Electroneum (ETN) Project Review

What is Electroneum (ETN)?

Electroneum (ETN) is a mobile-based cryptocurrency that was launched on the 2nd of November, 2017. It was designed with the aim of simplifying the process of mining and transacting cryptocurrencies to serve the everyday user. The Electroneum project was developed by a team of software developers and technologists led by Richard Ells, who is also the founder of Retortal Ltd, a digital social media promotion platform.

The primary vision of the Electroneum project is to create a cryptocurrency that is accessible and easy to use for the average individual, without the need for specialized knowledge or equipment. By making cryptocurrency accessible to millions of smartphone users around the world, Electroneum seeks to accelerate the adoption of cryptocurrencies and blockchain technology.

Using the Electroneum smartphone app, users can mine ETN tokens and then use them to pay for various goods and services. The Electroneum app also allows users to manage their wallet, send and receive ETNs, and more.

The Team and the Launch

The Electroneum project was launched by a team of experienced software developers and technologists. The team is led by Richard Ells, who has a wealth of experience in the digital industry. He is the founder of Retortal Ltd, a digital social media promotion platform that has worked with global corporations such as Herbalife and Avon.

Electroneum was officially launched on the 2nd of November 2017, following a successful Initial Coin Offering (ICO) where the project raised about $40 million. The ICO was one of the largest at the time, with over 120,000 contributors.

Electroneum (ETN) Use Cases

One of the main use cases of Electroneum (ETN) is for mobile payments. Electroneum's mobile app allows users to send and receive ETNs instantly with just the click of a button. This makes it an excellent choice for everyday transactions.

Mobile Mining

Electroneum introduced a new concept in the cryptocurrency world known as mobile mining. With the Electroneum app, users can mine ETN tokens directly from their smartphones. This feature was designed to encourage mass adoption of the cryptocurrency, as it does not require any specialized equipment or technical knowledge.

Digital Payments

Another significant use case of Electroneum is for digital payments. Businesses can integrate the Electroneum API into their platforms, allowing them to accept ETN as payment for their goods or services. This not only provides businesses with a new method of receiving payments but also exposes them to a new market of cryptocurrency users.

Financial Inclusion

Due to its mobile-centric approach, Electroneum also has the potential to serve as a financial inclusion tool, particularly in developing countries where there is limited access to traditional banking services. By providing an accessible and easy-to-use platform for transacting and saving, Electroneum could potentially help millions of unbanked individuals gain access to financial services.

In conclusion, Electroneum is a unique project in the cryptocurrency world that aims to make digital currencies accessible and usable for everyone. With its mobile-centric approach and user-friendly app, it has the potential to drive mass adoption of cryptocurrencies. Furthermore, its use cases, such as mobile mining, digital payments, and financial inclusion, make it a promising project in the digital currency space.

How to Buy Electroneum (ETN)?

Buying Electroneum (ETN) is a process that involves a few steps. This guide will walk you through the process using Huobi, a popular cryptocurrency exchange.

Create an Account on Huobi

The first step towards buying Electroneum is to create an account on Huobi. Navigate to the Huobi homepage and click on 'Sign Up'. You'll need to provide an email address and create a secure password. Make sure to use a unique password to help protect your account.

Verify Your Account

After signing up, you'll need to verify your account. Huobi will send you a verification email to the address you provided. Open this email and click on the verification link to confirm your account.

Secure Your Account

Next, secure your account by setting up two-factor authentication (2FA). This will require you to download an app like Google Authenticator on your smartphone. Once downloaded, you'll need to scan a QR code provided by Huobi to link your account to the app. This adds an extra layer of security to your account.

Deposit Fiat or Cryptocurrency

Once your account is set up and secure, you can deposit funds. Huobi accepts deposits in various cryptocurrencies and fiat currencies. Depending on your preference, you can transfer cryptocurrency from an existing wallet or deposit fiat currency from your bank account.

