Electroneum PriceETN

What is Electroneum (ETN)?

Electroneum (ETN) is an eco-friendly Layer 1 blockchain that is compatible with the Ethereum Virtual Machine (EVM). Launched in 2017 by British entrepreneur Richard Ells, the project underwent a major transformation in early 2024 with its "Aurelius" blockchain update, which migrated the network from a legacy Proof-of-Work infrastructure to the Aurelius Smart Chain. The network is designed to serve over 4 million users worldwide, offering transaction finality in just 5 seconds and smart contract fees that are a fraction of those on Ethereum. Electroneum positions itself as one of the greenest blockchains, operating on a model that is 99.9% more energy-efficient than Proof-of-Work systems. The total supply of ETN was capped at 21 billion tokens at launch, with approximately 17.98 billion currently in circulation. The project emphasizes real-world social impact, financial inclusion, and accessible smart contract development.

Key Specifications & Tokenomics

• Name: Electroneum
• Ticker / Symbol: ETN
• Consensus Mechanism: Istanbul Byzantine Fault Tolerance (IBFT)
• Smart Contracts: EVM-compatible, supports Solidity and Ethereum-based tooling
• Category: Layer 1, Medium of Exchange, Wallet
• Max Supply: 21,000,000,000 ETN
• Circulating Supply: Approximately 17.98 billion ETN
• Launch Date: 2017
• Finality: Single block, 5-second finality
• Validator System: Permissioned validators operated by NGOs, foundations, and known entities
• Official Website: https://electroneum.com/
• Block Explorer: https://blockexplorer.electroneum.com
• Developer Documentation: https://developer.electroneum.com/
• CertiK Rating: 4.1 with Audits

Who created Electroneum?

Electroneum was founded in 2017 by Richard Ells, a British entrepreneur who serves as the Founder and CEO of Electroneum Ltd. and the ETN-Network. Ells also owns Retortal, a social media management platform for the direct selling industry, and is co-founder of SiteWizard, a digital agency where he remains a director. In 2019, he founded AnyTask.com, a freelance platform that utilizes ETN as its backbone. The project's blockchain development is led by Chris Harrison, who serves as Blockchain Developer and Head of Blockchain. The broader team includes crypto consultants, senior engineers, and industry experts. Electroneum Ltd. was established with the goal of leveraging blockchain technology for financial inclusion and real-world social impact.

How does Electroneum work?

Electroneum operates as a Layer 1 EVM-compatible blockchain powered by the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism. This system relies on a unique, permissioned validator network operated by NGOs, foundations, universities, and Web3 infrastructure companies. Since 2018, Electroneum has collaborated with these entities to secure the network. The IBFT consensus enables single-block finality within 5 seconds, making it one of the fastest Layer 1 networks available. The network's EVM compatibility allows developers to deploy smart contracts using Solidity and other Ethereum-based tools with minimal configuration. Transaction fees on Electroneum are extremely low, costing less than 0.1% of typical Ethereum fees, which makes the network practical for emerging markets and cost-sensitive applications. The validator system also ensures strong protection against reorganizations and malicious activity while maintaining a highly energy-efficient operation.

What makes Electroneum unique and valuable?

Electroneum distinguishes itself through its combination of speed, sustainability, and real-world utility. The network achieves 5-second finality with instant settlement, making it suitable for applications requiring quick confirmation. Its eco-friendly validator system consumes dramatically less energy than Proof-of-Work networks, positioning it as an attractive option for brands focused on sustainability. The project has a proven track record of social impact, having provided the blockchain backbone for AnyTask.com, a freelancer platform that enables unbanked individuals to earn from their digital skills. Electroneum was the first cryptocurrency project accepted into the GSMA, the global mobile operator trade association, validating its telecom integrations. It is also a founding member of the Digital Pound Foundation, contributing to discussions on central bank digital currencies in the UK. The project has received recognition including third place at the Areté Award 2025 for responsible communication in the art, technology, and sustainability category.

What is Electroneum used for?

ETN serves as the native cryptocurrency of the Electroneum network and is the only form of payment accepted for transaction fees. The token powers all operations on the Aurelius Smart Chain, including smart contract execution and value transfers. Beyond its role as a gas token, ETN functions as a medium of exchange within the Electroneum ecosystem. It is used on AnyTask.com, where freelancers from around the world can earn ETN for completing digital tasks, providing income opportunities for the unbanked. The token also supports mobile top-ups and airtime purchases in emerging markets, connecting blockchain technology to practical, everyday services. ETN holders can manage, store, and transfer their tokens using the Decentroneum non-custodial wallet or through Tangem hardware wallets, which offer native ETN integration and bank-grade security. The tokenomics of Electroneum are designed to support its mission of financial inclusion and real-world social impact.

How Is the Electroneum ecosystem developing?

The Electroneum ecosystem continues to expand through strategic integrations and community initiatives. The launch of the Hyperlane bridge in the second half of September 2025 enables asset movement between Electroneum 2.0 and the broader blockchain ecosystem, enhancing interoperability. Decentroneum, a new non-custodial wallet, provides users with full key control, self-custody, and seamless mobile dApp connectivity. Electroneum is fully live on Tangem, offering native ETN integration with EAL6+ microchip security and a custom card set designed specifically for ETN holders. Developer Workshop 3.0 brought together African builders for hands-on Web3 dApp development on the ETN-SMART CHAIN, fostering grassroots innovation. The project has partnered with the One Ocean Foundation to support the Blue Forest initiative, using low-energy NFTs and transparent on-chain reporting to fund seagrass meadow restoration in the Mediterranean. These developments reflect Electroneum's commitment to building a versatile, sustainable, and socially impactful blockchain ecosystem.

How to mine Electroneum?

Following the Aurelius update in early 2024, Electroneum transitioned away from its legacy Proof-of-Work infrastructure to a permissioned validator system based on Istanbul Byzantine Fault Tolerance consensus. This means that traditional mining, as practiced on Proof-of-Work networks, is no longer the primary mechanism for securing the network. Instead, validators are operated by known entities such as NGOs, foundations, universities, and Web3 infrastructure companies. These validators are selected through a proprietary permissioned system rather than through open competition. This approach eliminates the energy-intensive mining process while maintaining network security and speed. Users who wish to participate in the network's operations can explore opportunities through the Electroneum ecosystem, though validator participation is limited to approved organizations. Detailed public information on validator onboarding is available through the project's official developer documentation.

How to keep your Electroneum Coin safe?

Securing ETN requires careful attention to wallet selection and personal security practices. The Decentroneum non-custodial wallet offers full key control and self-custody, allowing users to manage their ETN without relying on third parties. For enhanced security, Tangem hardware wallets provide native ETN integration with EAL6+ microchip technology, which eliminates seed phrases and offers bank-grade protection in a card format. Users should always download wallets from official sources and verify URLs before entering any sensitive information. It is advisable to store the majority of holdings in hardware wallets and keep only small amounts in hot wallets for daily transactions. Enabling two-factor authentication on any associated accounts, using strong and unique passwords, and being vigilant against phishing attempts are essential practices. Regularly updating wallet software and staying informed about official Electroneum announcements through verified channels such as the project's X account and blog can help users avoid scams and protect their assets.