Categories: EducationFAQ

What Is Electroneum?

There are many ways to approach the task of creating a valuable cryptocurrency. Bitcoin will remain the top cryptocurrency for quite some time to come, but things can always change in the future. Whether or not Electroneum has what it takes to rival the world’s top cryptocurrency remains to be determined. This particular project certainly looks interesting enough to play a role of importance.

An Overview of the Electroneum Project

Unlike most other cryptocurrencies in the world today, Electroneum focuses on the mobile ecosystem. It is positioned as a mobile cryptocurrency that is simple to use and powered by an app. Making cryptocurrencies more accessible will require a mobile strategy at some point. Even though Bitcoin and other top currencies all have mobile wallets, Electroneum may bring something to the table which these other coins cannot right now.

Electroneum Under the Hood

According to its website, Electroneum has the benefits of Bitcoin and other assets, while bringing more anonymity to the table. Moreover, its transaction speed is a lot higher. Given Bitcoin’s recent woes in the speed and fee department, Electroneum may be of great value to a lot of people in the future. Users will have their transaction history and wallet content protected from prying eyes. Additionally, there is an option to provide publicly accessible transaction hashes. A mix of privacy and transparency seems to work quite well, at least on paper.

Related Post

Additionally, the Electroneum developers are confident they will be able to provide unhackable offline wallets. More specifically, there will be an option to generate multiple offline wallets, which will allow users to keep their funds safe and secure at all times. Generating an offline wallet needs to be done using an online platform, though, which raises a lot of privacy concerns. So far, there haven’t been any major issues with these offline wallets, but it’s always something to be wary about.

Other than that, there isn’t much that sets Electroneum apart from other cryptocurrencies. While the focus on optional transparency is significant, this is not the first project to provide such functionality. It is evident that there is a growing demand for privacy and anonymity in the world of cryptocurrencies, and Bitcoin cannot provide that functionality in its current form. Whether or not that is sufficient to warrant interest in Electroneum remains to be determined.

Is There a Roadmap to Speak of?

No cryptocurrency can afford to stand still. In the case of Electroneum, there is still a lot of work to be done in order for it to become a major cryptocurrency. The company has signed an agreement with

XIUS, a telecommunications and payment giant. However, there does not appear to be any official roadmap as of right now, which is rather worrisome. This doesn’t mean the team will not announce anything in the future, but for now, things don’t look all that impressive. Electroneum’s lack of communication is a major worry for investors; that much is certain.
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

8 hours ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

8 hours ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

9 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

9 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

13 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

14 hours ago