Electroneum — The World’s First Common Cryptocurrency

Johnfel Bacolor
Sep 22, 2017 · 7 min read
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Electroneum is the first UK based cryptocurrency launching an ICO this September 14, 2017 via an ICO (Initial Coin Offering). It is a new crptocurrency designed for the 2 Billion+ smartphone users.


Electroneum is a cryptocurrency named after the electron which all cryptocurrency rely on. It is the first cryptocurrency that’s designed around mobile ubiquity. Built on its own blockchain. Developed to be used in the mobile gaming and online gambling market.

Electroneum has been developed to allow anyone, regardless of technical ability, easy access to a cryptocurrency. Within a few minutes of installing the mobile app any user can see Electroneum being added to their wallet via the unique mobile miner. Nearly all cryptocurrencies are “mined” with specialist equipment. Electroneum can be mined with the mobile app.

History of electroneum

  • January 2015 — Richard Ells buys his first Bitcoins and starts his interest in cryptocurrency.
  • August 2015 — The team at Retortal start building their own cryptocurrency, forked from cryptonote.
  • January 2016 — Bitcoin has nearly doubled in value since Richard Ells first introduced the team. Their own cryptocurrency still has no name but it is now working in our server rack.
  • April 2016 — OThe first (ugly!) GPU miner is born.
  • July 2016 — Bitcoin has trebled in value since we started looking at cryptocurrencies. They formally decide to get involved in developing a cryptocurrency with improvements over what is available.
  • August 2016 — The team choose the open source Bytecoin improvements in cryptonote as the basis for their new currency.
  • September 2016 — It is decided that mobile ubiquity is what they must build our currency around. They have been calling it “Electron”.
  • January 2017 — They formally raised the initial investment required to launch their cryptocurrency. Planned for summer 2017.
  • March 2017 — They have a working model of their cryptocurrency, doing something that nobody else is doing anywhere in the world.
  • June 2017 — Discovering there is a little known cryptocurrency called “Electron” they rename their project “Electroneum” to ensure they differentiate themselves from it.
  • July 2017 — Electroneum Ltd is formed and officially takes control of the Electroneum project.

Ticker Symbol: ETN


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Electroneum Icon

What is the total supply?

The total supply is 21 Billion ETN

What is the total supply for the ICO?

There are 6 Billion ETN available during the ICO.

The supply is too big? why?

The Electroneum supply is 21 Billion with only 2 decimals. That makes it easier to understand with a “real money feel”. For example you bought a coke with 0.00023451 satoshi while you bought a coke with 20.00 ETN.

What will you do to the unsold coins?

Unlike any other cryptocurrency, they don’t burn the unsold coins. But instead they will allocate them for the mobile miners and by that it can help the app to reach it’s viral growth.

ICO Start Date: September 14, 2017

ICO End Date: October 31, 2017

Crowd Sale Bonus Structure:

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What is the hard cap in USD?

40 Million USD

How the mobile mining works?

The mobile app is centralized and runs off a twin algorithm that emit coins from from the blockchain at approximately the same rate as the full miners based on a CPU benchmark of the phone. This allows the phone to run without getting hot and withouth using TONS of power and bandwidth that previous attempts at phone mining have needed. But remember, they are not bringing the blockchain utility, they are bringing at different utility — they are bringing on USERS at a ridiculously low CPA, and allowing Electroneum to have viral growth. It also suggest the users to that they download and run the full miner(PC Mining) if you have facility to do so, enabling the growth of the cryptocurrency’s infrastructure. Remember that the full miners will be mining more ETN, due to the power of it’s CPU.

How much is the transaction fee?

There’s no transaction fee. Transactions are free so you can send and receive ETN easily.

When can we start mining?

You can start mining November 1, 2017 after the ICO.

Is it unique with other cryptocurrency?

Electroneum combined a decentralized blockchain with a centralized viral marketing app that encourages the adoption and accumulation of cryptocurrency through “gamifying” the experience — they call it the Mobile Mining Experience.

Electroneum’s blockchain emits coins to our mobile app users for bring a different utility to the blockchain. Electroneum full miners earn the most coins and that runs on Windows, Linux, and Mac computers. They bring the utility of blockchain administration and are rewarded with Electroneum coins. The mobile miners bring the utility of viral marketing to Electroneum and are awarded with a number (smaller) of Electroneum coins for doing so.

It’s done in a way that encourages app usage. They essentially gamified the mining experience, making it appeal to mobile computer gamers (there are over 2 billion of them).

How about the payment?

Electroneum app makes micropayments simple, and after they raise some funds during the token sale they can take it even further with contactless transfers and much more. However, the important thing is that these people have had android devices for ages — they just haven’t used them for micropayments because they don’t have anything to pay with.

If we can get some cryptocurrency into the hands of a community through mining, then they can start using as a means of exchange that never involves a bank. Previous cryptocurrencies have always started with a trip to the bank — or a powerful computer for mining — we’re the first that doesn’t need either.

~ Richard Ells(CEO and Founder of Electroneum)

What is the algorithm of Electroneum?

Electroneum’s Algorithm is the CryptoNote Algorithm: The CryptoNote algorithm is released under an open source license and has been adopted and incorporated

into electroneum as it forms the basis for a solid, well tested cryptocurrency core. It is the same core blockchain technology that is used by both Monero (a top 10 cryptocurrency) and Bytecoin (a top 15 cryptocurrency).

How secured the Electroneum Wallet is?


They developed offline wallet that is 100% secure. You can create as many offline wallets as you like for free and transfer bulk of your Electroneum to those wallets. You can create your offline wallet now at https://my.electroneum.com

Do you already have working products?

The developers of Electroneum claim to already have numerous working products and platforms in place. They plan to release all of these products immediately after the ICO crowdsale. The products will go live on October 31, one day after the crowdsale.

Products that have already been developed, finished, and tested include:

  • The Electroneum blockchain
  • An app-based wallet that allows someone to access Electroneum with zero technical skills or crypto experience
  • App based mining system that allows non-technical people to gain Electroneum easily
  • An offline wallet that allows for a completely secure, unhackable, offline wallet to be created
  • A Windows wallet
  • A Windows miner, where you can leave your PC mining for more coins at home or the office
  • Mining pool software (Electroneum runs this software to make mining easier; the software is open source and allows users to develop their own pools)
  • Blockchain explorer (used to verify payments and examine the blockchain in an open source way)
  • Third party payment API used to allow third parties to accept Electroneum or pay in Electroneum.

Duncan logan the CEO of RocketSpace is on board the Electroneum ICO :

Featured articles:

If you want to participate the crowdsale visit: https://my.electroneum.com/

Useful Links:

Website: http://electroneum.com

Overview White Paper:

Electroneum’s White Paper

Technical White Paper:

Bitcointalk Announcement Thread:


Facebook: https://www.facebook.com/electroneum


Telegram Chat Group:

Github page:

Android app download link:

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