What is Electroneum? Electroneum (ETN) is a blockchain project that works as a means of payment for mobile devices. In this article, you can find answers to questions such as what is Electroneum, how does it work, what are its advantages and disadvantages, what is ETN and how to get it. As Kriptokoin.com, we have prepared it for our curious readers. Let’s examine the project together.
What is Electroneum?
UK-based Blockchain project Electroneum works as a means of payment for mobile devices. An average of 1 billion adult people in the world do not have any bank accounts. Electroneum sets this 1 billion people as its target audience. Accordingly, the project makes it possible to transfer and exchange assets quickly and securely in exchange for minimal transaction fees. Users can make instant payments and move their assets to other accounts in a fast and secure way via Blockchain technology. In addition, the project has agreements with 3 telecom operators in our country.
Electroneum is managed by SiteWizard co-founder Richard Ells and has a core staff of 12. Due to its fast and affordable prices, it appeals to institutional investors as well as individual customers. The platform can only be used through applications on mobile devices. In addition, it offers support for more than 20 languages and is spreading rapidly around the world. The Electroneum app has over 3 million downloads at the time of writing. The project can be described as the Blockchain version of PayPal.
What is an ETN? What does it do?
As we mentioned earlier, ETN is the native cryptocurrency of the Electroneum project. But the special thing about ETN is that it is the only non-Government-led cryptocurrency in the blockchain space. Electroneum uses the Proof-of-Responsibility mechanism of Monero, a privacy-focused Blockchain network. In this way, users can perform ETN mining by verifying transactions. In addition, the Electroneum project has eliminated the need for powerful computers required for mining on most networks. With the platform, users can mine with their mobile devices and earn tokens in exchange for the energy of a lightbulb.
How to get ETN?
The primary way to buy ETN is to become a member of a cryptocurrency exchange. First of all, you need to find an exchange where the token is listed. ETN is currently traded on KuCoin, Huobi, HitBTC, CoinEX and Finexbox exchanges. Interested investors can become a member of one of these exchanges and buy crypto money by loading an asset suitable for ETN parities in their wallets.
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