Although the crypto industry is not yet out of the bear woods, various developments and enhancements keep arising. It is evident that only the strong tokens rooted in some tangible asset will survive eventually. Electroneum, ETN, is among the top-ranked tokens striving to achieve global adoption.
Recently, the Electroneum CTO, Barry Last, was speaking a video interview with Toby Knight, the manager of Solutions Architecture at Amazon Web Services (AWS). During the discussion, they expounded on many things including how Electroneum will operate on AWS.
Around 95% of adults in North America own a bank account by the age of 25. On the other hand, only 52% of their counterparts in developing nations have bank accounts. Cryptos can offer a platform for millions of the unbanked people around the world to achieve financial freedom. The digital currencies will introduce a level financial playing field expected to empower everyone equally.
Real Life Electroneum Use Cases
Electroneum developed its crypto mobile back end on AWS. It is now utilizing the power of blockchain to gradually unlock the global digital economy for millions in the developing nations. The company’s mobile app enables ETN customers in developing nations to transfer the ETN tokens (exchange-traded notes) and pay for goods and even services using their Smartphone.
The company takes mass adoption seriously aiming to establish as a stable currency. The fully branded, affordable, Google Approved Android smartphone that is pre-loaded with ETN is readily available to the interested customers. In the case of partnering with AWS, Electroneum’s app uses a feedback loop all its web servers and a web application firewall (AWS WAF). The loop automatically blocks all malicious actors.
Then, this system uses Athena, enhanced with a gamified approach, to offer an extra impermeable layer of blocking. The extra layer prevents the occurrence of DDoS attacks. Electroneum finally unveiled its serverless, instant payments system using AWS Lambda, AWS API Gateway, and Amazon DynamoDB. The payments system is designed meticulously to help customers avoid the normal delays in confirming crypto transactions.
Therefore, through the partnership, ETN will solve the issue of connecting the unbanked people to the global digital economy. That is a secret strategy to gain mass adoption.