Electroneum Market Capitalization & Price Ignores Crypto Market Trend!
Last week, Electroneum CEO, Richard Ells announced the launch of their patent pending Electroneum Instant Payment System (IPS) and their KYC/AML process earlier this week.
The Price of Electroneum has increased over the past 2 weeks. The price of ETN shot up from 84 satoshis (.00000084BTC) to 329 satoshis (.00000329BTC) as of now. It is now over the ICO price of 1 cents to just over 2 cents after sleeping for the past year. Its market capitalization ranking increased and is now sitting at position 45 in CoinMarketCap
Electroneum Instant Payment System (IPS)
Electroneum has developed and patented their revolutionary Electroneum Instant Payment System that will enable vendors around the world to start accepting cryptocurrency payments with instant, real-time confirmations.
According to Richard Ells:
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.
Unlike credit card systems where vendors wait days for their money, the instant notification has let them know a cryptocurrency payment has been made. The cryptocurrency will arrive with the vendor in less than an hour in typical circumstances.
With the Electroneum Instant Payment System Vendor API, vendor developers are now able to integrate the IPS into their retail applications and dApps. The 2 most popular ecommerce applications, WooCommerce and Magento, already have plugins developed and available to integrate easily into vendor onlie stores. OpenCart plug in is under development.
Currently a mobile network is integrating the Electroneum Instant Payment System Vendor API in order to allow customers to purchase airtime with ETN. The estimated time of completion is within a few weeks from now. They also plan to give double minutes if a customer purchases with ETN. Stay tuned for the official details!
Having developer tools contributes to exponential growth of any cryptocurrency. So this is a very much welcomed development as Electroneum drives up the mass adoption road.
There is rumour that Amazon has partnered with Electroneum. That is absolutely incorrect. Do your research before copying and pasting rumours. There is no announcement on Amazon’s official twitter account. FAKE NEWS ALERT!
Enjoy your day!
Do you believe Electroneum will be a force to contend with in terms of Mass Adoption in 2019 and beyond?
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Until Next Time…
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