Electronero (ETNX) Crypto Hard Fork of Electroneum Uses CryptoNote & is ASIC Resistant
Monero is one of the most reputable cryptocurrency out there that is acclaimed for security, privacy, and untraceability. Electroneum currency, which also borrows a lot of functionality from Monero and Electronero is forking off it.
A hard fork, as it relates to blockchain technology, is a radical change to the protocol that makes previously invalid blocks/transactions valid (or vice-versa). This requires all nodes or users to upgrade to the latest version of the protocol software. Put differently, a hard fork is a permanent divergence from the previous version of the blockchain, and nodes running previous versions will no longer be accepted by the newest version. This essentially creates a fork in the blockchain: one path follows the new, upgraded blockchain, and the other path continues along the old path.
The idea of creating a fork from Electroneum emerged from the ETN community as there have been growing concerns of the lack of support from the developers, issues regarding deposits and transfers, the flooding of new CryptoNight ASIC miners on the market. The growing cryptocurrency market and the millions of users, therefore, requires a lot more technical support than currently provided which explains the basis for this project; providing a state of the art platform for ETN users by creating a fork that would truly answer the needs of the community.
Electronero started out as an educational project but has since started making an impact in the cryptocurrency industry. Their leadership is positive that the introduction of Ring Confidential Transactions and setting minimum transaction mixins to 12 can make Electronero a powerful altcoin in the near future. This unique feature is enough to develop instill public interest in people.
Even though this doesn’t guarantee that in long-term this hard fork is going to pay off, it does show a clear motive by the company to gain more traction in the industry. If you already have Electreneum as part of your portfolio, an airdrop is worth looking into.