Electroneum ETN - Moving Millions Instantly. A Sneak Peak at the Apple iOS App for ETN Beta
True story:
On the heels of shooting this video I showed my wife how we can use Electroneum’s mobile app to transfer even massive sums of money instantly with ETN, and so cheaply that it’s almost free.
She shot me a pleasantly surprised look and asked, “Why isn’t everyone using this?” I replied, “They will.”
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Expanded on Below:
1. Apple iOS Listing Will Bring an Even Greater Sense of Security
2. All You Need is Your Phone
3. iPhone Users, ETN, & Pareto’s Principle
4. UNLIMITED Transactions Per Second (TPS)
5. Electroneum — Light Years Ahead Now
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1. Apple iOS Listing Will Bring an Even Greater Sense of Security
From utilizing HackerOne to offering cold storage exchange solutions like Liquid, Electroneum has been and continues to be extremely thorough in its security measures surrounding the project. Apple’s approval of Electroneum’s iOS App gives an even greater sense of security because of Apple’s long history of being very strict, and in most cases prohibitive, listing Cryptocurrency apps, wallets, and so on in their App store.
Additionally, this sense of security coupled with the iOS App’s listing — in and of itself — may place more demand on ETN than several partnerships or corporate deals would (see #3 below). The reason is simple and it has to do with the spending habits of iPhone users collectively as a demographic; you see, this is a group that — as a whole — will not be primarily concerned with the mobile/cloud mining feature. Rather, iPhone users by and large will obtain substantial balances of ETN to use as a means of exchange for goods, services, and investment. Of course there will be some small minority of iPhone users who value a mining solution, so the team is working diligently to provide that before fully releasing the app.
For this sneak peak at the Apple iOS App beta we very intentionally decided to do a large transaction to show how easily ETN also works for spending large amounts; and while they are not the target per se (viz. unbanked developing world), iPhone users may very well move significantly more volume of ETN than any other market demographic.
2. All You Need is Your Phone
The same intuitive Electroneum Mobile App that already has over 1 million downloads from the Google App Play Store has now been fully approved by Apple, and as Richard Ells tells us in his most recent interview: He expects the iOS App fully released this quarter. We expect this would mean imminently, especially with the beta performing flawlessly for many months. So all you need is your phone: The mobile app Electroneum has created truly is the key to usability, growth, and adoption.
3. iPhone Users, ETN, & Pareto’s Principle
The metrics of any performance driven space are typically and most often observed to have the top 20% outperforming the entire bottom 80% in that space (viz. Pareto’s Principle). Crypto is no exception; the top 20% of projects by market cap outperform the bottom 80%.
If you take a look at the fact that about 20% of smartphones are iPhones, this may be deceivingly important (i.e. “Why be concerned with that market?”). But we know iPhone users, as a market demographic, spend significantly more money — make more transactions — than the 80% who are other-brand smartphone users.
While true this demographic typically does not represent the individuals in the target demographic of Electroneum (viz. the unbanked); it is not only possible, but highly plausible iPhone users (20% of market) may very well account for 80% of ETN transactions. Even if they do not, the volume of ETN moved by iPhones will still be absolutely momentous because of the consistent history of this demographic’s spending habits.
4. UNLIMITED Transactions Per Second (TPS)
With Electroneum’s patent pending Instant Payment System (IPS), gone are the issues concerning TPS for payment processing speeds. Much the same as a massive exchange processes countless transactions at any given moment; Electroneum’s IPS executes an unlimited number of transfers with a guarantee of deposit confirmed by the blockchain. (Traditional transfers of ETN using conventional blockchain methods without IPS can still be done, but require longer to see confirmation of the transaction.)
5. Electroneum — Light Years Ahead Now
If we take a look at the rate of adoption of ETN we see it is starting to accelerate as Electroneum approaches 3 million registered users. The intuitive mobile app and IPS technology have geared it specifically for mass adoption; Electroneum is light years ahead now, ready to accept institutional investors with corporate products and stay well within the boundaries of regulatory framework.
By combining instant transactions and ease of integration in a single system, Electroneum has made it extremely simple to conduct business whether it be phone to phone, phone to Point of Sale, e-commerce, and so on. The KYC regulatory compliance and IPS integration truly are the perfect complement to each other and a breakthrough in technology, making ETN the fastest and easiest cryptocurrency to use. We are so excited for the upcoming release of Electroneum’s Apple iOS App — truly ETN’s next big step towards mass adoption.
