Heard of Electroneu?

A recent tweet from Electroneum shows that the community has achieved a total of 4 million registered users on their platform and of course transacting with the ETN token. This shows that Electroneum (ETN) is growing at a fast pace and it is a prove that they are committed to offering blockchain solutions.

Electroneum is a cryptocurrency with huge and genuine usage via a real-world ecosystem and it can be earn and spent in over 140 countries including Nigeria. Interestingly, Electroneum (ETN) has appreciated a large percentage in price in the first quarter of year 2020.

I got to hear of Electroneum sometimes this year when the token could still be mined using their mobile application. Then, I joined the mining programme but unfortunately, I couldn't withdraw my tokens as I didn't mine up to the minimum amount required for withdrawal when the ended the mining programme shortly after I joined.

By then, ETN wasn't really worth much and many who mined only used it for mobile airtime top up. But after the mining programme had ended, it's price appreciated and I saw regrets in the face of some as they didn't hodl. Sometimes, it's better to hold than dump.

A lot has been going on with the project in 2020 and interestingly, it is now possible to pay for electricity bill and water bills in Nigeria, Gambia, Mali & Senegal with ETN as Electroneum just recently introduced this. In consequence, the utility of the coin has been increased and it is good for the coin.

Worthy of note is that, Electroneum has announced a fork as well as a halvening schedule for the purpose of reducing the token rewards inflation by 75%. This halving is scheduled for 22 July at block height 862866.

A 75% reduction of this miner reward means miners now receive about 400 ETN for each validated block. Before this, they received over 1450 ETN for each block.

The halvening will then be taking place every 4 years: 2024, 2028, 2032. I believe the goal is to reduce token's supply thereby leading to increase in coin's price.

Posted Using LeoFinance