Instant payment system

Electroneum (ETN)

Electroneum is a Layer 1 EVM-compatible blockchain, catering to 4+ million users worldwide. Electroneum launched in 2017. It was introduced as a mobile payment solution for the world’s unbanked populations. Central to this ideal is the Electroneum App (see your phones app store), which simplifies the end-to-end cryptocurrency experience, allowing users to easily store, send, receive and spend ETN. The app features a marketplace for third party services, allowing users to spend their ETN on essentials including mobile phone top ups in over 140 countries.


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Electroneum

Electroneum (ETN)

Empowering Financial Inclusion Through Mobile-Friendly Cryptocurrency

Introduction

Electroneum is a UK-based cryptocurrency project launched in 2017 with the aim of providing a mobile-first digital payment solution. Designed to be user-friendly and accessible, Electroneum allows users to earn, spend, and transfer ETN tokens via a smartphone application, targeting the unbanked and underbanked populations worldwide.

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History

Founded by Richard Ells, Electroneum conducted a successful ICO in 2017, raising over $40 million. The project initially forked from Monero to leverage its privacy features and launched a mobile mining application, enabling users to earn ETN tokens directly from their smartphones. Over time, Electroneum shifted focus to a more sustainable model, introducing the Proof of Responsibility (PoR) consensus mechanism in 2019, which selects trusted entities like NGOs to validate transactions, ensuring network integrity and social impact.

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Key Features

  • Mobile Accessibility: Users can manage ETN tokens through a dedicated mobile app, facilitating easy transactions and earnings.
  • Instant Payment System: Electroneum offers instant payment confirmations, enhancing the user experience for merchants and consumers.
  • AnyTask Platform: A freelance marketplace allowing users to offer services and receive payments in ETN, promoting digital employment opportunities.
  • Regulatory Compliance: Electroneum was among the first cryptocurrencies to implement KYC and AML procedures voluntarily.
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Recent Developments

In 2025, Electroneum introduced significant upgrades to its blockchain, transitioning to an EVM-compatible smart chain. This update includes:

  • Permissionless Validator System: Enhancing decentralization by allowing broader participation in network validation.
  • On-Chain Governance: Empowering the community to influence protocol decisions directly.
  • Improved Scalability: Achieving 5-second transaction finality and reduced fees, making it suitable for various applications.
Read the Whitepaper