Electroneum price

ETN

#596

In early 2024, Electroneum initiated its ‘Aurelius’ blockchain update, becoming a Layer 1 EVM-compatible blockchain.

With a unique validator system that is operated by NGOs, foundations and other known entities, it is uniquely efficient in terms of electricity use. This enables it to boast of one of the lowest (perhaps the lowest) transaction cost of any layer 1 blockchain AND be a great choice for brands seeking to ensure they partner with a sustainable and environmentally friendly blockchain.

The network boasts industry-leading speed, security, and efficiency having implemented a unique take on the IBFT consensus mechanism, supported by known validators. Transactions on the blockchain take just five seconds with instant finality, meanwhile, smart contracts can be launched and operated at potentially the lowest cost available on the blockchain market today.

The network has proven to be effective over the years, providing not only the backbone to the ETN-Network, which today caters to more than four million users worldwide but also to AnyTask.com, supporting 20,000+ sellers across 140 countries. AnyTask.com provides a unique take on today’s freelance platforms, allowing freelancers to get paid in ETN - circumventing the need to have a bank account.

The Electroneum blockchain is powered by the IBFT consensus mechanism and supported by a group of known validators. Prior to the latest ‘Aurelius’ update, Electroneum launched its ‘Proof of Responsibility’ update, in which a group of NGOs were introduced to the validator programme.

This unique approach provided the NGOs with a brand new funding stream, supporting new and existing charitable initiatives. This programme continues to this day, and following the introduction of the ‘Aurelius’ update in early 2024, has expanded to universities and Web3 infrastructure companies.

In summary, Electroneum is a Layer 1 EVM-compatible blockchain with a proven history and a solid founder, company, and group of known validators behind it. Boasting industry-leading capabilities in speed, security, energy efficiency, and cost-effectiveness, any developer or organisation seeking to build blockchain solutions should ideally shortlist Electroneum as a preferred platform of choice.

Top exchanges where you can currently trade Electroneum (ETN) are:

• MEXC
• Kucoin
• HTX
• Gate.io
• CoinEx
• biconomy

If you are new, you can find our simplified guide for purchasing crypto and more exchanges where you can trade here.