Electroneum (ETN) Cryptocurrency Blockchain Project Turns 1, Celebrates Its First Birthday

2018-11-20 03:31

This November 15th had marked the first anniversary of Electroneum (ETN). In this year the currency had a meteoric rise and currently is the 55th biggest cryptocurrency with a market cap of $95 million and a 24-hour trading volume of $563,180. Their rise was so sudden that just within two months of their launch, their market cap was approaching $1billion market cap.

Electroneum has coined the phrase ‘enablement currency' as it is going to enable a new 3 trillion dollar market (Price Waterhouse Coopers predicts this market to be as large as USD 3 trillion in their 2017 Global Fintech Report) by allowing over 350m smartphone users in the developing world to enter the digital market for the first time. They have a global patent pending on a technology that allows instant cryptocurrency payments. Instant payments will initially be in ETN but the patent also covers Bitcoin and other cryptocurrencies.

The ability to spend ETN instantly is only half the equation. Additionally, they are developing an API that will allow easy integration to accept ETN instantly. This means it will be simple to allow an e-commerce system to give instant check out, and even allow easy integration into ePOS systems.

Their economic model enables them to inject small amounts of ETN into the hands of the smartphone user. This makes it easier for the user to try making real-world digital payments, often for their first time. Their Android app is already fully operational in 20 languages.

Timeline of Electroneum In July 2017, Electroneum Ltd is formed and officially takes control of the Electroneum project. On September 14th, 2017, ICO opens and is set to run until 1st November 2017. ETN Priced at $0.01c (USD) 20th October 2017, ICO closes early due to reaching $40m hard cap. 1st November 2017 HackerOne (US Dept. Defence) engaged to audit Electroneum's security. 12th December 2017 Agreement signed with Hong Kong Joy Telecom Co., Limited increasing total potential reach by 2m users. 13th December 2017 Electroneum's wallet manager officially launched an Android app released in 20 languages. 9th January 2018 Agreement signed with Xius taking mobile user reach to 65m users. 11th January 2018 Ask the community for BETA testers for a mobile miner. 45,000 detailed applications in 72 hours. Launched BETA Android mobile miner. 17th January 2018 First cryptocurrency to join the GSMA as a member. Invited to appear at Mobile World Congress 2018 in Barcelona. 18th January 2018 Signed Agreements with Effortel (5m user reach), Fanfare (1m user reach) and BMedia (20m user reach) bringing the total user reach to 91m users. 19th January 2018 HitBTC (top 10 global exchange) confirm will be listing Electroneum. 22nd January 2018 765,000 live ETN users. Over $750m (USD) of ETN traded in first 40 days. 31st January 2018 Mobile miner app enabled for 20,000 beta testers. Agreement signed with redONE increasing total potential reach by 1m users. 7th February 2018 Agreement signed with WEBS AND APPS SDN BHD increasing total potential reach by 3m users. 23rd February 2018 Agreement signed with Unified taking mobile user reach to 130m users. 27th February 2018 Rich joining a panel discussion at Mobile World Congress 2018 Barcelona. 5th March 2018 Android Mobile Miner launched. 13th March 2018 ETN listed on KuCoin. 16th March 2018 ETN listed on Bitbns and CoinSpot (Ability to trade in fiat currency). 6th April 2018 Instant cryptocurrency payments patent pending secured (1805708.3). 29th May 2018 1.5 Million Registered Users. 30th May 2018 ETN upgrades blockchain network to handle larger volumes of transactions. 7th June 2018 Film crew at the office making a new documentary about cryptocurrencies. 12th June 2018 Richard speaks at BCI Summit New York. 15th June 2018 Agreement signed with Mobile Streams to promote the use of ETN on their Mobile gaming service.

In the near future, Electroneum has ambitions to reach 3 million live users, launch an instant payment system, launch vendor API, Community app and a gig economy website.

It is currently being traded at $0.011 according to CoinMarketCap.

Conclusion

In the near future, Electroneum has ambitions to reach 3 million live users, launch an instant payment system, launch vendor API, Community app and a gig economy website.

It is currently being traded at $0.011 according to CoinMarketCap

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