Bringing Crypto to the Masses with Electroneum (ETN)

Electroneum aims to propel cryptocurrencies to the next level by making them more easily accessible to the masses. The purchase and use of digital currencies are largely shrouded in mystery and this platform proposes a novel way to demystify the industry. It has ease of access and user-friendliness as its core values while still offering privacy to its users.

This Monero offshoot offers maximum anonymity for its users just like its predecessor, using one-time public keys known as stealth addresses. Its blockchain does not keep a public record of transactions, concealing both the identity of the sender and recipient and the amount transacted. The project got off to a great start in 2017 when the ICO maxed out at $40 million before the proposed duration.

Electroneum Mobile Device App

Electroneum employs the use of a mobile device app as one of the key ways to offer increased accessibility to its users. The app has an intuitive user interface that offers access to users’ digital wallets and allows for transactions on the go. It also has an incentivization model whereby users who contribute to the community in any way get the opportunity to earn free Electroneum tokens (ETN).

Innovative Mining Model

But the greatest highlight of the mobile device app is that it has a mining feature incorporated. This feature makes use of a device CPU to simulate actual mining without draining the battery or overheating. The mining process differs from the standard process since it does not create new blocks. Instead, it is structured like a game to promote the platform and get more people to join it. But just like mining, there is a reward for the endeavor.

In the same vein, Electroneum allows for mining using basic CPUs instead of costly ASICs or GPUs. The algorithm used in the system’s design offers a flexible and simplified approach that allows users to get in on the hype with ease. Setting up is easy since all a miner needs to do is to download the relevant software from the official website and get started without any technical hurdles.

Online Gaming

One of the most popular spheres for cryptocurrency use is in online gaming and Electroneum is looking to shake things up in this industry. Instead of having gamers earn random god coins in their quests, the platform offers the opportunity to make ETN tokens. These can be converted to other digital currencies or even fiat, motivating gamers to play more and earn. The token will also allow for in-game purchases of outfits and weapons and it will even allow players to level up.

The Path to Mass Adoption

Electroneum is striving hard for mass adoption by creating utility for its ETN tokens. To this end, the team behind it has taken steps to secure partnership with telecommunications companies on a global scale. It is the first digital currency to get a GSMA membership and it has signed MOUs with other relevant players within the industry. Such moves will give it the wide accessibility and availability that the platform proposes as a part of its vision.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

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