Electroneum is a brand new British cryptocurrency launching
via an Initial Coin Offering (ICO) on September 14th. Developed to be used in
the mobile gaming and online gambling markets, it will be the most
user-friendly cryptocurrency in the world with wallet management and coin
mining all possible on a mobile app.
via an Initial Coin Offering (ICO) on September 14th. Developed to be used in
the mobile gaming and online gambling markets, it will be the most
user-friendly cryptocurrency in the world with wallet management and coin
mining all possible on a mobile app.
It wasn’t so long ago that cryptocurrencies were something
that only a few tech-obsessed people understood or even knew about. But in the
last two years, things have changed – Bitcoin’s sudden increase in value meant
every tech-savvy entrepreneur and currency speculator wanted a piece of the
action.
that only a few tech-obsessed people understood or even knew about. But in the
last two years, things have changed – Bitcoin’s sudden increase in value meant
every tech-savvy entrepreneur and currency speculator wanted a piece of the
action.
Since then, the cryptocurrency market has become one of the
most exciting – and often lucrative – investment avenues in the world. Bitcoin
has remained incredibly valuable, but has seen its market share shrink as new
alternatives have sprung up. What hasn’t changed, though, is how difficult
these currencies are to get hold of and trade in, let alone spend anywhere.
most exciting – and often lucrative – investment avenues in the world. Bitcoin
has remained incredibly valuable, but has seen its market share shrink as new
alternatives have sprung up. What hasn’t changed, though, is how difficult
these currencies are to get hold of and trade in, let alone spend anywhere.
Electroneum is the first British-developed cryptocurrency
and represents a huge change of pace in the market. It’s built on its own
unique blockchain (a blockchain is the underlying technology infrastructure
beneath any cryptocurrency) and has been designed to dominate the mobile
market.
and represents a huge change of pace in the market. It’s built on its own
unique blockchain (a blockchain is the underlying technology infrastructure
beneath any cryptocurrency) and has been designed to dominate the mobile
market.
Firstly, it is incredibly easy to manage and even mine on a
mobile app. That means it’s capable of becoming the new, easy, secure way of
making instant transactions from your phone – from buying mobile games, to
sending money to friends, to betting on live sports. That sets it apart from
any other cryptocurrencies that are near-impossible to spend or buy.
mobile app. That means it’s capable of becoming the new, easy, secure way of
making instant transactions from your phone – from buying mobile games, to
sending money to friends, to betting on live sports. That sets it apart from
any other cryptocurrencies that are near-impossible to spend or buy.
Electroneum has also increased its palatability to the
average consumer by capping the total number of coins at 21 billion, moving the
decimal point two places to the right when compared to Bitcoin, which is capped
at 21 million. Whereas a pizza in Bitcoin might cost 0.005 BTC, with
Electroneum it would be a much more ‘real money’ figure.
average consumer by capping the total number of coins at 21 billion, moving the
decimal point two places to the right when compared to Bitcoin, which is capped
at 21 million. Whereas a pizza in Bitcoin might cost 0.005 BTC, with
Electroneum it would be a much more ‘real money’ figure.
Richard Ells, founder of Electroneum and experienced tech
entrepreneur, said: “I don’t know if you’ve ever tried buying any Bitcoin, but
it’s really hard to do! I realized that what the world needs is a
cryptocurrency that is genuinely easy to access and use. We’ve developed
Electroneum with the ordinary mobile user in mind.”
entrepreneur, said: “I don’t know if you’ve ever tried buying any Bitcoin, but
it’s really hard to do! I realized that what the world needs is a
cryptocurrency that is genuinely easy to access and use. We’ve developed
Electroneum with the ordinary mobile user in mind.”
The currency also represents an intriguing investment
opportunity for speculators. Cryptocurrency is well known to be a volatile, but
lucrative market for investors – in the first half of 2016, the average return
on investment for of 100 new coins launched was 357% – and Electroneum
represents such a technological change that it’s already attracting a lot of
attention in advance of the ICO in September.
opportunity for speculators. Cryptocurrency is well known to be a volatile, but
lucrative market for investors – in the first half of 2016, the average return
on investment for of 100 new coins launched was 357% – and Electroneum
represents such a technological change that it’s already attracting a lot of
attention in advance of the ICO in September.
Re-assuring investors is the fact that the currency was
developed and is managed by a tight-knit, single-minded group of British
developers and is therefore not likely to be subject to the internal wrangling
and volatility that has plagued other currencies.
developed and is managed by a tight-knit, single-minded group of British
developers and is therefore not likely to be subject to the internal wrangling
and volatility that has plagued other currencies.
Electroneum has produced an overview white paper of the
technology behind it. The company is currently raising funds to complete the
launch of the currency, and the coin itself will be available for purchase from
September 14th.
technology behind it. The company is currently raising funds to complete the
launch of the currency, and the coin itself will be available for purchase from
September 14th.
This article was fetched from Yahoo Finance.
