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The crypted coin, forked by Monero (XMR), inherited a fatal bug that allowed double spending on the exchange of portfolios. Following a patch-up, the price registered a significant gain.
Electroneum (ETN) saw a sharp rise in prices after the project patched up the "burning bug" inherited from Monero (XMR). It allows an attacker to finance an exchange balance several times, so the platform ends up with the possession of invalid coins marked for attempted double spending. In the meantime, the trade balance could be exchanged for other assets, leaving the operator to bear the losses. So far, no case has been reported in which someone could exploit the error of Electroneum or Monero.
https://twitter.com/electroneum/status/1045057414167515136
When the stock exchanges opened and trades were renewed, the price of the ETN rose from traditionally low levels, rising from $ 0.013 to over $ 0.017 in the last 24 hours. In the last week, ETN prices have almost tripled compared to recent lows of $ 0.007, as the currency has been sent due to lack of support.
Electroneum has been seen as one of the most promising projects, but technical difficulties, freezing of mines and the general bear market have depressed its price.
For users of the Electroneum command line, a manual patch update would be required. For those using the Electroneum app, the upgrade will be performed by the project team in the coming days.
The digital asset ETN is more actively traded on Cryptopia and KuCoin. Volumes increased in the last week, reaching $ 5 million in 24 hours. The activity for ETN increased in September after a prolonged stagnation. In the last week, ETN managed to recover the losses of the last three months.
The ETN is seen as a relatively risky, long-term bet, particularly as simulated mobile mining and app usage continue to increase. From July, the mining activity for Electroneum it has grown considerably, going from around 14 million H / s in July to over 6.3 billion h / s, probably showing the use of ASIC aimed at the network. The Electroneum team initially attempted to disable ASIC mining but eventually chose to allow a larger network with greater difficulty.
Neither the author nor the publisher assume any responsibility for any investments, profits or losses resulting from such information. Trading and investments in cryptocurrency are risky propositions and market participants are advised to always conduct in-depth research.
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