Described as the “world’s first common currency”, Electroneum was built on a similar wallet derived from Bitcoin’s Blockchain. The sole purpose of Electroneum was to get a firm hold on the mobile gaming and gambling markets, keeping in mind faster transactions for the ordinary mobile user. The founders claim that investing in Electroneum is one of the great passive income investments as it is going to be an ever increasing market.
ELECTRONEUM OVER BITCOIN?
Bitcoin has a total supply of 21 million compared to 21 billion of Electroneum. While Bitcoin has 8 decimal places which creates a lot of hassles in transactions, Electroneum will have only two decimal places so you don’t have to count the number of zeroes after the decimal places to carry out transactions. Not only this but here’s a list of several other benefits of switching to Electroneum.
- Non technical users who are rookies when it comes to cryptocurrency shall be able to carry out transactions and even mine Electroneum using their mobile based app and secure/store their transactions using an offline wallet.
- No need of GPUs unlike Bitcoin to mine Electroneum and one can do it in a regular windows PC at home or at office. These mined coins can be stored in a windows wallet.
- Third parties will now be able to accept and pay in Electroneum.
- Their mining pool software is open sourced, i.e. any user can develop his own mining pool using his phone.
- Enables quicker micro-transactions which allow users to transfer coins between apps, games and other users.
- Will hold onto a widespread market due to the lesser number of decimal places compared to Bitcoin and creating hassle-free transactions.
The company have started their ICO on September 14th, 2017 and during the last week of the crowd sale, that is till 31st October, you shall be given up to 100 coins for each dollar you pay. The total coins available at the crowd sale sums up to 6.3 billion. You can participate in the crowd sale using Bitcoin, Ethereum or even Bank Transfer.
IS THE VALUE GOING HIGHER?
People have this major concern that if everyone starts mining coins on their phone, who are they going to sell it to? Well, you need more than a handful of people using a cryptocurrency for it to hold on for long in the market. The more number of people using it, more will be it’s value. It is estimated that the value of 1 Electroneum coin is going to certainly increase in the coming years as their ICO was itself at a value of $1.
Looking at the claims of the company and it’s performance in the ongoing crowd sale, it sure is a safe investment and shall bring good yields in the near future.