Overview

Electroneum is a Layer 1 EVM-compatible blockchain, catering to 4+ million users worldwide. The network boasts transaction speeds of just 5 seconds with instant finality and potentially the lowest smart contract fees available. Powered by the IBFT consensus mechanism and supported by known validators (targeting universities and Web3 infrastructure companies), the network is incredibly fast, secure and energy efficient. ETN provides the backbone for AnyTask.com a successful freelance platform in the crypto space.

Where did the project begin?

Electroneum launched in 2017. It was introduced as a mobile payment solution for the world’s unbanked populations. Central to this ideal is the Electroneum App (see your phones app store), which simplifies the end-to-end cryptocurrency experience, allowing users to easily store, send, receive and spend ETN. The app features a marketplace for third party services, allowing users to spend their ETN on essentials including mobile phone top ups in over 140 countries. This solution aided the launch of AnyTask.com in 2019, a platform on which freelancers can sell digital services online without the need for a bank account. As of today, AnyTask.com has more than 30,000 sellers worldwide, and is part of 300,000+ purchases made through the ETN App to-date.

What is next for the project?

The launch of Electroneum’s Aurelius blockchain update in 2024 provides a means for developers and organisations to explore and build Web3 solutions in a more secure, fast, low-cost, and energy efficient environment. Electroneum’s efforts in the developing world will continue, with universities coming on as validators, allowing smart contract course students to develop smart contracts in a live environment, with the contract fees covered by the validator rewards. AnyTask.com’s development will continue with a new app being developed in 2024. Electroneum is aiming to provide corporate blockchain facilities, ETN is unique in the way it’s validators work and are all known entities, allowing corporate use of the blockchain without fear of anonymous infrastructure. The ETN blockchain has been developed whilst in discussion with a number of IoT providers looking for almost instant finality of data storage. Web3 is an area of significant opportunity for the project that will help bolster and expand its ability to solve real world problems.

Want to build on Electroneum?

If you’re interested in building a Web3 solution and would like to speak with the Electroneum team, please reach out via the blockchain page:

Visit the blockchain page