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The Electroneum project

Mobile virtual currency

Electroneum is a virtual currency that uses its own blockchain derived from that of Bitcoin. It claims to be a mobile cryptocurrency. It is the very first British cryptocurrency. Electroneum has thus developed an application which offers a wallet but also mining functions from a smartphone. Note that the network still allows traditional mining on a computer.

The goal of Electroneum

The project aims to allow anyone to take advantage of cryptographic currencies without having the necessary technical background. Thanks to the mobile platform, mining and token exchange are accessible to all 2 billion smartphone users worldwide. The developers of Electroneum want cryptocurrencies to be widely adopted by the general public.

ETN tokens

Electroneum was funded through an ICO (Initial coin offering). This ICO has raised $ 40 million, by nearly 300,000 users. The supply limit for ETN tokens has been set at 21 billion. ETNs allow for quick micro-transactions and can be transferred via mobile games or apps. Tokens have the particularity of being able to be mined from a smartphone, in background activity. Transactions on the Electroneum network will only have two decimal places, approaching the financial transactions that we are used to carrying out with fiat money. On Bitcoin for example, transactions contain up to 8 decimal places.

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