The ETN ecosystem is experiencing ongoing developments, which, along with the overall crypto market, may lead to new heights and significant growth for ETN. Bullish price predictions for ETN in 2021 indicate a potential increase to $0.03235 within a year and further growth to $0.146962 by 2025. However, if you have doubts about exchanges and purchasing coins, there is another way to acquire ETN – mining.
But there is more to Electroneum than meets the eye. Let’s explore the nature and history of this cryptocurrency.
Electroneum is a cryptocurrency that made its debut in 2017 to great acclaim. The British startup attracted over 300,000 new investors by offering innovative solutions for mobile gaming, internet gambling, and conventional payment processing. One of the unique features of Electroneum was its status as a smartphone crypto that operated on an ASIC-resistant variant of the CryptoNight hash algorithm.
Initially, Electroneum aimed to provide two forms of mining: GPU mining and mobile mining. However, these ambitions were delayed due to the challenges posed by rogue GPU miners who caused irregular block timings and transaction delays. As a result, Electroneum no longer focuses on developing CryptoNightV7 and has fully embraced ASIC mining.
The Electroneum team consists of various professionals, including crypto consultants, senior engineers, and industry experts. Their mascot, Ruby, brings joy and love to the office.
ETN underwent a fork to become ASIC-friendly, renaming the algorithm from CryptoNight V7 to CryptoNight. This decision was made to address the irregular block timings caused by GPU mining waves.
The fork occurred twice this year: the first eliminated ASICs from the network, while the second reintroduced them. Throughout both forks, users’ coins remained secure and gained new features such as ASIC-friendliness, emphasis on fast payments, fee increases, block size enlargement, difficulty window reduction, and block reward increase.
Mining Electroneum can be done through traditional methods or by using a mobile miner. The Electroneum team has partnered with mobile providers to give access to over 100 million smartphone owners, allowing them to mine coins by downloading the Electroneum app. The ETN project aims to reward users for their participation in the community.
Moreover, several cell providers have started accepting ETN as a payment method for their customers. The coin’s community is working with large companies to include digital payments as a viable option. They have signed deals with over 1.2 million agents, merchants, and distributors across nine countries.
The goal of Electroneum is to create a unique cryptocurrency accessible to millions of people worldwide. All of these factors indicate that mining ETN has a promising future and can lead to profitable outcomes.
The most effective method of mining Electroneum depends on using ASIC miners. These devices outperform GPUs in terms of speed and accuracy. While GPU mining is still possible, it is no longer economically viable.
Joining a mining pool is recommended for successful ETN mining. Mining pools allow users to combine their hashing power to mine blocks more quickly, resulting in consistent and steady revenue.
To begin mining ETN, you need to select the appropriate hardware. ASIC miners are the best option for ETN mining. You also need a reliable internet connection and sufficient power supply to support your mining equipment.
Like any crypto venture, you need a wallet to store your ETN securely. There are various types of Electroneum wallets, including mobile apps, paper wallets, web wallets, and CLI wallets. Each has its advantages and considerations, so choose the one that suits your needs.
Electroneum offers a range of products and features, including ETN Everywhere, AnyTask, ETN Donate, the ETN App, the Smartphone Electroneum M1, a permissioned and private blockchain, instant payments, and the Electroneum TaskSchool. These products and features enhance the usability and accessibility of ETN.
Electroneum has a large and active community, with over 4.3 million participants. They engage through social media channels and forums, where they can interact with other users and administrators.
ETN’s price history has experienced fluctuations since its debut, but there is potential for growth and stability. The current price of ETN is $0.01936669, with a 24-hour trading volume of 882,357.81 USD.
In conclusion, mining Electroneum can be a profitable venture, especially with the growing developments and potential for price appreciation. By understanding the mining process, selecting the right hardware, joining a mining pool, and using a secure wallet, you can participate in the Electroneum ecosystem and potentially reap the benefits of this cryptocurrency.
