AYFP Cryptocurrency Investors ™

Hi, I hope you are all staying well.

For the second time in a year, we have performed a blockchain fork which has further reduced our ETN block reward emissions by 75%. This move is part of our pledge to maintain ETN's overall token inflationary rate at under 2%, which is similar to Bitcoin's but much lower than most other cryptocurrencies:

Cryptocurrency
Inflation Rate

Bitcoin
1.8%

Electroneum
2.0%

Monero
2.52%

Litecoin
4.25%

Ethereum
4.44%

Dash
6.16%

Ripple (XRP)
20.00%

Zcash
28.19%
Mining reward halvings are a very popular topic amongst crypto enthusiasts because they directly alter a cryptocurrency’s supply. Prior to this fork, the Electroneum blockchain emitted 1450 ETN for each block validated (every two minutes) – this is now 400 ETN until the next halving event in 2024. This effectively means there will be significantly less new ETN emitted into the market, and with less supply, there is often more demand, which is a good thing for the longevity of the Electroneum project.

A new halving schedule, further reducing emission

We have also introduced a halving schedule, in which ETN block rewards will halve every four years from now on, up to a limit of 50 ETN per block. This move will help us to maintain our pledge to keep ETN inflation to less than 2%.

And yes, whilst this does reduce the amount of ETN earned by the NGO miners, we must stress that we are not a charitable organisation. Our first priority is to the overall success, adoption, and longevity of the Electroneum project.

We work with trusted NGOs as they provide security to our network, whilst they benefit from the ETN block rewards to further enhance their charitable initiatives. We will continue to support and work with NGOs in other ways to help maintain the growth they have seen thus far, whilst continuing to expand Electroneum’s reach to people in developing regions.

New trusted miners coming on board

As we move forward from here, you will begin to see us expand the set of trusted blockchain validators to include a more diverse range of entities, such as universities. We are fully confident in the security that Proof-of-Responsibility (PoR) provides that by expanding the group of trusted miners this will only help to further secure the blockchain and increase decentralization.

Last week’s electricity top-ups launch

In an unprecedented move within the crypto industry, last week we became the world's first cryptocurrency to enable electricity top-ups in four African countries - Gambia, Senegal, Nigeria, and Mali.

With mobile top-ups becoming ever more prevalent with over 188,000 to-date, the enablement of electricity top-ups makes earning ETN on AnyTask.com even more appealing. Not to mention the recent launch of ETNeverywhere.com, which gives the details of nearly 2000 outlets currently accepting ETN.

Over the coming months, you’ll see more countries covered as we negotiate to bring on utility top-ups in South America, South East Asia, and the Middle East. We are also working on many more direct collaborations to enable ETN to be spent around the globe in lots of exciting new markets.

4 Million users and counting

I’m so incredibly excited to also mention that we have hit more than 4 Million users worldwide! This is an incredible figure to hit in less than three years and we have you, the Electroneum community, to thank for it.

Please note, this figure has already been filtered to remove bots.

With our success in mobile top-ups, the massive uptake in freelancers earning via AnyTask, and now the launch of electricity top-ups, we’re continually demonstrating why Electroneum has more real-world adoption than virtually every other cryptocurrency project out there.

The fact we’ve now passed 4 Million registered users and are still showing strong growth after the ETN rewards were switched off is simply a testament to this. Here’s to another three years of growth and opportunity!

All the best,

Richard Ells
Founder and CEO | Electroneum
Electroneum, Lyndean House, 30-34 Albion Place, Maidstone, Kent ME14 5DZ, United Kingdom

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