Einsteinium is a unique cryptocurrency that is designed to fund scientific, philanthropic and technological projects. It token EMC2 functions similar to Bitcoin's proof of work (PoW) algorithm and is combined with a charitable fund.
The EMC2 token is run by its parent Einsteinium Foundation, which was officially launched in April 2017, and is registered as a non-profit organization (NPO) in Montreal Canada, becoming the first research focused NPO in the crypto universe. The foundation's main aim is crowdfunding of different scientific research projects and sharing knowledge and attracting talents into blockchain technology.
Einsteinium funds these research projects from the rewards it received from the mining of EMC2 coins. Under its proof of work mining system, the foundation receives 2.5 percent for every block reward in which 0.5 percent goes towards administration and marketing expenses and rest 2 percent goes toward funding research projects. Einsteinium also represents an open source ecosystem that promotes the growth of functional blockchain environment.
How do projects get funded?
The mining community of EMC2 votes on the funding of most worthy projects and funding is accrued in EPOCH cycle. EPOCH is referred to the time taken to build 36,000 blocks on to Einsteinium public ledger which is around 25 days. After completion of each EPOCH, rewards go to the Einsteinium foundation and from there, funds are allocated to the research projects.
There is a total of 730 EPOCH within which miners receives rewards and as per protocol, the rewards get halved after each EPOCH and in the 730th cycle, the reward stands at 1 EMC2 coin.
Einsteinium web wallet: Will help to store coins in a secure online version of Fort Knox where users will able to manage their invoices and developer license.
EMC2 Mobile: The lightweight mobile version with all the capabilities of online web wallet.
API: Those developers who don't have much experience in blockchain technology and creating crypto apps, Einsteinium will help in lifting those projects with technical inputs.
Super Wallet: Purchase EMC2 token directly in your wallet using your credit card and more advanced features.
4YOUEMC2: A eCommerce magento based platform where you can buy and sell products using EMC2 tokens.
Einsteinium Debit Card: A fully functional debit card which will let you do anything that your normal debit card allows you.
The Einsteinium project led by Jonathan Lauziere (Board member and Treasurer), Malden Trifunovic(Board member and Chairman), Ryan Wright (Board member and Project Coordinator) was started in around 2014. But due to its limited development, it was missing the limelight in crypto space. After setup of Einsteinium foundation in April 2017, the EMC2 token was ranked in the list top 50 cryptocurrencies by market cap.
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