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Electroneum (ETN): The hidden gem of crypto markets

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Electroneum

Electroneum is a very peculiar blockchain and currency (ETN) which is currently ranked at 108 with a modest 47 million USD in market capitalization. Electroneum doesn’t get a lot of attention from the average crypto-enthusiasts but maybe it should because it’s probably the one coin that is aimed more clearly and strongly towards mass adoption instead of wealth storage or speculative investments. These numbers do not seem very impressive for sure, but this is an asset that has been around for fewer than eleven months so far, and it’s managed to survive at a time in which every cryptocurrency has had a tough time.

The first unique feature in Electroneum is that it’s designed from scratch to be 100% mobile. It’s meant to be used and carried in mobile phones, and even the mining is done in cell phones, tablets and other portable devices using an app you can download from the usual two sites from Apple and Google.

The project aims to achieve global mass adoption by providing tangible, cheap, safe and easy to use technologies from any cell phone in the world that runs the app which became available last March and it’s available in twenty languages if your phone is compatible.

Let’s dig deeper into Electoneum’s goals.

Enablement currency

They coined this phrase. This project wants to create a currency that available for use, and that’s so easy to use that you don’t need to be a crypto enthusiast (which usually means a high degree of literacy in digital technologies) thus turning the 350 millions of mobile users in the world in potential users. The organization claims 1.6 million users so far, and they boast to be growing virally at faster rates than Facebook and Twitter.

Instant Cryptocurrency Payments

Another problem Electroneum wants to solve is instant cryptocurrency payments. At this stage, all payments must be settled by using ETC (the project’s own token) which somehow limits its usefulness. The project claims to be almost ready to release a global payment system based on a worldwide patent (that is still pending) developed by them. 

The plan is to have their users mine some ETN every day so that they can have coins to spend. Then, the next step is to make it very easy to integrate into ETN payment systems so that those tokens can be accepted instantly.

Convenient mining process

If you’ve ever tried to mine any cryptocurrency (most famously Bitcoin) then you know that becoming a miner is exceedingly hard as it takes expertise, and lots of resources (energy, hardware, fast internet speeds). Electronium’s idea is to be the opposite. This is the only digital asset that you can mine by just installing an app. That’s it, that’s enough for your phone to get you a small amount of ETN every day.

The idea behind this economic model is to gain adoption quickly, primarily by users that would never be interested in entering the arcane world of crypto and mastering the more delicate points in mining, blockchains, decentralized networks, etc.

The token is at $0.006 as I write this article and some enthusiasts expect it to go as high as a dollar sometime soon.

Electroneum is a very original and well-thought project that aims to become really useful as quickly as digitally possible. As such, is worth it to pay some attention to it because, in the end, the best assets will be those that do solve real-life problems.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy Thomas Young on Unsplash

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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