In 2019, we saw Electroneum taking the cryptocurrency market by storm, as it garnered a massive fan following, due to its low price per coin, ease of use and wide availability. Although not as prominent as Bitcoin or Ethereum yet, Electroneum is well loved due to its offbeat technology and products. Its thoughtful ideals also aim to bring people together and improve quality of life everywhere.
More than $30000 of ETN mobile recharges and top-ups in Brazil
Electroneum is one of the first few cryptocurrencies which have been lucky enough to get a footing into the ruthlessly competitive market of mobile recharge. With its recent penetration and massive success of more than $30,000 in the Brazilian top-up market, Electroneum has become the pioneer for cryptocurrency mobile recharges worldwide.
Electroneum Forays Into The African Market
In keeping with its dynamic new reputation of pioneer and first mover, Electroneum has successfully penetrated the African mobile network and top-up market. With this brilliantly planned move, it has tapped into the enormous potential and opportunities the continent offers to those who are willing to invest in it. Currently, ETN users in Tanzania, Nigeria, South Africa and Uganda will be able recharge their mobile phones using the cryptocurrency. This is in addition to its other markets of Turkey and Brazil. Electroneum plans to spread out across the massive continent very soon.
Electroneum Adds New NGO Transaction Validators
Most cryptocurrency producers nowadays are striving to be as socially and environmentally conscious as possible. Electroneum is working towards ensuring that it betters lives, makes money more accessible and easy to use, and most essentially, transforms the opportunities for revenue. In this journey, it has made sure to enlist the help of some very special NGOs as transaction validators, namely the WONDER Foundation, Ubuntu Pathways, and Project Child. These NGOs protect, support and empower women, to make sure that they have their own incomes and achieve their potentials. They also look after underprivileged children and their families and provide them with necessities, and above all, quality education.
Electroneum Introduces The Proof-Of-Responsibility Protocol
Recently, Electroneum was the first cryptocurrency which made history, by moving from the traditional proof-of-work system, to introduce the revolutionary proof-of-responsibility system. This will be a decentralized network of global institutions, mainly from developing nations. POR will firstly ensure that block rewards get slashed by 75%, and will allow Electroneum to overhaul their entire mining system. New miners will be chosen very carefully, with NGOs from developing nations being the primary miners. This will hopefully set an example for other cryptocurrencies and turn into a huge movement, encouraging more developing nations to participate in the cryptocurrency market.
Electroneum Introduces The Moderated Blockchain
The amount of energy, infrastructure and resources needed to mine cryptocurrency is absolutely massive, for most cryptocurrencies. This is usually balanced by the rewards per block. However, this is also the reason why events such as the Bitcoin halvings see a huge reduction in miners, when they decide that the enormous investment into the process is not yielding quite as much reward. Needless to say, this also takes a heavy toll on the environment, and has already received a lot of backlash. To counter this energy intensive process, Electroneum blockchain coders have introduced its moderated blockchain, which reduces the energy needed to mine new coins to simple a few lightbulbs’ worth. This could turn out to be a revolutionary technology, soon to be adopted by other cryptocurrencies worldwide.
Must Read: Bitcoin Halving 2020: Boom or Bust?
Electroneum Price Analysis
Electroneum has been doing exceptionally well over the past week. Last week saw a high of $0.0037 per coin, on the 29th December and a low of $0.0034 per coin on the 1st January. Unlike most other cryptocurrencies, there were no steep highs or crashes, with the price per coin remaining at a steady average of $0.0035, a very attractive price for investors. With a market cap of over $35 million, last week Electroneum also closed at $0.0035 per coin.