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All You Need to Know About Electroneum

/, Electroneum/All You Need to Know About Electroneum

Electroneum, latest wave-making cryptocurrency in the market, is a British owned cryptocurrency recently launched on the 1st of November, 2017. The cryptocurrency, which was developed using its own unique blockchain, was designed specifically to target mobile gaming and online gambling platforms. It’s designed with mobile-friendliness, fast transactions, and easy micropayments in mind.

Using a decentralized blockchain, electroneum adopts a centralized viral marketing app that promotes the accumulation of cryptocurrency through a process referred to as “gamifying the experience.” The cryptocurrency aims to target the 2.2 billion mobile phone users by making the ease of access to the coin very easy through the use of a mobile application that contains all the necessary instruments for a hitch-free use of the cryptocurrency.

During the electroneum ICO, which lasted from September 14 through October 31, 6.3 billion electroneum coins were offered for sale. The cryptocurrency garnered over 220,000 contributors and up to 300,000 registered interests making it the record holder for the highest cryptocurrency ICO sales ever. The coin was sold at the price of $0.01 during the ICO and about $40,000,000 worth of tokens were sold during the ICO.

Electroneum was launched on the first of November, 2017 with the launch of its all-encompassing app which contains the wallet which you can also use to exchange your electroneum for other Cryptos like bitcoin and ethereum. The app also contains the means to mine electroneum. The app makes the ease of access to the cryptocurrency very simple and is perhaps why it is referred to as the cryptocurrency for everybody. Electroneum also provides an offline wallet inside the app which you can use to manage your electroneum tokens completely offline making it secure from prying eyes. You can create as many of these offline wallets as you like and transfer the bulk of your tokens to these wallets.

Electroneum has increased its attractiveness to the average individual by capping its max. total supply of coins at 21 billion. This makes it to have only two decimal places giving it a real money feel as opposed to bitcoin which has eight decimal places. So you get something like 15.47ETN instead of 0.00000325btc.

 

The Electroneum Team

Electroneum was developed by a team of software engineers led by Richard Ellis, co-founder of the successful digital agency sitewizard and founder of Retortal.com. He is an experienced tech entrepreneur who has a history of building successful digital businesses. Electroneum’s whitepaper describes the team as “a team of experienced software engineers”. The team includes a number of software developers, marketing experts and cyber security experts.

Electroneum reportedly started working on their own cryptocurrency back in August 2015. They used bitcoin’s open source code as the basis for the currency. The currency had no name for several months, but was eventually named Electron. By July, the company had officially formed under the name Electroneum Ltd.

The electroneum app is officially available on app store and you can now download and purchase electroneum through the app. You can also mine electroneum using the app.

In conclusion, electroneum is a cryptocurrency with a lot of potential mostly due to its ease of use and its wide target market of smartphone users. It has already met with mass acceptance from the public and there is little doubt it will continue to do so. It has a great team behind it who have got a solid track record of building successful companies. It also holds the record for the biggest ICO ever, a solid indication of the future successes it is going to enjoy.

While you shouldn’t sell your house and cars to invest in it, it does make sense for you to buy in to the great investment opportunity afforded by electroneum. You missed bitcoin, you shouldn’t miss this too.

For more Electroneum posts, check here.

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