A Layer 1 EVM-compatible blockchain combining five-second block finality, low transaction fees and smart contract support with an established mobile-first crypto history.
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Reward scheduleElectroneum Smart Chain creates ETN through validator block rewards and burns the base gas fee paid for transactions. The network uses modified IBFT consensus with approximately five-second block intervals. Historical CryptoNote/PoR mining and reward schedules belong to the legacy chain and should not be treated as current Smart Chain mining data.
Protocol facts reviewed 2026-11-09. Live readings refresh separately.
Electroneum began as a Monero-derived cryptocurrency in 2017. After several protocol changes, its legacy blockchain was succeeded by the EVM-compatible Electroneum Smart Chain in March 2024. The modern network uses a separate go-ethereum-derived implementation with modified IBFT consensus.
Code fork · 2017
Electroneum's original CryptoNote-based blockchain was derived from Monero's codebase. Electroneum subsequently introduced its own protocol modifications and removed the original Monero privacy features.
Successor / migration · March 2024
The legacy CryptoNote-derived network was succeeded by the Electroneum Smart Chain, introducing EVM smart contracts, a modified IBFT validator consensus system and five-second block finality. Existing ETN balances could migrate through a bridge to the new chain.
Additional context for this history.
Electroneum (ETN) is a Layer 1 blockchain project founded in 2017 by British entrepreneur Richard Ells. Originally developed around mobile cryptocurrency accessibility and everyday digital payments, Electroneum has evolved into an EVM-compatible smart contract network supporting developers, decentralised applications and on-chain transactions.
The project began with a CryptoNote-derived blockchain and became known for its mobile-focused cryptocurrency ecosystem. Its development later included Proof of Responsibility validation before a major transition to the Electroneum Smart Chain in March 2024.
The current network uses a modified Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism with an authorised validator set. It targets approximately five-second block production and single-block finality, offering predictable transaction confirmation and low network fees.
Electroneum Smart Chain supports Ethereum-compatible tools and smart contracts, enabling developers to build applications using familiar EVM infrastructure. ETN is the network's native cryptocurrency and is used to pay transaction fees and support blockchain operations.
With a history extending back to 2017, Electroneum combines an established cryptocurrency community with a modern Layer 1 infrastructure strategy focused on practical blockchain applications, developer accessibility and energy-efficient network operation.
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