Electroneum, a British cryptocurrency founded by Richard Ells, was designed and built to give ordinary non-technical users the opportunity to become part of the cryptocurrency community using their smartphones. The Electroneum iOS (currently awaiting Apple approval) and Android app was created by the Electroneum team, and it not only contains simple wallet functions but also allows mining to be used so that anyone can connect to the cryptocurrency community within minutes of downloading the free app — something that has lately been holding back the growth of cryptocurrency, given the huge number of people around the world who do not even have access to a bank account, and the possible complications of connecting to cryptocurrencies through exchanges and so on, which Electroneum intends to solve.
The Electroneum blockchain is based on the Cryptonight algorithm and is built on the privacy-focused Monero coin, which was chosen for its dynamic block-size algorithm rather than for its privacy features, which were largely removed in Electroneum's latest software fork (May 2018), which also brought ASIC resistance to the blockchain along with a number of other features for handling the large transaction volume that will be required in the near future.
Electroneum holds a global patent (No. 1805708.3) for an instant payment system that allows cryptocurrency to be spent and instantly confirmed through the Electroneum app. Electroneum has a complete API integration package, making it easy to integrate ETN acceptance into e-commerce systems and ePOS systems.
