Electroneum - The story so far

Electroneum - The story so far


Hi

I have been a small investor in Electroneum since the ICO. I didnt cash out at the start when the price spiked because at that time I did not have a Cryptopia account and did not want to open one. However I eventually did and now I regret it as part of my ETN holding is locked because they went out of business after being hacked. I have listed below the milestones that I am aware of that Electroneum have achieved as a project.

(1) Mobile wallet to hold ETN with paper wallet generation to hold offline more securely. This started with Android version and eventually was approved by Apple for IOS. The delay in approval was relating to mobile mining on the app to get free ETN. When the project was able to set it up for cloud mining Apple allowed the app. to be released. The project are now publishing weekly stats of app downloads which goes into millions.

(2) Listing on many exchanges including Kucoin, Huobi, Liquid to name but a few. Binance seem to be rejecting Electroneum in their community vote despite the huge support from the ETN Community.

(3) Ability to use ETN to topup your mobile phone. This started small but is now available in hundreds of countries.

(4) ETN has set up Anytask and ETN Everywhere to allow sale of digital tasks and allow online retailers to advertise and sell their goods. This is expanding worldwide but especially in Africa, South America and Asia.

(5) The project changed their mining reward to proof of responsibility and used NGO's (Non Government Organisations) to reward them for helping to keep their blockchain going. 

(6) They produced reasonably priced mobile phones initially M1's and more recently M2's are being released with ETN branding.

(7) They have introduced utility bill topups in 4 African countries and this will expand to other countries and there are plans to expand this to payment for other services.

(8) They designed their own Instant payment system using QR codes to pay from one ETN wallet to another. This has been patented.

This is only a snapshot of some of the achievements of the project. The token price does not reflect this progress but with the mining reward reducing and mobile mining reward virtually phased out, plus mass advertising just started there is a lot of potential for growth and hopefully a more realistic token price.

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iansinc61
iansinc61

Not really a big reader but interested in crypto


My Cryptocurrency Journey (Part 1)
My Cryptocurrency Journey (Part 1)

I started in cryptocurrency in June 2017 when the last bull run was in its final 6 months big run up (although I didnt realise that at the time). My portfolio of about £3000 had reached a total of approx £27000 but unfortunately I didnt cash out so this is presently (5/1/20) worth 50% of my original investment but I am hoping an upturn is underway and I will be back in a profit. I will in next part give some thoughts and tips for newbies (who dont intend to learn technical analysis and day trade).

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