1. References

Electroneum is a cryptocurrency project which uses a mobile application to pay users.^[1] The first KYC/AML compliant cryptocurrency, Electroneum enables users to mine^[2] using their mobile phone through a simulated mining system. The system pays up to $3.00 per month to its users, with the goal of enabling the worlds unbanked population with financial freedom.^[3] The cryptocurrency can currently be used to purchase mobile top-ups from the South African telecommunications company The Unlimited,^[4] as well as to transact with any business that has integrated the Electroneum API, or directly between individuals.

The ICO of electroneum has collected 40 million dollars in less than two months. After the ICO, the platform suffered a hacker attack that slowed the roadmap by about a month. During this time, revisions were made to the cryptocurrency making it a fork of Monero thanks to the collaboration with an anonymous developer of the latter. It is currently exchanged in seven Exchange sites for cryptocurrency including HitBTC. In just two months Electroneum has reached a value more than 20 times higher than the starting price in ICO, stopping at a price of around 10 cents per dollar, or 1000% higher than the initial price.

The final availability of Electroneum coins is 21 billion. The production of new circulating currency will take place in two ways: Traditional mining, and Cloud Mining, which is featured in Electroneum's mobile application.

References

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