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Cryptocurrencies | Electroneum

It’s been a while that I’ve been thinking about getting back on track, and start writing again. I was looking for an inspiration for a couple of days,but today suddenly a notification popped out and gave me enough of that to start.

Have you seen this? said Mohammad

after I checked the link, I was like: holly $#%&.

Note : If you’re familiar with the cryptocurrencies, skip the rest and go to this link and get Electroneum now. Asking why? Because Electroneum is the first cryptocurrency that has managed to get over 30 million dollars investment and It’s a growing cryptocurrency, so It’s a great decision to buy 100+10% Bonus Electroneum for just 1$ . But if you are not familiar with the term “cryptocurrencies” , then grab a tea, coffee or something and read this article till the end. I’ll cover the basics and general subjects but mainly Ill be talking about Electroneum . If this article gets enough impressions, I’ll continue to explain more in depth.

As I’m writing this article you have 1 days and 8 hours to join the special token sale on Electroneum so time is running out. Let’s talk about cryptocurrencies.

What is Cryptocurrency?

There are lots of resources out there talking about cryptocurrencies and definitely they are better storytellers than me so I found this well-written definition of cryptocurrency from cryptocoinsnews :

A cryptocurrency is a medium of exchange like normal currencies such as USD, but designed for the purpose of exchanging digital information through a process made possible by certain principles of cryptography. Cryptography is used to secure the transactions and to control the creation of new coins. The first cryptocurrency to be created was Bitcoin back in 2009. Today there are hundreds of other cryptocurrencies, often referred to as Altcoins.

What can you buy with it?

Well, literally you can buy anything. Even in some case there are lots of physical stores you can spend bitcoin or other cryptocurrencies, but mainly It was made to deal digital stuff online. But nowadays you can use it to book a hotel in another continent without any other payment methods included. It’s good to know that there is some ATM machines that you can directly put your card in and get some cash.

The fun thing about cryptocurrencies is that there are lots of them out there but the .com of a day is Bitcoin. There are other cryptocurrencies though, and I’ve listed some of them down here ↓

Litecoin (LTC)
2. Ethereum (ETH)
3.Zcash (ZEC)
4. Dash

Note : As you are reading this article, It’s good to know that 1 single bitcoin equals to 5525.00 US Dollar and there a was this lucky guy named “Koch” that bought 5000 bitcoins in 2009 for just 27 bucks :)).

BlockChain

Let’s go back in time and see what is blockchain and how it changed our life.

Blockchain is an ingenious invention of a team/individual under the nick name of Satoshi Nakamoto. to be exact, blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions.Originally It’s a digitized version of accounting method for virtual currencies such as Bitcoin. So by now you should have somehow got the concept of a Blockchain. Blockchain is made up of Blocks. A block is the ‘current’ part of a blockchain, which records all of the recent transactions. Once completed, a block goes into the blockchain as a permanent database. Each time a block gets completed, a new one is generated. There is a countless number of such blocks in the blockchain, connected to each other (like links in a chain) in proper linear, chronological order. Every block contains a hash of the previous block. The blockchain has complete information about different user addresses and their balances right from the genesis block to the most recently completed block. This is how other cryptocurrencies have been developed. They use blockchain.

So, What is Electroneum and why is it important?

I found this explanation on their official forum written by a guy named Mathias Hansen who is a global moderator on the forum:

It targets the masses, the people without knowledge of Cryptocurrency, now finally have a shot at obtaining one, without having to worry about wallets, mining rigs or setting up your computer with technical know-how just to mine, and keep the coins. While you’re mining on your app, which can be done from the background, you gain currency to your wallet which is set up for you inside the app. If you choose to play the game incorporated in the app, you get additional coins, and you learn a good amount of stuff about Cryptocurrency, how it works on a basic level, and gives you the knowledge and skills to mine on your computer with the dedicated program thats in development. The program allows people to easily mine without much hassle or technical knowledge.
In the future of the coin, gaming and gambling markets will be targeted, used as a form of currency where you can “sell” the hours you’ve spend on your, lets say character in World of Warcraft, while the entry and exit fees you pay, to legally get in or out, get allocated to the company behind. This is a win-win for both parts.
Likewise the coin is targeting the massive amount of people without a bank account, but with smartphone and/or internet access. There are tens of millions of such people, who could use cryptocurrency for storage of value or payments. Everyone wants to see mass adoptation for a cryptocoin, and then they will probably jump on the wagon for a lot of proposals. Likewise Bitcoin only have 3 million users; Electroneum wants more than that, which will give the team behind a lot of possibilities for usage of the coin around on the markets.

And that’s it, you can find more information on the official forum of Electroneum or you can just join the official English telegram group of Electroneum through this link.

Also there are other official groups for telegram users in different languages, that I’ve provided the links down here :