Electroneum is a complementary currency that has been developed to allow anyone, regardless of technical ability, easy access to a cryptocurrency. Within a few minutes of installing the mobile app any user can see Electroneum being added to their wallet via the unique mobile mining experience. Nearly all cryptocurrencies are “mined” with specialist equipment. Electroneum can be obtained via the mobile mining experience on the app.
We’ve developed a fully functioning crypto coin with some very unique features. We’ve identified multiple enormous markets and we’ve created a free Apple and Android app that allows us to start penetrating those markets from day one after the token sale (31st October 2017).
Even though Electroneum utilizes a tried and tested blockchain (the same blockchain model as the 9th largest cryptocurrency by market capitalization - Monero, and the 12th largest - Bytecoin 1) it has been developed to have some unique features which make it far more accessible for the average person
With Electroneum’s supply of 21 billion coins we’ve made it easier to mine whole coins and pay with whole coins. Our studies of non crypto-literate users showed that they prefer to see a whole number in their wallet than fractions of a coin.When people in our test groups saw they were getting coins in their wallet by leaving the app running, they rated the experience higher than when we tested the experience with fractions of a coin appearing.Mobile phone CPUs are not very good at the math behind mining cryptocurrency and so the amount of coins they could mine if we followed Bitcoins model would be very disappointing.We have deliberately avoided using a blockchain that can be mined with super powerful ASICs (the way all Bitcoin are mined) and created a blockchain that can be mined with CPUs, which enables the AVERAGE person to get involved.
Cryptocurrencies often have relatively low coin numbers. For instance, Bitcoin only has a maximum of 21 million coins.What this means is that the whole coins tend to have a large value and thus real world transactions for small amounts of value tend to look rather strange to humans. We are quite used to swapping coins for things, but if you bought a can of Coke with Bitcoin at the moment (June 2016) you would pay something like 0.000391 Bitcoin. This is not a very “human” number. We have made Electroneum’s blockchain have 21 billion coins, which will move the decimal places forwards.Electroneum only uses two decimal places. Everyone is familiar with a payment system that uses two decimal places, and it sits more comfortably with them. We believe this will encourage adoption rates, and make transactions easier to understand and easier to perform mental calculations with. It’s easier to tell someone that the price of an item is 345.67 Electroneum than it is to say 0.01374 Bitcoin.With Electroneum that same can of Coke would cost 99 Electroneum. That looks a lot more like a human currency, right?