Electroneum (ETN) Sudden Rise Is Not A Day Job –Electroneum News

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Electroneum (ETN) Sudden Rise Is Not A Day Job

The space first noticed the rise of a cryptocurrency Electroneum (ETN) on the 28th September 2018 when the cryptocurrency spiked by 47%. Crypto lovers were wondering If what the cryptocurrency witnessed was a mere pump and dump.

After few days, it appears the cryptocoin is not relenting, making the space to be full of discussion on Electroneum.

Regarded as an “enablement currency”, the team behind Electroneum have the intent of enabling a new 3 trillion dollar market with its decision to give room for more than 350m smartphone users in the developing world to have access to the digital market for the first time.

Electroneum (ETN): A Peep Into The Past

Looking back, Electroneum (ETN) is not just clinch the top position, the cryptocurrency has been sealing deals and making impacts before this time.

Electroneum Partners XIUS, A Mobile And Payment Provider With 65 Million Subscriber

Early January, Electroneum announced a groundbreaking partnership with XIUS, a mobile and payments technology provider with more than 65 million users.

The platform, XIUS, is telecommunication brand of Megasoft. XIUS is touted as a market leader in the mobile and payments space due to its more than 230 deployments for its customers in 6 continents.

XIUS processes over USD 1 billion worth of payment transactions monthly, and has its operating headquarters in Massachusetts, USA. Also, it has its global delivery centre in Hyderabad, India.

Xius is one of the greatest thing that happened to Electroneum for the fact that the payment and telecommunication company has more than 25-year experience in innovation and has filed over 120 patent applications.

Aside that, the XIUS ‘Payment Manager’ software services over 1.2 million agents, dealers and distribution points spread across 9 LATAM countries.

With this partnership, Electroneum is now used on its software and the cryptocurrency is being used as a payment method across Latin America.

The collaboration will help in promoting Electroneum’s mobile mining app by offsetting phone costs.

The development is a pointer to success for the fact that it was not long to the time of this partnership that Electroneum raised $40m in its ICO, with close to 500,000 registered users.

Electroneum (ETN) Sealed Deal With Effortel and BMedia

After partnering with XIUS, Electroneum announced another deal with Effortel and and BMedia. The collaborations brought Electroneum to reach to 91m users.

Effortel is regarded as the only Effortel is the only mobile virtual network enabler (MVNE) that is running a centralized real-time intelligent network system across the industry. The platform has integrated with nothing less than 6 mobile operators across 7 countries and 3 continents.

In the same line, it also signed agreement with Unified Media, a company with over 19-years experience enabling firms to resell communications, financial services, and other types of value added services. The partnership among other things heightened the reach of Electroneum (ETN) to 130 million people.

Conclusion: some people may be thinking the rise of Electroneum (ETN) in the market is a pump and dump. Beyond that, ETN has achieved worthwhile partnerships. This is behind its rise in the crypto space. There is space for ETN among the top 10, but time will tell.

1 COMMENT

  1. It was pumped, it was admitted my Mkid and his friends on the actual Electroneum forum. Mkid professes himself as an actual whale (why you would boast about this is anyone’s guess), and mentions he has the funds to actually pump the price, (along with 6 of his friends, check for yourself: https://community.electroneum.com/t/fight-the-etn-dump-club/4055/1036)

    You say Xius has filed 120 patent apps, how many were rejected?

    ETN allege they have a target user reach of 300million, yet only have 120K (approx) users on the mobile airdrop app at any given time, alleged 2mill+ users, 1mill wallet downloads, yet the wallet struggles with heavy traffic, too many errors (16, 2010, 6060, 90211) when trying to log in.

    The coin itself has node issues that the ETN team can’t figure out, here’s a snippet from Chris (ETN Dev) when he posted on a Discord channel asking for help:

    Chris (Electroneum Development)10/08/2018
    Does anyone here know the root of the problem: nodes disagreeing on difficulty for cnote coins
    We have studied this issue to death, and it seems independent of everything we’ve tested. We’ve found nodes can have their difficulties out of sync for thousands of blocks and then they realign without even a recompile.
    Or restart. I guess if someone here knew the answer they would make the PR, but I was wondering if anyone has an idea.

    Also, look at how the ICO was advertised. It reached a hardcap of $40mill in a short time, when advertised as a ‘Decentralized, Asic resistant privacy coin’ that was going to target the gambling and gaming sectors and achieve mass adoption. So $40mill was raised under this advertisement. 6months later, all plans are changed after their major screw up with the forks (Asic resistant, back to Asic friendly) implement KYC (no longer a privacy coin), become centralized, absolutely nothing that the original $40mill gained was meant for. It wouldn’t surprise me if someone raised a class action against Ells. Also, as they are a UK based Ltd company, and are now asking for KYC and people’s personal data, I have yet to see a mention of GDPR, something they are not complying with.

    So rather than only post positives, please post the other side of the coin, let people make their own minds about ETN when more facts are presented.

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