Electroneum unveils massive upgrade to blockchain - inspired by Libra

The Electroneum (ETN) cryptocurrency platform has taken inspiration from Facebook’s Libra and boosted its blockchain security with a new Proof of Responsibility protocol in a massive new blockchain upgrade, revealed on their YouTube channel, July 7.
Electroneum unveils massive upgrade to blockchain - inspired by Libra
In this rather large upgrade, the UK based platform has decided to make the transition away from traditional miners on a public blockchain, to a permissioned blockchain. This transition is going to steer miners away and aims to replace them with charities and other nonprofits. The block rewards have also been drastically reduced.
Up until the upgrade, miners validated blocks on the blockchain in a proof-of-work protocol, much like Bitcoin. Now the mining NGOs are supervised by an automated system of moderator nodes, controlled by the Electroneum staff, on an invitation only to participate basis.
In the video explaining the upgrade, Electroneum CEO, Richard Ells, spoke on the thought process behind the changes to the blockchain and how it is going to benefit it’s 3 million users:
“This a hugely positive step for Electroneum, we have moved the whole project in leaps and bounds and, effectively, it’s opened the door to the future in terms of scalability and lots, lots more.”
Electroneum unveils massive upgrade to blockchain - inspired by Libra Electroneum unveils massive upgrade to blockchain - inspired by Libra Reviewed by Chaudhry on July 09, 2019 Rating: 5

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