Electroneum

Electroneum is a Layer 1 EVM-compatible blockchain, catering to 4+ million users worldwide. The network boasts transaction speeds of 5 seconds with instant finality, and low smart contract fees. Powered by the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism and supported by known validators - targeting universities and Web3 infrastructure companies - the network is fast, secure and energy efficient. For several years, ETN has provided the backbone for AnyTask.com, helping the platform take advantage of blockchain technology and deliver a fairer, more efficient experience for freelancers globally.

In early 2024, Electroneum initiated its ‘Aurelius’ blockchain update, becoming a Layer 1 EVM-compatible blockchain. The network boasts industry-leading speed, security, and efficiency having implemented a unique take on the IBFT consensus mechanism, supported by known validators. The network has proven to be effective over the years, providing not only the backbone to the ETN-Network, which today caters to more than four million users worldwide but also to AnyTask.com, supporting 15,000+ professionals across 140 countries. AnyTask.com provides a unique take on today’s freelance platforms, allowing freelancers to get paid in ETN - circumventing the need to have a bank account..

The Electroneum blockchain is powered by the IBFT consensus mechanism and supported by a group of known validators. Prior to the latest ‘Aurelius’ update, Electroneum launched its ‘Proof of Responsibility’ update, in which a group of NGOs were introduced to the validator programme.

This approach provided the NGOs with a brand new funding stream, supporting new and existing charitable initiatives. Following the introduction of the ‘Aurelius’ update in early 2024, this programme has expanded to universities and Web3 infrastructure companies.