Review on Electroneum by Othere Obtentus
Smartphone cryptocurrency
Electroneum is a first mobile digital currency aimed at being so far more than just a speculative commodity. It seeks to make buying crypto assets as simple as never before. The most creative feature of the project is the fact that Electroneum's token, the ETN, can be mined straight from their mobile phones by participants from around the world. The foundation for a new-age mobile payment system is the Electroneum blockchain. The Electroneum app's mining capabilities offer users from around the world the ability to pay with crypto. The blockchain is designed on top of the blockchain of Monero and it has some interesting safety features, as anticipated.
Much like Monero, the blockchain of Electroneum also showcases stealth addresses. The system utilizes a one-time public key which helps prevent the funds of the receiver from being directly connected to their wallets. Since a third party may verify the address to confirm its presence, the receiver gets the funds through the private view key of a wallet that actually scans the blockchain. A private single-use key is generated, and it corresponds to the public key of the sender.
Pros
- Users from around the world can mine easliy
- Token can be mined through smartphones
- Low cost for transaction
- Available for Windows, macOS, and Linux, Android and iOS
Cons
- Can only be bought from a handful of exchanges
