The British-developed cryptocurrency, Electroneum, will today launch in the UK following the successful Worldwide ICO (Initial Coin Offering) by crowd funding participation of over 120,000 investors, which raised $40 million (£30m) over a six week campaign. Electroneum’s currency aims to offer a simple and secure way of making instant transactions within the online gaming and gambling sector.
Built on its own blockchain, Electroneum has been designed to be a user-friendly cryptocurrency with wallet management and coin mining all streamlined through the mobile app.
Electroneum has been founded with the aim of becoming the new, easy and secure way of buying mobile games, betting on live sports and sending money to friends.
The past two years have been ground-breaking for the cryptocurrency market, with Bitcoin proving to be incredibly valuable. However, its market share has started to shrink as new alternatives have come to light. Aside from the growth of Bitcoin, one thing that hasn’t changed is how difficult these currencies are to get hold of, trade in and spend.
Richard Ells, CEO and Founder of Electroneum said:
The past couple of years has seen a significant shift within the cryptocurrency market, with Bitcoin increasing its value at an exponential rate in 2017 alone. However, Bitcoin can be difficult to get hold of, trade in and spend. Therefore, I realised that the world needed a cryptocurrency that is easy to access and can be used by everyone. That’s where the idea for Electroneum was born.
Electroneum has increased its appeal to the average consumer by capping the total number of coins at 21 billion, compared to Bitcoin which is capped at 21 million. Cryptocurrency is well known for being a volatile but lucrative market for investment, and Electroneum represents such a technological change that it’s already attracted a lot of attention from the ICO.
Cryptocurrency presents an intriguing investment opportunity due to the lucrative prospect of the market. In the first half of 2016, the average return on investment of 100 new coins launched was 357%. To ensure Electroneum follows this trend, the cryptocurrency is developed and managed by a tight-knit, single-minded group of British developers who have put accessible and easy to use at the forefront of this cryptocurrency, Richard Ells added.