ETN
Electroneum
$0.0₃8395
0.14%
Electroneum
ETN
$0.0₃8395
0.14%
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About Electroneum
Electroneum (ETN) is a Layer 1 EVM-compatible blockchain known for its swift transaction speed of 5 seconds with instant finality, low smart contract fees, and high energy efficiency, using the Istanbul Byzantine Fault Tolerance (IBFT) consensus. It powers AnyTask.com, aiding freelancers globally by enabling payments in ETN, which is especially beneficial for the 1.4 billion people without bank accounts. Created in 2017 by Richard Ells, ETN has expanded its use to over 4 million users and supports various charitable and educational projects through its validator program.
Electroneum is a Layer 1 EVM-compatible blockchain, catering to 4+ million users worldwide. The network boasts transaction speeds of 5 seconds with instant finality, and low smart contract fees. Powered by the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism and supported by known validators - targeting universities and Web3 infrastructure companies - the network is fast, secure and energy efficient. For several years, ETN has provided the backbone for AnyTask.com, helping the platform take advantage of blockchain technology and deliver a fairer, more efficient experience for freelancers globally.
In early 2024, Electroneum initiated its ‘Aurelius’ blockchain update, becoming a Layer 1 EVM-compatible blockchain. The network boasts industry-leading speed, security, and efficiency having implemented a unique take on the IBFT consensus mechanism, supported by known validators. 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 15,000+ professionals 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 approach provided the NGOs with a brand new funding stream, supporting new and existing charitable initiatives. Following the introduction of the ‘Aurelius’ update in early 2024, this programme has expanded to universities and Web3 infrastructure companies.
Electroneum Ltd. was founded in 2017 by British entrepreneur, Richard Ells. He is also the owner of Retortal, a social media management platform designed for businesses in the direct selling industry, and SiteWizard, a digital agency which he co-founded and where he serves as a director. In 2019, he founded AnyTask.com - a freelance platform in the crypto space.
