With an Initial Coin Offering sale of up to $50 million, this mobile based cryptocurrency known to the world as Electroneum has started to rise among the ranks. Today, it has a market cap of up to $160 million and at its peak, a market cap of $1 billion dollars. It has also been listed in various crypto exchange sites such as Kucoin, CoinMaketCap,etc.
So what makes Electroneum stand out?
Mined without actually mining
On the Electroneum wallet app which is available on Google Playstore, there is a mining service on the app. Since cyptocurrencies not recommended to be mined on your mobile device due to high battery consumption and overheating, Electroneum will not use any hashrate to mine Electroneum but will reward you Electroneum according to the hashrate of your phone and the time spent "mining". This is generally giving out free money as the battery and data consumption of the app is extremely low. This has caused highly popular, with over 1 million registered members and 100,000+ active miners every second.
Fast transactions
Electroneum has an lightning fast Blockchain confirmation time of just 2-3 minutes. This makes it much faster than Bitcoin which has a Blockchain confirmation time of 10 minutes. This makes transactions faster and less costly. Fast transactions eases the waiting time of cryptocurrency based stores, this saves both time and money.
Secure and private
Just like Bitcoin and other cryptocurrency, Electroneum also ensures its user's anonymity and privacy. At the same time it also emphasises transparency by broadcasting transactions on the Blockchain (Does not reveal true identity). It is also decentralised and is not controlled by any authority.
In conclusion, Electroneum has great potential and is quickly rising through the ranks among cryptocurrencies. I urge investors to be on a lookout for Electroneum which although is relatively new (Created in November 2017) could potentially become one of the top cryptocurrencies in the future.
