What is Electroneum

What is Electroneum?

Electroneum is a type of Cryptocurrency that is based on the Cryptonight algorithm. A cryptocurrency is a type of money that is digital only and this digital code is stored on any server or anybody’s computer who is using the daemon(client/wallet program). A daemon is a Network Program where all the code is sent/received through, which then allows you to make transactions using a wallet program (daemon). Electroneum cryptocurrency, has a online wallet, the only difference is that the daemon is running on their server, which this makes it a riskier way of storing your coins or making transactions. Why is is more risky on an online wallet is if a hacker compromises the site not only your account information can be revealed, everybody else’s even including the server’s wallet which stores all of the website’s Electroneum (ETN) coins.

 

More information can be found at electroneum.com