What is Electroneum? A beginner’s guide
Are you looking for a newer crypto token you can invest in? Electroneum is one of the investments you can consider, from simplicity to user-friendliness and anonymous swapping. This article compiles all you need to know- find out!
What is Electroneum?
Electroneum is the first British digital currency created to support the online gambling and mobile gaming market. The Electeoneum coin was introduced to the market by Richard Ells on 14th September 2017 via the Initial Coin Offering (ICO). This ETN token is also abbreviated as ETN. Electroneum is a user-friendly cryptocurrency worldwide since it features coin mining and wallet management in a mobile application. In addition, it supports faster and anonymous transactions.
However, it has built-in features like the Monero currency, making it hard for someone to trace a transaction or the exact balance in a crypto wallet. For instance, if you swap etn to btc, the transaction cannot be visible on a public blockchain.
Instead, Electroneum has a stealth address, a single-use public key that enables receivers and senders to receive and send money without being noticed on a public record. In this way, the blockchain records the transaction like 0.1 bnb to eur, but it prevents the investors from seeing the recipient, sender, and the total amount transacted. This method keeps everything private, and as an investor, you are assured that your transaction history is safe.
The Elecroneum mobile app
Elecroneum’s mobile app allows you to simultaneously access your digital wallet and send or receive the Electroneum tokens. When in need of extra security, Electroneum mobile app allows the alternative of creating an offline paper wallet. Then, ensure you spread out your tokens across many paper wallets just in case one gets lost.
This mobile app awards anyone who shares knowledge about Electroneum to the community, as well as the world. If you refer a minimum of five people to the app, you are entered into a contest to win 5000 Electroneum tokens. However, you are not limited to a specific number of people you should invite. The more you invite many of them, the higher your chances of winning the prize. The invitees are also subject to win if they refer other people too.
Mobile mining
Electroneum permits its clients to use the mobile application in mining the currency, and fortunately, this leads to an increase in the adoption and the use of ETN. The application allows the central processing unit of your phone to take part in simulated mining. Therefore, your phone cannot overheat or have the battery drained by this technique. Also, note that the process does not consume a lot of your internet data. However, this mobile mining does not help confirm new blocks on the ETN ecosystem.
Online gaming
Electroneum has worked towards replacing in-game currencies like World of Warcraft. If a player completes sold items and quests, they receive Electroneum as a reward. The player can then convert the ETN to other cryptocurrencies. This way, they get encouraged to play more since they are entitled to real-life rewards for what they have accomplished in the in-games.
The cryptocurrency ecosystem is advancing to give investors a unique experience in their dealings. This is why the Electroneum blockchain has created a digital currency that you can easily access by downloading its mobile app.
