Major Cryptocurrencies Exchanges Are Now Re-opened For Withdrawals And Deposits of Electroneum After Significant Software Update

From Electroneum’s official social media accounts, we can see that at least 3 reputable exchanges (CoinBene Global, Liquid Global and HitBTC) are now re-opened for withdrawals and deposits of Electroneum after the significant software update and implementation of the new Moderated Blockchain.

So what’s this update all about, you may ask.

Taken from this post:
Ells explains: “Proof of Responsibility brings three new key characteristics to Electroneum’s cryptocurrency ETN, which are benefits to the end user, security and reliability to the exchanges and the those validating the blocks, and to be able to handpick responsible organisations that actually empower people and who will mine the cryptocurrency and by no means attempt to hack the system for personal gain.”

and the game-changing Moderated Blockchain, a very unique open ledger network that enables the highly skilled staff to permanently monitor the system to ensure it is 100% free of any anomaly and when one does occur, crush it immediately and thus prevent a 51% percent attack from every happening.

More info and news can be found here on
Electroneum’s official Facebook Page

Electroneum’s Proof of Responsibility

On a recent email from Electroneum Ltd., some things come up; one of the most interesting thing I would say is the concept of Proof of Responsibility. And as usual, Ells explains it very well.

Super exciting news! We’ve just undertaken a successful fork to an improved blockchain model that we have developed called Proof of Responsibility. This model brings a new level of confidence, security and scalability required to achieve mass adoption.

We have developed our blockchain to:

  • Become one of the few cryptocurrencies that is insusceptible to 51% attack
  • Reduce our block reward (new coin emission) by 75%
  • Increase scalability, confidence and commercial viability
  • Speed up on-chain transactions
  • Involve relevant and influential Non Governmental Organisations (NGOs) in the Electroneum project.

With this development we have engineered two new blockchain processes; Proof of Responsibility and Moderated blockchain. Delivering all the benefits of decentralisation whilst adding new layers of protection.

(A 17 minute video version with even more detail is available here:


If you run a full node (i.e. if you are a technical user or an exchange) you need to ensure you download and use the latest software from our Github library (

If you are a mobile user – no action is required.

Proof of Responsibility

We have moved from Proof of Work (used by the majority of cryptocurrencies) to a new way of mining Electroneum that we call Proof of Responsibility. It is a decentralised network layer that is run by responsible global organisations operating in the developing world that have been qualified to participate. This achieves a number of things:

  • It means that the NGOs get the block reward and they will use it to help the same target people in the countries we are empowering with ETN this year.
  • A huge increase in the security of the ETN network via our highly trusted nodes makes us insusceptible to a 51% attack on our network.
  • Radically reduces power consumption of the Electroneum blockchain making it more environmentally friendly than most other cryptocurrencies. Our new blockchain runs on ONE MILLIONTH of the electricity that it took before!
  • It educates NGOs about the Electroneum project and furthers the legitimacy of all cryptocurrencies by making them valuable to influential organisations.

75% Block Reward Reduction

Each ETN block that gets added to the blockchain releases a block reward. This reward has been reduced by 75%. We had a very large block reward when we launched to encourage hashing power, but we no longer need that enormous hashing power as we’ve launched our new Proof of Responsibility Blockchain. This reduction in output increases the length of time that the block reward lasts for (like Bitcoin, ETN has a finite maximum supply). The remaining 25% of the block reward goes to the new miners on our decentralised layer (see below).

Moderated Blockchain (Additional Security via Highly Trusted Nodes)

We’ve changed the way our blockchain operates to hugely increase the security. We have created a new blockchain model called Moderated Blockchain.

Our moderated blockchain operates two layers:

Layer One: A decentralised layer where our trusted miners operate their mining servers and handle the ETN transactions.

Layer Two: A second layer of highly trusted nodes is operated by us (Electroneum) as a company.

People already trust Electroneum as a brand, they trust us with the instant payment system, the custodial wallet app system and with the KYC/AML system. This blockchain update utilises that trust to add a new layer of highly trusted nodes to the blockchain.

These highly trusted nodes passively monitor the blockchain for unusual or damaging activity and have the power to shut down that activity in seconds.

Liquidation Of Cryptopia

Another dark and sad day for #altcoin as Cryptopia officially announced that they’re being liquidated and appoints Grant Thornton as liquidators.

So many questions, so few answers. One of the biggest question might be why did they allow deposit and disallow withdrawal and later announced this, leaving so many people got furious because of unable to secure their assets.

Speaking about Electroneum, for sure this will drag Electroneum’s price to another lower level.

Bad day indeed!

Electroneum Is Now Available To Trade In South African Rand (ZAR) For The First Time

Electroneum made another important step to reach the unbanked.

Officially announced on Twitter, Electroneum with the focus to help the unbanked, is now listed on South African exchange Artis Turba.

#ETN is now available to trade in South African Rand (ZAR) for the first time. A massive step towards mass adoption in South Africa.

