Founding Father of Blockchain Praises Electroneum

Founding Father of Blockchain Praises Electroneum

Brief Blockchain History

In 1991 the first cryptographically secured chain of blocks was created by W. Scott Stornetta and Stuart Haber.

Scott Stornetta is a brilliant cryptographer. His name was quoted in Satoshi Nakamoto’s white paper for Bitcoin.  Satoshi Nakamoto is a person (or as speculated, a group of people) who was the first to conceptualize blockchain.  

W. Scott Stornetta

There has even been some belief that the Japanese-speaking visionary Stornetta may himself be the anonymous crypto inventor. Therefore, it was quite a big deal that one of the “founding father of blockchain” has praised Electroneum.

Scott Stornetta complemented the company’s mobile-based cryptocurrency projects. He highlighted the fact that the company’s long-term goals go beyond profit maximization and how they aim to create a better world for everyone.

Electroneum is a company that dates back to 2015. Richard Ells, the CEO of the company, has always thought of bitcoin as a way to change the world for the better. Most of the people surrounding him would not understand the complexity of cryptocurrency.

He wanted to make it easier for everyone to understand. He wanted everyone to use blockchain technology.  Thus, his company aims to unlock the global digital economy for millions of people in the developing world. 

 Upon reviewing, Electroneum Stornetta expressed his content by how the company aims to deliver value for its end-users. He highlighted the fact that mostly, this is not the case with other companies.

This pure motivation is not common among other startup cryptocurrency projects. Electroneum’s appeal is in how it is trying to create real use cases for people that have not experienced the cryptocurrency.

Therefore, the company works on co-existing with the regulatory environment rather than attempting to overturn it.

Global Blockchain Adoption Projects


 In addition, according to the World Bank, approximately 1.7 billion people around the world are unbanked. The term means that people do not have access to everyday financial services.

Electroneum says that it aims to benefit everyone, especially the unbanked population. The company can reach a fifth of the world’s population. Best Deep Fake Porn hentai Videos for watch online. 

Thus, the masses will have the chance to use digital payments for the very first time. Electroneum plans to unlock new demand and revenue streams. Everyone could improve accessibility in his or her communities.

One of the most important factors is that Electroneum is ready to embrace regulation. This move (spreading blockchain on governmental level) has been a crucial part of its strategy.

The payments platform reports rapid levels of user growth in the past year. Electroneum has more than 3.2 million registered users. Its apps are available via Google Play and Apple’s App Store.

 Electroneum vs Bitcoin

Bitcoin and Electroneum are both cryptocurrencies, but they serve different purposes. Bitcoin is the first cryptocurrency, aimed at being a decentralized digital currency and a store of value.

It uses a secure, energy-intensive proof-of-work algorithm. Bitcoin is widely recognized and leads in market capitalization and user base.

Electroneum targets mobile accessibility and microtransactions. It focuses on mobile gaming and online gambling markets. Its algorithm is less energy-intensive, allowing mining on smartphones and less powerful devices.

This approach seeks to increase adoption among those without traditional banking services. Electroneum emphasizes ease of use and privacy, but it lacks Bitcoin’s security and recognition.