A safer blockchain
In 2019, we were proud to announce that our network has become one of the safest cryptocurrencies in the world. ETN is no longer susceptible to a 51% attack – a major threat for the majority of cryptocurrencies in existence today.
This was achieved with a radical blockchain update that has added a moderation layer that remains dormant all the while the network is running smoothly, however, in the case of a possible attack, the layer will determine where the attack is originating from and shut down the compromised attackers.
Also, validators (miners) can no longer mine consecutive blocks, providing yet another security enhancement.
One of the safest cryptocurrencies in the world
A more responsible blockchain
Electroneum is the only cryptocurrency worldwide whose network is run by Non-Governmental Organisations (NGOs). NGOs run the validator nodes and receive the block rewards for maintaining the blockchain. We call this new protocol Proof Of Responsibility (PoR).
Prior to the launch of PoR, we handpicked several NGOs with verified track records of helping people in developing countries who are living in very vulnerable conditions. These NGOs are now using their ETN block rewards to enhance their charitable initiatives, helping families break the cycle of poverty and build a more prosperous future.
A greener blockchain
Our blockchain is the greenest of any cryptocurrency, having removed Proof of Work. Even with tens of thousands of transactions per day our network’s energy requirements is only that of a single lightbulb. This is vastly different to the majority of blockchains in existence today, some of which require equivalent energy to that of an entire country! This advancement sets a new standard for blockchains worldwide.
Co-Inventor of blockchain
Following the launch of our Moderated Blockchain, we spoke with Dr. Scott Stornetta who is widely known as the co-inventor of blockchain. His work from 1991 is even included in the original Bitcoin whitepaper. He praised our initiatives and the application of our responsible blockchain.
The interview discusses everything from his vision for the future of blockchain to his opinions on the Electroneum project, as well as our approach to educating and enabling people in developing regions to learn new skills and explore new ways to earn.
See how our blockchain functions
A valued member of the Electroneum community produced the video below, highlighting the benefits of our Moderated Blockchain and how it works. If you’re interested in learning some of the more technical aspects of our blockchain, go ahead and watch the video below.