Electroneum (ETN) –The future is fraught with uncertainties and nowhere else is more prone than the cryptospace where ups and down is the order of the day.
Insomuch as old orders are crumbling and new ones are taking it place you cannot continue to hold on to the ideal that Bitcoin (BTC) is king and cannot be dislodged from it hoary pedestal. After all change is the only constant recognized in this ever evolving human world where impossible is not recognized.
Hey before you wave it all aside claiming that you know it all and can see farther than Methuselah let’s navigate the terrain together and then you can draw your own conclusions from the outlined points.
Agreed Bitcoin (BTC) has history, miners’ support, community support, storage of value, real-world use, resilience, trust, etc. on Electroneum (ETN) being the pioneer of blockchain. But the simple truth is that the world is evolving, and so is the cryptospace.
Understand Blockchain Complexity
It is essential to understand the category that cryptocurrencies in the market fit into as every day witness the influx of new cryptos. While there are many different types, applications and uses of cryptocurrencies, blockchain can be categorized into two broadly speaking:
- The blockchains that can be thought of as cryptocurrency-only
- Those that are designed to achieve purposes beyond the enabling of a digital currency.
When Satoshi Nakomoto designed the blockchain that Bitcoin uses, it was created with the sole aim of enabling the world’s first cryptocurrency. Many others like Litecoin (LTC) followed, and other than a faster transaction time, they offered no meaningful improvement.
Then came Ethereum (ETH) in 2015 and presented the next evolution in blockchain technology. It was the first blockchain that allowed ‘smart contracts’ and for a blockchain to store and process information that was not restricted to financial transactions alone.
Ethereum was responsible for the creation of an entire industry, where products and companies’ SaaS are built on the blockchain. Several new blockchains have been created-and are being created- that improved on this functionality or has different utilizations in mind.
There has been 0a noticeable increase in the use of the second type of blockchains as many projects have been increasing the scope of blockchain technology and many are designed to escalate enterprise adoption.
The cryptocurrency-only blockchains have not witnessed as much growth as it currently seems like no one will be able to take Bitcoin’s crown as Numero Uno.
Electroneum (ETN) To The Rescue
The major challenge for new entrants in the space is that even though Bitcoin may not be the most capable or even the most diverse cryptocurrency, it is still the pioneer. Most people think of cryptocurencies and Bitcoin synonymously, and it will take a reasonably level of innovation to stand against it.
Electroneum may have come across a way in which to create a cryptocurrency-purposed blockchain that may have a leg up on Bitcoin.
Electroneum (ETN) Introduces Mobile Blockchain.
Electroneum is the first Britsh cryptocurrency whose aim primarily is to act as a medium of exchange, i.e., it is meant to be a cryptocurrency-only blockchain.
When Electroneum was started by Richard Ells and his team, they set out with the following objectives
- A low point of entry for new users. This philosophy is the driving force behind having mobile mining. It allows the users to be a part of the community and feel involved in a way that they will not be able to do with other cryptocurrencies.
- Privacy is another top concern for the ETN team. Even though blockchain technology is mostly operated on the concept of a public ledger, there is nothing mandating wallet balances being public information. The transactions on the Electroneum network are publicly visible but to view the account balance of a particular wallet address, the private viewing key is needed. Electroneum’s (ETN) usage of three keys, a public key, a private viewing key and a pass key though uncommon looks like a smart move.
- Security is also an essential aspect of Electroneum (ETN). The way the app is designed, emphasis is placed on users having as many offline wallets as possible to store funds. Whenever the user is ready to make a transaction, the funds can easily be imported into the digital wallet for use.
- Electroneum’s (ETN) unique value proposition lies not in how it’s used, but rather how it is mined.
3 Reasons To Choose Electroneum (ETN) As A Better Investment Option.
The following are the 3 reasons you should choose to invest in Electroneum rather that Bitcoin (BTC)
Electroneum (ETN) Ease of Accessibility as against Bitcoin’s (BTC) Complexity.
Electroneum is the first cryptocurreny designed specifically for mobile use. With over 2.2 billion smartphones in use currently, the demography is worth targeting.
Even though there are numerous existing online wallets for virtually all available cryptocurrency and most of these offer mobile apps from which transactions could be made and balances viewed, Electroneum is a mobile-oriented crypto and is sure to have a smoother experience on mobile than those not designed for it.
Electroneum’s USP is that basic user who would never have gone to the trouble of mining cryptocurrencies on their computer can benefit by earning ETN with ease.
Amateur mining of Bitcoin has become virtually impossible as it needs more resources than the average person’s computer can offer. In fact, Bitcoin’s mining has become virtually an overly competitive space.
Electroneum (ETN) on the other hand can still be mined using a computer’s GPU. The barrier to mining Electroneum (ETN) and similar cryptos is the technical nature needed to set up the necessary programs. When Electroneum’s mobile mining app is released, the ease of usage will make this cryptographic project stand out.
The catch, however, is that Electroneum (ETN) can’t actually be mined on a mobile device as it is mined on a computer; rather the mobile app is designed to stimulate the mining experience. Users are rewarded with pre-mined ETN depending on how long they leave the application open on their mobile phones.
The mobile miner is a clever marketing strategy by Electroneum and would lead to increased adoption and use of ETN.
Electroneum (ETN) Will Be When Bitcoin (BTC) Runs Out.
One of the fundamental differences between Bitcoin and Electroneum is that ETN has 21 billion coins available to be mined as against BTC’s limited supply of 21 million coins.
When Bitcoin(BTC) runs out of coins to be mined, the reward of uncovering new Bitcoins (BTC) will be gone. With Electroneum having 1000 times as many coins to be unhashed, it is easy to envision a very stable future for ETN and possibly a much smoother growth pattern than Bitcoin. This is because it will take far longer for unhashed coins to be scarce.
The Target Market
The fact that ETN is made to be adopted for regular users stand it in good stead. A lot of people do not have the privilege of buying even 0.001BTC, but with Electroneum (ETN) they could enter the crypto world for free. This concept is amazing as it is sure to bring crypto to a wider range of people. There are over 10milllion people using Bitcoin(BTC), and Electroneum (ETN) is still far from reaching this quota. But when you consider the immense size of the smartphone industry you will realize that you can’t count Electroneum out.
For those who can still not wrap their mind around the idea of Bitcoin (BTC) becoming a white elephant. Remember that one day HumpityDumpity had a great fall and all the Kings men could not put Him back.
Well if you have been able to achieve that gear shift in your mind, then you might want to look at Electroneum (ETN) if you will not despise its days of small beginnings.