Airdrop Alert: Electronero are Forking Electroneum and Splicing it with Monero


Review overview

Ease of Entry10
Financial Reward5
Aim of Project9.4
Use of Token9.4


Overall i think this has the potential to be a huge airdrop. Obviously I have no way of knowing the financial value of the tokens upon their distribution.

First off, I am guessing you are wondering what Electronero is, well, I will do my best to give you a quick roundup. Basically put, Electronero is a fork of the British based cryptocurrency, Electroneum, with added securities and a solid focus on the technological development of the blockchain, opposed to the marketing oriented focus which many members of the Electroneum community have become vocally frustrated with.

While the Electronero coin is set to be a fork of Electroneum it is also set to, in my opinion, add some much needed technological advancements to the blockchain by essentially splicing Electroneum with Monero to create a hybrid. Hence the name.

One of the main criticisms of the Electroneum network which is to be addressed by the Electronero hard fork is the issue of the huge premine which accompanied the release of ETN tokens. Due to the nature of blockchain tech and, ultimately, cryptocurrency market manipulation the fact that ETN has a premine of 56% (12.6 billion of 21 billion) of its total supply poses a considerable risk for ETN holders as those with access to the premined funds can tank the value of the coin at their own will.

ETNX is addressing this issue by raising the total supply ten times to 210 billion coins, 3% of which is allocated to reward mobile miners and 2% of which is intended to be used to leverage potential dumps from the centralised funds of the ETN team.

As the coin will still be using Cryptonote technology Electronero will be an entirely private and untraceable coin (similar to XMR and ETN) and, due to the development of the ETNX team, it will be (hopefully) ASIC resistant.

Another aspect of the project which I personally find the most interesting is the proposed implementation of smart contracts on the platform. As all of us cryptonians already know, smart contracts are big business and, if the ETNX team can get this aspect right, this is something which could make or break the coin.

Anyway, I will save some of the surprises for another post and let you know how the airdrop/fork will work.

The Fork

The Electronero coin is set to be a traditional fork of the Electroneum blockchain and will occur at the height of block 280,000. When this block is mined a snapshot will be taken of all ETN holders who will be rewarded on a 1:1 basis with ETNX.

After conversing with the developers of the project it is apparent that the best way to claim your coins is by moving your ETN to a paper wallet prior to block 280,000 being mined.

This is due to the fact that the ETN web wallet will not grant you access to your private keys (another aspect of the ETN blockchain which many people are concerned about) and, if your coins are in there, you will not be able to access them until the ETN team decide to approve their community being a part of the ETNX project.

The other option regarding claiming is to move your ETN coins to an exchange which support ETN, however, the problem with this method is the fact that you will have to wait until said exchange lists ETNX – something which could be quick or could be long, no one knows.

So, there you have it, Electronero is a project which as most certainly got me excited so check it out on their links below.

Go to Electronero website
Go to Electronero ANN thread
Read the Electronero whitepaper
Join Electronero Telegram
Follow Electronero Twitter

Please remember that this article is not to be taken as any form of investment advice and that you should do your own research before investing your hard earned cash into anything. We would also like to remind you that Something Decent is not in anyway responsible for the distribution of airdrops, bounties or giveaways unless it is stated that we are personally conducting them