Quick jump
Hello and welcome to this blog post about Electroneum ETN White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Electroneum ETN white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Electroneum (ETN).
I can ensue you that, you will be able to understand every bits and pieces related to Electroneum (ETN) after going through the Electroneum ETN white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Electroneum ETN White Paper
Electroneum ETN white paper will be going to provide you, all the information that is needed to get started with Electroneum (ETN), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Electroneum ETN white paper.
Introduction
Electroneum has genuine users, huge usage and a real-world ecosystem. Users are not just cryptocurrency enthusiasts. A massive number of ETN users are unbanked and they are finding that using ETN is adding real utility to their lives. We are not a charity, we are a sustainable business model that empowers real people.
According to the World Bank2, more than 1.7 billion people cannot access traditional banking services. As the world becomes increasingly globalised, those cut off from banking suffer the most. One such example is within the task economy, which according to Mastercard3 is valued in excess of $200 billion USD.
Online marketplaces fuelling the task economy include the likes of Freelancer, Upwork and Fiverr. These marketplaces have made tremendous strides in providing buyers with low cost services, and sellers with an audience of global buyers. However, all existing task platforms suffer the same flaw; they require both buyer and seller to be banked.
Electroneum, established in 2017, overcomes this issue, providing a simple mobile application that enables anyone, anywhere, to buy and sell goods and services remotely. At its core is Electroneum’s own blockchain and cryptocurrency, ETN. Electroneum’s blockchain enables fast and secure transfer of value between users without incurring large transactional fees.
With more than 3.9 million registered users in just under three years, Electroneum has already become hugely popular. Key developments throughout 2018 and 2019, including their own instant payment notification system and KYC/AML compliance system, helped to reinforce the foundation from which Electroneum has continued to grow.
The first developmental focus for 2019 was a major redevelopment of the blockchain. This new network is not only faster, more energy efficient and significantly more secure than virtually all other blockchains in existence today, but it offers something no other blockchain has to this day; energy responsibility.
Electroneum has successfully implemented a new blockchain protocol that we call ‘proof of responsibility’, delivering mining rewards not to anonymous miners around the world, but to NGOs across emerging markets who strive to help the very people Electroneum is setting out to educate and empower.
White Paper Link: Electroneum ETN White Paper
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