What is Electroneum (ETN)

1. Project Introduction
Electroneum is a Layer 1 EVM-compatible blockchain designed to serve over 4 million users worldwide. The network boasts a 5-second block finality, near-instant transaction confirmation, and some of the lowest smart contract fees in the industry. It utilizes the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism and is backed by prominent validators from academia and Web3 infrastructure providers. For years, Electroneum has been the backbone of AnyTask.com, a freelance platform leveraging blockchain to create a more equitable and efficient experience for global freelancers.
Summary:
In early 2024, Electroneum launched the "Aurelius" upgrade, transitioning to an EVM-compatible Layer 1 blockchain. With industry-leading speed, security, and efficiency, the network supports smart contracts at potentially the lowest cost in the market. Transactions are finalized in just five seconds using the energy-efficient IBFT consensus model and are validated by reputable institutions.
2. Team & Investment Info
Founded in 2017 by British entrepreneur Richard Ells, who also owns Retortal—a social media management platform for direct selling companies—and co-founded the digital agency SiteWizard, where he still serves as a director. In 2019, he launched AnyTask.com, a successful crypto-powered freelancing marketplace.
Funding:
October 2017: Raised $39.93 million through an ICO.
3. Social Media URLs
X: https://x.com/electroneum
Telegram: https://t.me/officialelectroneum
Discord: https://discord.com/invite/QkU7yCbc
4. Token Info
Token Symbol: ETN
Total Supply: 21,000,000,000
Token Type: Native token on the ETN Network
Issuance/Burn Mechanism: Fixed supply
Contract Address: https://blockexplorer.electroneum.com/
Token Distribution:
No public token allocation or release schedule information available.
5. Related Links
Official Website: https://electroneum.com/
White Paper: NA
Other Info: https://medium.com/@ETN-Network