example- 30 devices in a house, to name a specific case.
John McAfee, technological pioneer and main idealist of cybersecurity of MGT. He is very involved in the cryptocurrency community, so he is often right with his verdicts about these. In this case, consider Electroneum as an interesting bet.
In this regard indicates that “Electroneum facilitates access and use of a super secure cryptocurrency that has all the benefits of Bitcoin and more. The transactions in this system happen faster and are more anonymous, protecting the history and content of the wallet, while leaving transaction hashes publicly accessible so that they can technically authenticate themselves.
One of McAfee’s projects this year is to help the cryptocurrency market, so each week he publishes in his Twitter account, two cryptocurrencies that he considers the best for the moment.
In an interview he was asked certain questions regarding cryptocurrencies and their market boom. In the same way, they emphasized to find out what it was based on to give their forecasts.
McAfee informed that it is based on a theory created by the same, where it expresses what it tries to know if a cryptocurrency can become a good project or not, as well as if its value is adequate.
However, the most interesting part of this coin is that it will be made for mobile mining. In this sense, it is able to take advantage of the processing power of your phone and make it possible to extract tokens directly.
Initially, what he seeks is to know if a currency provides security and anonymity to its users, which is an elementary factor for him. Then, if it offers a service or a function that benefits someone, society, culture, or the digital community. Finally, if you have support from a chain that can be implemented.
The Road To Adoption
As the website says: “It’s common for cryptocurrencies to talk about seeking mass adoption. It’s far less common for them to make tangible progress towards that goal.”
Step 1: Finding the users
Electroneum aims for 10s or even 100s of millions of users and has a clearly defined route to market.
We have signed agreements in place giving access to over 100m smartphone users via mobile operators (the companies that provide airtime and data to your smartphone).
Electroneum is also the first cryptocurrency to secure membership of the GSMA as part of our strategy to expand via this sector.
The viral appeal of Electroneum is immense. When a user downloads the Electroneum app they can experience mining their first Electroneum coins straight into their wallet in minutes. By allowing users to earn a handful of ETN coins per month for just being part of the Electroneum community, we can quickly grow Electroneum to be the largest used cryptocurrency in the world.
Step 2: Allowing the users to spend their currency.
The key to mass adoption is to not just ensure people can access your currency. You must ensure the currency has utility.
Once users have Electroneum in their wallets they will start to want to experience spending cryptocurrency for the first time. That’s where the second benefit of our partnerships with mobile operators makes all the difference.
Our partners have agreed to begin the process of accepting Electroneum as payment from their customers. We are currently in negotiation with some enormous global brands who have expressed strong interest in adding Electroneum digital payments to the list of “ways to pay”.
We already have signed agreements in place to develop Electroneum payment integration for over 1.2 million agents, dealers and distributors in over 9 countries and have many more in negotiation.
As with all disruptive technology, the market’s entrepreneurial spirit will find ways to accept and use Electroneum as our numbers of users grow into the 10s of millions.
By making our currency available to millions of people, and allowing those people to spend our currency, we’re poised to take cryptocurrency further than it has ever been.