Review on Electroneum by francis fernandez
Electroneum EIN: an opportunity to earn income with the use of your smart device!
Crypto project developers increasingly seek to bridge the gap between technology and the common user. That is why we continually find new blockchain options on the market that seek to offer digital products at any level and aimed at satisfying multiple needs.
Within this category of blockchain aimed at the common user, we find Electroneum.
Electroneum is a UK based digital currency based on the Bitcoin blockchain. This cryptoactive was created on its own block fall.
The cryptocurrency known by its acronym ETN, was created in order to become a digital currency for mass use; whose mining can be done through a mobile device, facilitating small and fast operations between games, users and applications.
The fundamental utility of this platform lies in its mining process. Electroneum based on the premise that the vast majority of the planet's inhabitants have a smartphone; decided to use this to its advantage to reach widespread use of its platform.
In this way, he designed a mining mechanism that can be done from a mobile device.
What is ETN mining?
The nodes execute the operations on the blockchain; they validate them and discover new blocks; which gives rise to digital currency payments.
This process is done in three simple steps on the mobile:
1-Creating an account on the Electroneum website.
2-Download the Apps on the mobile phone and log in.
3-Select the option "Miner" and press the button to start mining.
The reward that miners get at Electroneum is directly proportional to the amount of work their mobile executes.
Pros
- Its application allows any user to get rewards in ETN by using their smartphone.
- It achieves the interaction and integration of communities of different kinds with a blockchain technology platform.
- Provides privacy in the balances and amounts of the operations carried out by the user; since being a public blockchain, transactions are visible to all users, but the amounts and balances of the wallets are not. This information can only be accessed using a private key.
- It is a secure platform by allowing the user to store their funds in offline wallets; being able to also import them to the digital wallet whenever you want.
- Allows rewards to be settled instantly.
- Transactions are free by using the mobile application.
- Mining is done quickly and with low data and battery consumption.
Cons
- There is a limitation regarding mining; since a mobile is not as powerful as a computer