Buy Electroneum (ETN)

With funds in your account, you are now ready to buy Electroneum. Navigate to the exchange section of Huobi and search for the ETN trading pair that matches your deposited currency. Enter the amount you wish to purchase and confirm the transaction.

Store Your ETN in a Secure Wallet

After purchasing, it is important to store your ETN securely. While you can keep it in your Huobi wallet, it is generally safer to transfer it to a secure wallet where you hold the private keys.

Best Wallets for ETN

When it comes to storing your newly purchased Electroneum, you have several wallet options.

1. Electroneum Mobile Wallet: The official Electroneum mobile wallet is available for both iOS and Android devices. It offers a simple and intuitive interface, making it a great choice for beginners.

2. Ledger Nano S: This hardware wallet is one of the most secure options for storing cryptocurrencies. It supports a wide range of cryptocurrencies, including ETN.

3. Trust Wallet: Trust Wallet is a multi-currency wallet that provides a good balance between security and usability. It supports ETN among many other cryptocurrencies.

4. Coinomi: Coinomi is a popular mobile wallet that supports a wide range of cryptocurrencies. It provides a good combination of security, ease-of-use, and features.

Remember, the security of your cryptocurrencies is ultimately your responsibility. Always use secure wallets, keep your private keys private, and be vigilant against phishing attempts.

For a more detailed guide on how to buy ETN, you can visit this link.

Electroneum (ETN) Tokenomics

Electroneum (ETN) is a cryptocurrency that has been gaining considerable attention in the crypto space. A key factor that has contributed to this growing interest is its tokenomics. Tokenomics refers to the study of the economic systems that drive the cryptocurrency market. In this section, we will delve into the tokenomics of Electroneum.

Circulating Supply

The circulating supply of a cryptocurrency refers to the number of coins that are circulating in the market and are in public hands. As of now, the circulating supply of Electroneum is 17952128040 ETN. This figure essentially shows how many ETN are currently available for trading or selling on the open market.

Max Supply

The maximum supply of a cryptocurrency is the total number of coins that will ever exist in the lifetime of the cryptocurrency. For Electroneum, the max supply is capped at 21000000000 ETN. This is the absolute limit and no more ETN will ever be produced or mined once this limit is reached. This built-in scarcity is a key feature of many cryptocurrencies and is often seen as a countermeasure to inflation.

Total Supply

The total supply is the total amount of coins in existence right now (minus any coins that have been verifiably burned). The total supply of Electroneum is currently 17952128040 ETN. This figure includes all ETN that have ever been mined (or otherwise created) minus any ETN that were burned (or otherwise destroyed), but includes ETN that are locked in some way.

Outstanding Supply

The Outstanding Supply, also known as supply not yet issued, is the amount of a cryptocurrency that is not yet available for public circulation. For Electroneum, the outstanding supply is 15% of the total supply. This percentage signifies the amount of ETN that is yet to be mined or released into the market.

How to Find More Electroneum (ETN) News

In the ever-evolving world of cryptocurrency, staying updated with the latest news and developments is crucial. Here is where you can find more news and updates about Electroneum (ETN).

Electroneum Website

The official Electroneum website is a primary source for first-hand information about the cryptocurrency. The site provides a comprehensive overview of Electroneum, including its features, updates, roadmap, and more. You can also find blog posts and press releases that offer in-depth insights into the latest happenings surrounding ETN.

Electroneum Twitter

Social media platforms like Twitter have become a key source of real-time information in the crypto space. The official Electroneum Twitter account is a reliable source for the most recent news, updates, and announcements about Electroneum. The account frequently tweets about new partnerships, network updates, and market trends.

Electroneum Reddit

Reddit is yet another platform where active discussions about various cryptocurrencies happen. The official Electroneum subreddit is a community-driven forum where users can discuss, debate and share news about ETN. It's a great place to interact with other Electroneum enthusiasts and stay on top of the latest ETN news and discussions.