They have a patent for Instant Transactions Tech. They hired a Monero Dev and have other blockchain experts.
Sounds like a plan, but your statement rises another questions. IF they have a patent how is that decentralized?
Do i understand it right that Electroneum is centralized?
That is one thing that may turn some people off from ETN, is that there are some aspects that are centralized, one big example is the mobile miner.
I would also point out that ETN is a DECENTRALIZED blockchain.
The balance between the two, and getting the best of both worlds, is what I believe will one of the main factors that catapult Electroneum to cryptos first case of true mass adoption.
Some of the benefits of striking that balance are pointed out in the above post quoted here:
i also remember u guys hired an Ericcson engineer?
https://www.linkedin.com/in/andrelpg/
@boxalex, i think that u think in the wrong way (excuse me if i'm wrong),
Do you mean centralize/decentralize or closed source / opensource?
What i am trying to say: ETN is opensource, but like in the whole tech world, some patents are very, very important to secure your business model.
If you want that some technique u create will be able to use in the real world (like instant payments in this way ETN is doing), u must have an patent on it.
Still, every dev in this world is free to create his own technique. So they are blocking nobody on this way, they just secure there own technique what is normall (beter, its very good that they have an patent on this).
Also, what if ETN didnt get a patent on that technique, and what if another team decide to patent it.. ETN would lose there own technique, so before someone else get a patent, you must be first. So yes, it's very good that ETN decide to patent an usefull technique what they created.
I hope u can see it on this way so it makes more sense for you (because i didn't even start about all the positive things about this patent. 1st, they got an stamp on there name in the tech world by this patent)
https://www.linkedin.com/in/andrelpg/
@boxalex, i think that u think in the wrong way (excuse me if i'm wrong),
Do you mean centralize/decentralize or closed source / opensource?
What i am trying to say: ETN is opensource, but like in the whole tech world, some patents are very, very important to secure your business model.
If you want that some technique u create will be able to use in the real world (like instant payments in this way ETN is doing), u must have an patent on it.
Still, every dev in this world is free to create his own technique. So they are blocking nobody on this way, they just secure there own technique what is normall (beter, its very good that they have an patent on this).
Also, what if ETN didnt get a patent on that technique, and what if another team decide to patent it.. ETN would lose there own technique, so before someone else get a patent, you must be first. So yes, it's very good that ETN decide to patent an usefull technique what they created.
I hope u can see it on this way so it makes more sense for you (because i didn't even start about all the positive things about this patent. 1st, they got an stamp on there name in the tech world by this patent)