Electroneum [OFFICIAL] Thread

electroneum
etn

#103

Great video. 6 minutes long.

(and mobile miner specifically discussed at 1:38 mark):v:


#104

Can anyone explain how they had their ICO without launching an ERC20 token? Does this mean that they didn’t have a smart contract and whoever contributed to the ICO just trusted that they’ll receive their tokens?
Any technical details are appreciated.


#105

ETN is an advanced blockchain privacy token fork of Monero, not a simpler erc20 token.


#106

Appears Genesis Mining is adding ETN in light of the Monero fork.


#107

Someone shared this today in the Telegram and I fully agree:

"People thought ETN was a scam when they didn’t pay out the ICO investors, then they did.

They thought ETN was a scam when they claimed they were working with HackerOne, then HackerOne tweeted about working with ETN.

They thought it was a scam when the mobile miner was a little late, but it came out. I have nothing but faith for this coin to keep on delivering."


#108

Guys, does anyone have any information about token allocation for ETN?
I am curious how they allocated the tokens between team, advisors, ICO and mining and I can’t find this anywhere.


#109

Hi Cristian,

Really good questions. From a variety of bona fide sources I’ve kept track of:

4.4 Billion ETN reserved for investors (ICO)
The Electroneum team decided to sell 6 Billion coins during the ICO to early investors. According to the white-paper, these funds are for marketing, translating, and further technical development of the app/blockchain. However, strong interest in the project saw it raise $40 million before the scheduled end date of the ICO. Coin sales were therefore stopped at $40 million, which equated to 4,411,590,293 coins sold during ICO.

7 Billion ETN reserved for mobile miner
While mining for Electroneum, your phone won’t be performing real mining (as is done with a computer), but rather a simulation of mining. The Electroneum team has described their mobile app as a Mobile Mining Experience.

Instead of actually using your phone’s CPU to solve complicated cryptographic problems (as is done with real mining), the app will continually monitor the available CPU power on your phone. In this way, it will determine the amount of CPU power that could have been used for mining, had the phone actually been mining.

Your phone will then be issued with a hash rate (speed of mining, if you will) based on its available CPU power. ETN coins will be credited to your online wallet based on this hash rate.

20 Million ETN reserved for bounty payments
During the ICO, a bounty program was run in which users were rewarded for sharing Electroneum, answering questions in forums, and helping with translations of the white-paper and website. 20 million coins were reserved for this.

20 Million ETN reserved for the Electroneum team
As developers of the product, the Electroneum team (12 members) reserved approximately 20 million coins for compensation.

Hope this helps!


#110

Thanks a lot for your very in depth response! It definitely helps a lot, as this kind of information is very very difficult to find.
But isn’t it a little weird that the team got only 20 Million ETN though? In a normal ICO token allocation, the team gets around 20-30% of the tokens + 5-10% for advisors. Also, company reserve is normally another 25%, to cover the operations costs.


#111

It is quite good for everyone that the team will only receive 20 million. This serves as an impetus for them to develop a useful and valuable token, versus allocating themselves 200 million tokens where the token value could remain quite low and still provide a great reward.

Additionally, as part of their structure, the Electroneum team are not allowed access to their ETN until November 2018.


#112

Got it. By the way, where did you get all this info? :grinning:

Well, if the team would have taken a 20% cut (which is normal for an ICO), they would have gotten about 4 bln ETN, so that’s why 20 million is really nothing. I guess they have crazy high salaries then :smiley: but that’s still weird, because they didn’t allocate any company reserve for that.


#113

Fork and air drops coming in 9 days. Possibility for some nice gains? :thinking:


#114

I received the announcement, they said the fork is scheduled for May 30th to give time for people to upgrade nodes ect.

They are also doubling the variable block size, decreasing the mining difficulty and removing some of the privacy options (though keeping the wallet address privacy). The goal as they stated, was to be a micro-transaction based protocol rather than a complete privacy CDA.

I still think this one has potential to reach $1 (which would be 30x from now), provided they can deliver on all those promises. So far, they have struggled and been late on some things, but overall, are still moving forward.

If I were to gaze into a crystal ball, I would suspect that once they have a reasonable adoption and have delivered on about 75% of the promises (even if some of those have issues), then it might be likely the company could be bought up by VC’s. It kind of strikes me of how Mr Ells works (build it up and sell).

However, time will tell and I still hold a lot of this one, mine it and run a node in Azure.

Stay Fishy


#115

Oh, I didn’t realize the date got bumped. Now would be the time to buy then.


#116

ive mined 100 so far. time to mine more


#117

I’m over 200 or so from mining. I have two extra phones just going to work and an iPhone waiting for the iOS app. I refuse to by any when I’m getting 10+ every couple days. #minejunky


#118

#119

Electroneum is 40.09 percent against the USD with a movement of 1.67 percent during the last 60 minutes.


#120

ETN marketing has started.

ETN was featured on the London Stock Exchange

UK PLC Mobile Streams has signed an agreement to use ETN for the Mobile Gaming service

Richard’s presentation, at the BCI Summit New York, had a lot of information about Electroneum that was not publicly available before. A professional recording of the presentation will be uploaded soon.

The Vendor Instant Payment Service is in beta with a lot more information available.

The new patent has been received extremely well by multiple mobile phone plan vendors around the world whom are all going to start offing it shortly, which is why Richard was all over Asia in the last few months.

ETN may be down the chain a bit from the bigger players, but I still think it is one to watch.

(Not advice, be fishy on your own)

Stay Fishy


#121

Electroneum (ETN)
$0.012008 USD (-8.46%)
0.00000181 BTC (-7.12%)

This is the new Doge crypto.


#122

Electroneum Apple iOS App Approved.
Apple iOS beta now available for application.

photo_2018-07-06_19-12-56

photo_2018-07-06_19-13-01

CEO Richard Ells explains: