Topic: [ANN] [CryptoNightV7] ⚡ Electroneum Classic ⚡ - page 9. (Read 22888 times)

https://i.imgur.com/96ikvTjg.png

⚡ Electroneum Classic ⚡

ETNC

Electroneum without the BS

Website: http://electroneum-classic.com

Features:

 - CryptonightV7
 - 60 second block time
 - 21,000,000,000 total supply
 - Zawy LWMA diff algo
 - No 60% premine
 - No simulation miner


Roadmap:

 - Bulletproofs
 - Mobile Wallet
 - Possible cryptonight-etnc variant?


Why Electroneum Classic:
Electroneum Classic takes Electroneum v2.0.0.0, which is pre-hardfork back to ASICS, and improves it.  
We added Zawy LWMA difficulty algo to prevent hashrate fluctuations and make 51% attacks much harder.
We are sticking to CryptonightV7, with a custom variant of cryptonight a future possibility if new threats arise.

Instead of a hardfork we decided to restart the blockchain from genesis.
This is because Electroneum had a 60% premine of 12.6 Billion coins, with a total supply of 21 Billion.
This is clear dishonesty and there is about ~7 billion unaccounted coins (mined to an untraceable wallet in block 1) from what was stated in their ICO.
The current circulating supply is not 7,309,891,787 ETN as coinmarketcap states but it is ~14.9 billion.


If we hardfork, these 7 billion coins could easily be dumped by the wallet controller.

Why no mobile miner:
The moblle miner is just a simulation that does not have emissions to warrant anywhere near the rumoured 7 billion coins allocated to it.
There are 7 billion coins rumoured to be allocated to the mobile mining simulation, this is 105 million dollars worth of Electroneum at todays price of ~$0.015.
The mobile mining simulation pays out 0.36 ETN per hour at 50 h/s at 120k users, and 0.26 at 50 h/s at 180k users.
If the emissions stay the same, that's (7,000,000,000 / (0.36 * 24 * 120000)) / 365 = 18.5 years.
Basically there is way too much allocated to that pool, as we cannot expect emissions to stay the same as they are,
unless we speculate that Electroneum will not go up in price.
Also this is assuming every mobile miner mines at the maximum allowed speed of 50 h/s.

Stance on ASICS:
Electroneum hardforked back to ASICS because their difficulty algorithm responded very poorly to hashrate spikes,
arbitrage miners would jump on when the NiceHash (~0.15 BTC per 1m/H) -> ETN (~0.48 BTC 1m/H)  ratio was 3+ times and
in this timespan they would mine 3-4x the normal amount of blocks (1 block per ~15 seconds), then the difficulty
would sharply spike 4x, and they would leave for the remainder of the day, so 20+ hours the blockchain would be stuck.
Stable honest miners (24/7 mining ETN) would lose by mining the high difficulty blocks, often taking home much less ETN then calculators would say.

The problem with cryptonight ASICs is that 80% of them are produced by 1 company that is privately held and non-auditable.  
Also there is no way to know how many ASICs are lying in warehouses ready to be turned on to attack any network.  
GPU manufacturers provide inventory counts and sales numbers, they have accountability and fair distribution can be vetted for.

Electroneum is centralisation and decisions made from shareholder interest.
Electroneum Classic is decentralisation, voting and ASIC resistance.


Premine:
5% of total coins (1.05 billion) have been premined in block 1.
3% is for operations encompassing everything from developer salaries to team equity.
1% is for exchange listings.
1% is for airdrops, marketing, PR, and social media.

Use cases:
We want Electroneum Classic to become the go to for private and fast transactions.  
Paying for a coffee, transferring a large balance or even paying for a VPN should be possible within minutes with full privacy.

Road Map:
We are looking to implement bulletproofs as this would reduce the blockchain size and as well as reduce wallet load, exchanges will be happy!
Remote nodes to enable light-wallets (TOR friendly nodes as well)
We also want to push out a mobile wallet to allow easy payments.
Of course threat protection and security is our top priority as well.

Exchanges:

Pools:
https://etnc.pool.yt/ (GERMANY)
https://electroneum-classic.clevery.xyz/ (FRANCE)
http://pool.baikalmine.com/en/etnc/ (RUSSIA)
https://classic.etnminers.com/ (GERMANY)
https://etnc.cnpools.space/ (UNITED STATES)
http://the-miners.de/ (GERMANY)
https://etnc.thepiratemine.nl/ (NETHERLANDS)

Pool Share:
https://miningpoolstats.stream/electroneumclassic
https://www.nicehash.com/marketplace/cryptonightv7

Block Explorers:
https://explorer.electroneum-classic.com
https://etnc-explorer.thepiratemine.nl/

Community:
Discord: https://discord.gg/h86vs4g
Reddit: https://www.reddit.com/r/ElectroneumClassic/
Telegram: https://t.me/electroneumclassic

Wallet:
CLI-Wallet: Use the daemon
GUI-Wallet: https://github.com/electroneumclassic/etnc-gui-wallet/releases
Paperwallet: https://etnc.pool.yt/#wallet
Paperwallet: https://etncwallet.hvs.cx/


Source:
Github: https://github.com/electroneumclassic/electroneum-classic


Troubleshooting:

If your balance is 0.0 but you should have balance, try to restore the wallet from the
mnemonic seed or the private key once the blockchain daemon is online and synced.


We are looking for community manager, air drop and other marketing, contact me please if you are interested!