Some of interesting facts about South African:

20% of South African (11.2 million) are unbanked
46% of people in townships are unbanked
30 million South Africans earn less than $70 a month
20% earn less than $30 a month

Electroneum and KYC (Know Your Customer) Common Questions


KYC is coming on Nov 12, 2018 and people are getting reminded everyday by Electroneum through their social media channels. Here’re common questions related to KYC that have been identified and compiled by Electroneum Support Team (Rachel) that’s worth to share here.

Here are some common questions related to KYC:

What do I do if Yoti isn’t available in my country?

You need to go onto 389, go to settings, my profile and scan the QR code (or button if you are on a mobile device) with the Yoti app. Yoti will ask you to add basic information, which is uploaded to our system, then you need to upload an ID to our system so our team can verify.

The app doesn’t have an ID option because my ID doesn’t have an address.

This issue has been resolved. If you are still having an issue, please raise a support ticket at 102, which will we change to basic.

I don’t have a tax number.

Your tax number is your Social Security number or National Insurance Number. This will be the number you use for tax, government benefits, etc.

My ID doesn’t have a gender on it.

This issue has been resolved. If you are still having an issue, please raise a support ticket at 102

I don’t have any bills in my name or current address

We will accept forms of ID if you do not have any bills, but if you do have bills in your name, then those need to be uploaded.

The Yoti is not currently available in my country’s playstore

We are working with Yoti to make the app available in every country’s playstore

Why do I need to do KYC?

We have KYC in place to comply with EU regulations

Yoti won’t allow me to upload my ID

You need to contact support ( 102) to make sure you can do a basic Yoti. You will need to fill out some basic information on Yoti (after scanning the QR code on my.electroneum), and then upload your ID onto 389.

What levels of KYC do I need to do?

Everyone must complete level 1 of KYC. Level 2 is for people using up to 150€ to 10,000€ worth of ETN every 3 months. Level 3 is for those using above 10,000€ (unlimited €) worth of ETN every 3 months.

Do I need to redo KYC once I’ve completed it?

No, you only need to do the KYC levels once, unless you are required to.

What documents do I need to upload for level 1, level 2 and level 3?

Level 1: you do not need to upload any documents, but you do need to enter your name, country and time zone.

Manual ID upload: Your identity document must be less than 10 years old and will be used to verify the information that you have already provided.

We can accept the following types of documents:

  • Driving Licence
  • Passport
  • Government issued identity card

Details that confirm your name, current address and identity should remain non-redacted and legible.

Only copies of documents that are plastic and that contains a photograph of yourself will be accepted.

Level 2: Your supporting document must be less than 3 months old and will be used to verify the information that you have already provided.

We can accept the following types of documents:

  • Bank statement
  • Utility bill (gas, electric, broadband or satellite/cable TV only)
  • Government issued tax statement
  • Government issued benefit statement
  • Government issued state pension

Details that confirm your name, current address and identity should remain non-redacted and legible.

Level 3: Your document should be less than 3 months old and will be used to verify the information that you have already provided.

We can accept the following types of documents:

  • Recent payslip (or recent accounts if self employed)
  • Letter from employer indicating salary
  • Recent bank statement

Details that confirm your name, current address and identity should remain non-redacted and legible.

It can take up to 10 working days for documents to be reviewed.


Electroneum Skyrockets 174% in a Week

Interesting article by about the mooning of Electroneum.
Price-wise, in just the last 24 hours, ETN rose 32.38 percent in price (and 173.96% in just a week!)

Not to forget, now ETN is currently holding the rank of 49 on CoinMarketCap.

Electroneum Announces Instant Payment BETA Vendor Application

In the video you can see an instant cryptocurrency payment of ETN being made between the Electroneum smart phone app and two different types of ePOS (electronic point of sale) devices. The first is a tablet based system that is used at festivals and restaurants to provide a checkout process for bars or table service. The second is a conventional point of sale till.

The instant payment system also works between mobile phones, allowing payments to be made in undeveloped countries (or anywhere in the world) between mobile phone users, without having to wait for frustratingly slow blockchain confirmations.

The integration of ETN to the ePOS systems was surprisingly easy to achieve thanks to our new Vendor API system.

The Vendor API system provides instant notification that a payment has been made. Our API has webhooks for ecommerce, allowing our servers to “PUSH” notification to an ecommerce shop via a URL provided by the vendor (in a similar style to a Stripe credit card integration). It also has a “PULL” notification for ePOS systems behind a firewall, allowing them to poll our API gateway asking if a payment has arrived.

The vendor does not get the cryptocurrency instantly, but our system acts as a trusted 3rd party to ensure the ETN or other cryptocurrencies such as Bitcoin is sent (our patent covers ETN, Bitcoin and other cryptos). The vendor knows the payment is sent and will make its way to the blockchain, so they can allow instant checkout – and the customer can walk out of the store with their cup of coffee or checkout online etc.



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