Electroneum (ETN) was the first ever British cryptocurrency coin to enter the market on April, 2013. It is quite a unique coin since it is based on a mobile application thus making it one of the simplest cryptocurrency to use.
Although it is based on a mobile app, mining can either be done through the mobile application or through a downloadable desktop program. The downloadable desktop program has an integrated wallet which can be used while offline.
Mining the cryptocurrency (Electroneum) through a mobile app is quite delicate and the platform had to be specifically designed in a way that it could allow CPU mining contrary to the normal ASIC mining with the rest of the cryptocurrencies. And even with that, users can still not mine a large number of ETNs on their phones.
With, the main challenge being to get users to invest in the coin, Electroneum offers a promotional mining so that new users can easily acquire coins.
So what are its special features?
For one, by the fact that it is based on a mobile application, it means people can easily download it from the app store. Also, by being usable on mobile device, it means you can use it on the go and you won’t have to stay in one location and especially in front of your computer all the day long.
It is usually like a mobile game where users get hooked purchasing in-game units which they can later exchange for fiat money. The only difference here being it is a kind of a mobile game but using blockchain technology.
How is Electroneum doing in the markets?
The value of Electroneum is mainly oscillating about $0.1 per token although in the past few weeks it has tested a new high of $0.229125.
From December, the currency seems to have assumed an upward trend which is abit week.
Future of Electroneum (ETN)
For now, there are not many users of Electroneum the main reason being that the cryptocurrency doesn’t have much of the features of a coin and thus people are yet to find its real value. However, the developers of the Electroneum network are working hard to ensure that the token assumes more coin-like features as well as a wider use so that its value can go up. If they manage to push the value up, they will certainly get more investors.
The main agenda of the development team to ensure that the cryptocurrency is accepted is various stores globally to be used to purchase goods and services. However, this is something they will achieve by and by considering even better performing coins are yet to achieve this.