[Cryptocurrency] Electroneum News Roundup

johngreenfield (57)in #cryptocurrency • 8 years ago (edited)

The past week has seen many new announcements from the Electroneum team, creating even more buzz around this exciting and promising cryptocurrency.

In case you've been living under a rock the past few months, Electroneum (ETN) is a new British cryptocurrency project that launched back in November 2017. It's a fork of the Monero project, which has a heavy focus on privacy. ETN has seen massive increases recently, with the price around £0.12 at the time of writing this.

Let's run through some of the biggest news stories.

Michael Stollaire - New Technical Advisor Appointed

The Electroneum team have announced that Michael Stollaire is joining them as a technical advisor to assist with the scalability of the business. Michael is known for heading the Verge project, as well as founding and leading a new blockchain endeavour called Titanium Blockchain Infrastructure Services (TBIS), amongst leading the implementation of technical solutions for big name companies such as McDonald's, Apple, Tesla and HP.

One of the major hurdles that Electroneum has been struggling to get over is scalability. At launch, their website and online services were completely unable to cope with the sheer demand for ETN. This is still a problem they're tackling today, and bringing Michael on to the team will bring them one step closer to achieving their goal of global mass adoption.

I'll be posting about TBIS later this week, so follow me and your eyes peeled for that. You can follow Michael Stollaire on Twitter.

ETN Official Mining Pools Closing

When Electroneum launched back in November 2017, the development team released 3 mining pools to allow users to run mining pool software they had developed while the community developed their own mining pools. They specifically gave the pools high fee rates to encourage other pools to be more competitive. As these official pools were only a temporary solution, and the time has come for them to be switched off.

The asia pool is now offline, with the EU and US pools to be retired shortly. All pending coin transactions will be downloaded from each server and paid out manually by the team. They have successfully exported from the Asia pool and plan to pay out all remaining balances, even if the balance is below the payout threshold.

You can still mine ETN from your PC using alternative software and community created mining pools (I have previously posted a tutorial on this, which can be found here).

ETN and Exchanges

The Electroneum Team have officially announced that they are working with NEXT.EXCHANGE to allow you to transact and trade your ETN on the platform. With the recent difficulties that Cryptopia.co.nz have had, this comes as very welcome news.

With help from Michael Stollaire, they are searching for the right exchanges to help the cryptocurrency to grow. I'll be posting more on ETN and Exchanges later in the week, so follow me and look out for that.

What do you think of this news? Are you looking forward to what 2018 will bring for Electroneum? Let me know in the comments down below, and follow me for more Cryptocurrency news, as well as general Internet related posts.