What Is Electroneum?
Electroneum is a cryptocurrency built on its own bitcoin-derived blockchain. The cryptocurrency claims to be the world's very first common cryptocurrency. The currency was constructed with the particular objective of catching the mobile video gaming and online gambling markets. It's designed with mobile-friendliness, fast transactions, and simple micropayments in mind. Electroneum's ICO is scheduled to start on September 14, 2017. In general, Electroneum claims to be a huge leap forward over its cryptocurrency competitors. It likewise claims to be a powerful financial investment chance that will probably increase in value. That's because Electroneum is developed for extensive common use and claims to provide "groundbreaking ease-of-use for the common mobile user." That all noises good-- but we've seen other cryptocurrencies make comparable claims. Let's take a better take a look at how Electroneum prepares to measure up to those promises. What Makes Electroneum Different? How is Electroneum different from the hundreds of other cryptocurrencies on the marketplace today? Why should you use Electroneum instead of bitcoin, Ethereum, or any altcoin? Here are a few of the unique selling points raised in the Electroneum whitepaper: The coin has an optimum total supply of 21 billion, "which will mean transactions have only 2 decimal locations and have a 'real cash' feel that bitcoin lacks. You understand how when you send out a percentage of bitcoin and it looks like "0.0001264"? Electroneum prepares to provide a more approachable, easy to understand deal quantity by having a total supply that's considerably higher than bitcoin (bitcoin has a predicted overall supply of 21 million). Electroneum wallets are developed to be quickly manageable on any mobile phone. Coins can be generated by an unique mobile miner running as a background activity on your gadget. The currency enables fast micro-transactions, and Electroneum can quickly be moved between different video games, apps, and users. Electroneum relies on its own purpose-built blockchain-- unlike lots of other cryptocurrencies, which are based upon existing blockchains like Ethereum. Electroneum's blockchain is based upon the initial bitcoin source code. The business has actually been developing the blockchain and cryptocurrency given that 2016. Who's Behind Electroneum? Electroneum's whitepaper explains the group as "a knowledgeable team of software designers." The group is led by Richard Ellis, who has 20+ years of experience running a digital firm called SiteWizard. In 2013, Ellis established Retortal. As CEO of Retortal, Ellis offers social networks marketing to various companies-- including Fortune 500 companies like Herbalife and Avon. Retortal is valued at over $50 million USD today, and the software is utilized daily by hundreds of thousands of individuals. The name of the currency and company, by the way, is stemmed from "the electron which all cryptocurrencies depend on."https://plus.google.com/+brandandwin/posts/9zQoAvCeFRb Electroneum supposedly began working on their own cryptocurrency back in August 2015. By July, the business had officially formed under the name Electroneum Ltd. and began actively promoting their approaching cryptocurrency. How Does Electroneum Work? Electroneum makes various discusses of it being a mobile-friendly currency. The developers of Electroneum acknowledge that the majority of the world has a smart phone-- and approximately 2 billion individuals own a mobile phone. Electroneum is based upon utilizing power from all smart devices to power the network. In addition, users can manage all aspects of Electroneum from their mobile wallet. Usually, cryptocurrencies are mined with specialist devices-- like PCs with numerous GPUs inside. Electroneum will allow users to mine the currency with the mobile app. The business will start by launching their iOS and Android app on October 31, 2017, one day after the token sale concludes. Electroneum prepares to have two digits after the decimal (it has a 21 billion total supply of coins compared to bitcoin's 21 million). That means you'll see a price labeled as something like "21.39 Electroneum" rather of "0.089151 BTC". Electroneum Products The developers of Electroneum claim to currently have many working items and platforms in place. They plan to launch all these products instantly after the ICO crowdsale. The products will go survive on October 31, one day after the crowdsale. The business declares these items provide Electroneum an excellent foundation for launch. They plan to raise cash through the ICO for an even more ambitious strategy. The Electroneum whitepaper details long-term goals for the cryptocurrency based on the amount raised. If Electroneum raises over $40 million, for example, then the company will introduce a whitelabeling system that allows other coins or ICOs to utilize the currency as a base while implementing their own branding. The Electroneum Crowdsale The Electroneum crowdsale starts on September 14. During the very first week, you'll be able to buy Electroneum at a 50% reward rate. An overall of 6.3 billion Electroneum coins will be readily available during the crowdsale. You can participate utilizing Ethereum, bitcoin, or bank transfer. Electroneum Conclusion https://twitter.com/electroneum Electroneum is a cryptocurrency built on the initial bitcoin blockchain. The company claims to have currently developed a large range of technical products-- including a mining system that can be ranged from your PC or smartphone to produce currency from your unused processing power. The Electroneum ICO is taking place throughout September and October. You might want to wait on more technical information about the task to appear online, or proof that any of the items have currently been developed. However, if you do not mind the threat, you can get benefits of up to 50% by participating in the Electroneum token sale early.
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