Electroneum
Crypto Overview
Overview
Electroneum (ETN) is a mobile-focused cryptocurrency launched in 2017 that aims to facilitate digital payments in developing countries. The project implements a modified version of the CryptoNote protocol with a focus on mobile accessibility and micro-transactions.
Purpose and Utility
The primary stated purpose of Electroneum is to provide a digital payment solution for the unbanked population, particularly in developing nations. The project emphasizes mobile mining (though this feature was later modified) and easy-to-use mobile payments.
Current Usage and Adoption
Electroneum has established partnerships with various mobile network operators and has developed a mobile app that allows users to send and receive payments. The project has also launched AnyTask, a freelance platform that enables users to earn ETN through providing digital services.
Business Model Analysis
The business model focuses on facilitating legitimate commerce and payments, which aligns with Islamic principles. The project does not involve interest-bearing mechanisms or gambling features. The token serves as a medium of exchange for genuine goods and services.
Development Activity
The project maintains regular development updates and has evolved its offering over time, including the launch of the AnyTask platform and various partnerships with mobile operators. The team continues to work on expanding the ecosystem's utility.
Token Distribution
The initial token distribution included a public ICO, with tokens allocated to development, marketing, and advisors. The project has implemented measures to prevent market manipulation and maintains transparency in its operations.
Crypto Impact
To assign a comfort level investing in Electroneum from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Electroneum.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.