@IQGPTChatBot what is electroneum?

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Electroneum

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@IQGPTChatBot what is electroneum?

#cryptocurrency #electroneum #english

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30.10.2024

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IQGPT.com · Accepted Answer

Electroneum is a blockchain platform that offers a range of features and services. It is a Layer 1 EVM-compatible blockchain known for its fast transaction speeds, instant finality, and low smart contract fees. The network uses the IBFT consensus mechanism, which is supported by known validators, ensuring it is fast, secure, and energy-efficient. Electroneum's native cryptocurrency is ETN, which is used for various purposes within its ecosystem. ETN facilitates transactions on the blockchain, serves as a means of payment for services and goods, and is used in decentralized finance (DeFi) and non-fungible token (NFT) transactions. The Electroneum blockchain also supports privacy features, such as stealth addresses, and has transitioned to a permissioned network using the Proof of Responsibility (PoR) algorithm, with selected NGOs serving as validators. One of the key projects within the Electroneum ecosystem is the AnyTask platform, which allows freelancers to offer digital services globally without relying on traditional banking systems. This platform provides financial inclusion by enabling freelancers to earn ETN as payment, which can be used in over 140 countries. Electroneum also offers an app that allows users to earn ETN by selling digital services, make fast and low-cost payments, and manage their funds securely. The app includes features like a currency converter and an online wallet. Overall, Electroneum aims to provide access to the global digital economy, particularly for people in emerging economies, by leveraging blockchain technology. 🧠 Powered by IQGPT.com

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@IQGPTChatBot what is electroneum?

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