Electroneum ETN / Electroneum

## What Is Electroneum (ETN)? Lighting Fast – 5 second finality. Sustainable – Eco friendly validator system. Ultra Low Cost – Ludicrously low transaction fees. Layer 1 – EVM compatible smart contracts.

Electroneum is an eco-friendly Layer 1 EVM-compatible blockchain, catering to 4+ million users worldwide. The network boasts transaction speeds of just 5 seconds with instant finality, and potentially the market’s lowest smart contract fees.

Powered by the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism and supported by known validators - targeting universities, foundations and Web3 infrastructure companies - the network is incredibly fast, secure and energy efficient.

As one of the most eco-friendly layer-1 blockchains available it is the perfect choice for brands who are conscious of their sustainability and green credentials.

For several years, ETN has provided the backbone for AnyTask.com (one of the most successful freelancer sites), enabling the world's unbanked to earn from their digital skills.

Who Are the Founders of Electroneum?

Electroneum Ltd. was founded in 2017 by British entrepreneur, Richard Ells. He is also the owner of Retortal, a social media management platform designed for businesses in the direct selling industry, and SiteWizard, a digital agency which he co-founded and still serves as a director to date. In 2019, he founded AnyTask.com - a successful freelance platform in the crypto space.

What Makes Electroneum Unique?

In early 2024, Electroneum initiated its ‘Aurelius’ blockchain update, becoming a Layer 1 EVM-compatible blockchain.

With a unique validator system that is operated by NGOs, foundations and other known entities, it is uniquely efficient in terms of electricity use. This enables it to boast of one of the lowest (perhaps the lowest) transaction cost of any layer 1 blockchain AND be a great choice for brands seeking to ensure they partner with a sustainable and environmentally friendly blockchain.

The network boasts industry-leading speed, security, and efficiency having implemented a unique take on the IBFT consensus mechanism, supported by known validators. Transactions on the blockchain take just five seconds with instant finality, meanwhile, smart contracts can be launched and operated at potentially the lowest cost available on the blockchain market today.