Thread by @ifyouc1

[ALTCOIN SUNDAY]
Every Sunday, I will publish research on an #altcoin

My first topic of research: @electroneum $ETN.

Thanks to @Anth0nyHarris0n and @Prashan31213832 for the recommendation that prompted this research.

Here we go! And no, I'm not paid to shill. (1/15)

TL;DR: $ETN is an adaptable, scalable, mobile-friendly #cryptocurrency . There are some pros and cons, but the pros outweigh the con and somehow justifies it. I'm going in halfsies for now.

Read on for more details 👇 (2/15)

The best way to understand $ETN is to essentially look at $LTC, but apply a sleeker, mobile-friendly, and corporate look to it. (3/15)

From my understanding, $ETN blockchain is similar to that of $BTC blockchain (perhaps the tech was derived in the beginning), but with an added layer of moderators.

Yes, it's a moderated Blockchain.
Cue the angry screams about decentralization.
But... (4/15)

But it makes sense.
$ETN is created to become online cash, for fast, instant transactions. That means that initial moderations at block production are necessary so that the confirmation time at the moment of usage can be as fast as possible.
These moderators are NGOs. (5/15)

This effectively prevents any scam attempts such as Blockchain spamming, 51% attack, and network hogging.

The moderation also enforces all miners to mine even the smallest of the blocks. That's really what enables the near-instant transactions. (6/15)

There are thousands of vendors globally that accept $ETN as a payment method. Granted, most of these are online services and for mobile top-up. It seems like this is driven due to their partnerships with mobile service providers.
A few offline shops take $ETN too. (7/15)

But I've heard of so many other #altcoin with similar logic and mission. So what makes $ETN any different?

What struck me the most is the level of activities @electroneum has when it comes to development and deployment. (8/15)

$ETN provides API for vendors, and an app to pay and mine $ETN.

Maybe in the earlier days, it was different, but now to mine $ETN, you would have to complete some development tasks. So the appropriate name is given - Rewards.

But mining a Top 100 #altcoin is never easy. (9/15)

Another dev for $ETN is the launch of the #Electroneum_M1 Smartphone. I'm a bit wary using the word "Smartphone", because the phone is super low-spec.

But the M1 isn't a competitor to an #iPhone11 or #GalaxyS20Ultra. It's an affordable phone for developing countries. (10/15)

At the price tag of around $80, and currently on sale in #Cambodia, it's about 10% of the country's average monthly income. So it's not THAT cheap, but it's affordable.

M1 can also mine a few $ETN through cloud mining. I'm not sure about the ROI, though. (11/15)

Overall, what @electroneum has accomplished so far is impressive. I always love it when a #crypto company continues to roll out solutions and products that will generate revenue for the business.
This way, the token value isn't solely dependent on the market. (12/15)

Yet there are some tasks remaining for @electroneum, such as getting more vendors on board (offline ones) and perhaps allowing the community to become a part of a public council that determines who gets to become a moderator.

This way, you invite more decentralization. (13/15)

In terms of the $ETN token, I am semi-long.

The project is pursuing active listings on major exchanges, other than exchanges it's already on - like @kucoincom and @HuobiGlobal .

The community seems interested and strong.
So I'm carefully going in for a mini bag. (14/15)

And that's the end of my initial report on @electroneum $ETN!

Would love some feedback. If the team at #Electroneum directs me to their whitepapers (couldn't find on the website), I can do a more in-depth analysis on another Sunday.

Peace out, homeboys (and girls) ✌️ (15/15)