There are several ways to approach the creation of a valuable cryptocurrency. Bitcoin will remain the main cryptocurrency for a while, but things can always change. Electroneum has what it takes to compete with the best cryptocurrency in the world. This particular project certainly seems interesting enough to play an important role.
Unlike most other crypto-currencies in the world today, Electroneum focuses on the mobile ecosystem. It is positioned as a mobile cryptocurrency that is simple to use and powered by an application. Making cryptos more accessible will require a mobile strategy at some point. Even though Bitcoin and the other major currencies all have mobile wallets, Electroneum can bring something to the table that these other currencies can not currently provide.
According to its website, Electroneum has the benefits of Bitcoin and other assets, while providing more anonymity. In addition, its transaction speed is much higher. Given Bitcoin's recent speed and expense issues, Electroneum can be of great value to many people in the future. Users will see their transaction history and portfolio content protected from prying eyes. In addition, there is an option to provide publicly available transaction hashes. A mixture of intimacy and transparency seems to work quite well, at least on paper.
In addition, the developers of Electroneum are convinced that they will be able to provide offline portfolios that can not be hacked. Specifically, there will be an option to generate multiple offline portfolios, which will allow users to keep their funds safe at all times. Generating an offline portfolio needs to be done using an online platform, however, which raises a lot of privacy issues. So far, there have not been major issues with these portfolios offline, but it's still something to watch out for.
Other than that, there is not much that sets Electroneum apart from other cryptos. While the emphasis on optional transparency is important, it is not the first project to provide such functionality. It is obvious that there is a growing demand for privacy and anonymity in the world of cryptocurrency, and Bitcoin can not provide this functionality in its current form. The question of whether this is sufficient to justify the interest of Electroneum remains to be determined.
No cryptocurrency can afford to stay still. In the case of Electroneum, there is still a lot of work to be done to become a major cryptocurrency. The company has signed an agreement with XIUS, a giant of telecommunications and payments. However, there does not seem to be an official roadmap yet, which is rather disturbing. This does not mean that the team will not announce anything in the future, but for now, things are not so impressive. Electroneum's lack of communication is a major concern for investors; for sure.
