#ELECTRUM CRYPTO ANDROID#

The goal of the PoR network is threefold: to provide a safer, more responsible, and greener blockchain. How Is the Electroneum Network Secured?Д®lectroneum uses a new, unique algorithm which is called proof-of-responsibility (PoR). This, in addition to the mobile mining app, are the two ways new coins are created on the Electroneum network.

Hash rates are reduced from Giga hashes to less than half a kilo hash on the network, as Electroneum embarks on a journey to eco-friendly crypto mining. Miners who are picked on ElectroneumвЂ™s PoR are expected to spend the block rewards they receive responsibly in helping those less fortunate in harmony with ElectroneumвЂ™s humanitarian agenda and also to maintain the integrity of the payment network.Д®lectroneumвЂ™s proof-of-responsibility also reduces the amount of energy required for the mining process. This is done to ensure that there are only reliable miners in the Electroneum network. Since migrating to its own blockchain, based on the proof-of-responsibility architecture, miners have been hand-picked by the project. Currently, there are 10,229,924,760 ETN coins in circulation which represents 49% of all the coins there will ever be. How Many Electroneum (ETN) Coins Are There in Circulation?Д®lectroneumвЂ™s total and circulating supply is limited by the company, and will never exceed 21,000,000,000 coins. Electroneum effectively removed the need for expensive, dedicated, power-hungry mining devices, when it launched the first вЂњminingвЂќ app in March 2018. The goal of Electroneum is to reach out to the millions who do not have access to a banking system but own a smartphone like PayPal, but with cryptocurrencies.Д®lectroneum takes a unique approach from other cryptocurrencies, even in mining. Electroneum has focused largely on bringing cryptos an easily accessible option, smartphones. While the primary objective of Electroneum isnвЂ™t very different from what many other crypto projects offer, it goes about it in a unique fashion. However, things soon changed and Electroneum turned its sight to creating a platform for instant payments across borders.Д®lectroneum migrated from the Monero blockchain to the moderated proof-of-responsibility (PoR) blockchain in Q2 of 2019 to focus on delivering better payment services. What Makes Electroneum Unique?ДЄt its launch in 2017, Electroneum, which was originally built using the Monero codebase, focused on the gaming and gambling industry. In late 2019, Richard Ells, as CEO of Electroneum, founded and organized the launch of AnyTask, the first freelance platform to focus on creating a digital economy for the developing countries.ДЄlthough the platform is open to freelancers from all over the world, the emphasis is placed on the unbanked in developing countries, similar to other products launched by Electroneum. He is also the owner of Retortal, a social media management platform designed for businesses in the direct selling industry, and SiteWizard, a digital agency which he co-founded and still serves as a director to date. Before his foray into the crypto industry, Richard Ells worked as an entrepreneurial marketeer while harboring his desire to become a coder.

The brains behind the Electroneum project is Richard Ells. In April of the same year, it secured a patent for instant crypto transactions.

#ELECTRUM CRYPTO ANDROID#

In March 2018, Electroneum launched the first Android mobile вЂњminingвЂќ application where people could take advantage of the processors of their device to mine ETN coins. The focus of the Electroneum project is to provide the quickest and safest crypto transaction with minimal fees for the worldвЂ™s unbanked population, which accounts for a billion of the worldвЂ™s population.Д¬ontinuing its focus on giving individuals with only access to smartphones a cheap and easy way to spend money all over the world, Electroneum launched its wallet manager in December 2017. The project was formed in July 2017 and launched in September 2017 as the first U.K.-based cryptocurrency after completing a $40 million ICO. Electroneum is a mobile-phone-based crypto platform that offers an instant payment system.

Electrum crypto