Einsteinium (EMC2) Review – Crypto Coin Judge
Cryptocurrencies are changing the way the world interacts with money and does transactions. The reason behind the popularity of digital coins is their underlying technology—blockchain. Because of blockchain, which is essentially a decentralized network, cryptocurrencies are here to stay as they offer ultimately safe and secure transactions. In this highly popular world of cryptocurrencies, one currency has made a mark for itself, which is: EMC2.
Einsteinium (EMC2) is a cryptocurrency which has been designed with the philanthropic objective of raising funds for scientific research and advanced IT and crypto coin projects. The Einsteinium Foundation (EMC2) is dedicatedly working on this ambitious project that will likely change that how cryptocurrency (CC) is viewed from outside the CC world. With this digital currency, the foundation is aiming to finance the scientific research projects by providing monthly donation, determined by the community based on voting system.
What is EMC2?
According to the Einsteinium Foundation, scientific research is a long-term investment for our future as well the future of our planet. Funding becomes necessary for the growth of scientific research projects. There is no bar on the eligibility of any project to receive funds, provided it is related to scientific research to push our understanding forward and strives to build us a safe, better and more stable future.
Therefore, Einsteinium Foundation has released its EMC2 coin. The foundation was registered as an official Non-Profit Organization in Montreal with NPO cooperation. It is the first non-profit organization created in the cryptocurrency framework with the aim to raise funds for supporting the groundbreaking future of all kinds of science projects.
The EMC2 uses proof of work (PoW) algorithm which is having total 299 million coins. Under the proof of mining system, foundation will receive 2.5% of every block in which 0.5% will be donated for the faucets, donations and marketing costs, while 2% will go for funding the scientific research.
Team behind the Einsteinium
The foundation is supported by the brilliant minds of professionals. These include:
Jonathan Lauziere – Board Member and Treasurer
Jonathan is a University Student in Computer Science and has keen interest in cryptocurrencies. In 2014 September, he was involved with the team who took over the Einsteinium Foundation when most of the original team members had left. Since then he has been working for Einsteinium.
Malden Trifunovic – Board Member and Chairman
He was an early crypto investor and a serial entrepreneur. Before becoming a part of EMC2, he ran a software consulting business and supported the clients in the field of finance, manufacturing, marketing and retail sector. He has Master’s degree in Microprocessor Designing and is a C++ Developer.
Erick Calder – Board Member and Chief Strategist
Since 2012, Erick has been the part of crypto world. He has more than 30 years of experience in architecture and software development within enterprise environments, mainly in finance. He is working on a project where he is putting his efforts to address the touch points between the real world and the nascent DAO space. This venture is to replace a nation’s official currency with virtual coin in order to develop the world’s first risk-free coin.
Other key members of Einsteinium development team:
- Rayan Wright-Board Member and Project Coordinator
- Vladan Bozilovic –Board Member and IT Lead
- Milos Stosic-Mobile Developer
- Milica Stankovic-QA Engineer
- Rober Quaglia- Writer
- Aleksandar Kubjak -Account Manager
- Daniel Johns -Consultant Editor Strategist, Ambassador
- Daniel Sremac- Ambassador
Unlike several other cryptocoins such as MonaCoin, NEM, OmiseGo, Einsteinium is a foundation based system that has been designed to raise the funds for scientific research projects. They have recently integrated the crowdfunding platform in their process which can be a key catalyst for reshaping the scientific research community. The company is based on open source technology and is already a part of the Bitcoin community.
The EMC2 automatically donates 2 percent of every block mined to the foundation’s fund so that it can be used for the donation purpose. The Einsteinium mining is divided into Epochs, each one having 36,000 blocks of coins and targeted to last for approximately 25 days. The Einsteinium proof of work mining will last for 730 Epochs.
If you want to understand how Einsteinium Foundation chooses the projects which should get funded and how much it should receive, then you need to know the working of Epochs within EMC2’s proof of work consensus.
What is an Epoch?
Epoch is the time which is taken by the miners to build 36,000 blocks onto the Einsteinium’s public ledger. After completion of an epoch, the proceeds coming from the Einsteinium Foundation block rewards (from that specific epoch) are used for scientific research, technological projects or blockchain industries. The members of the foundation community will be asked to vote on the project which they think demonstrated the most potential and worth for the funding.
What is Wormhole?
Einsteinium is based on distributed peer-2-peer digital currency like Bitcoin, which is released without any premium. EMC2 implements the new innovation of Wormhole Mechanics which rewards the long-term miners. During every epoch after the first one, each Wormhole event will occur randomly which is180 blocks long with a reward of 2970 EMC2 per block. This lottery system is introduced to make the mining system more attractive and lucrative for the miners. Moreover, it is also meant to reimburse the decrease in block rewards with each successive epoch.
The Einsteinium team also believes that Wormhole is beneficial to make mining process more profitable in the future. When the EMC2 coin value increases, the more lucrative wormhole events will take place.
Some of the well-known EMC2 mining pools are: Supernova, Hash-To-Coins, HASHWIZ, Intetrader p2pool (EMC2) and Chainworks Industries Pool.
Wallets to store EMC2
At Einsteinium’s website, they are offering new updated versions of wallets that you can easily download to accommodate an upcoming fork. They provide window wallet and OSX wallets. Apart from it, they are also offering Coinomi Android wallet and wallet sources. All the wallets are constantly updated and designed according to everyone’s needs.
Einsteinium announces Fork 2:- a big change is on the way
The Einsteinium foundation is going to change the mining algorithm of their EMC2 coin to make it GPU friendly and ASIC resistant. To move forward, they are associating with a company to create the miners and a new algorithm for coin mining. The foundation took this decision due to the below two reasons:
- As EMC2 coin promotes scientific research, therefore they want to keep it in the forefront of crypto technologies and endeavor to design excellent features for its core development.
- According to the Einsteinium Foundation, the students of all academia and science should conveniently set up an EMC2 miner. They should learn more about mining to save coins and pay for the expenses and tuition fees.
To read the full news just click on the link https://www.emc2.foundation/news/2017/12/19/einsteinium-fork-2-announcement-algorithm-change
How to buy EMC2?
Some exchanges from where you can easily buy this coin include: Poloniex, Bittrex, Cryptopia and UPbit.
At the time of writing this article, the cost of each EMC2 is $1.40 USD
Future predictions and plans
Einsteinium Foundation being a fundraising platform for charity and scientific research, they are taking important initiatives to boost the future value of their EMC2 coin and its services. Given below is their future roadmap and plans.
- Web Wallet: – It can be used to store the coins in a safe and secure manner in the online version of “Front Knox”. With this, users will not only be able to send and create invoices but also receive them while managing their developer’s licenses.
- EMC2 Mobile Wallet: – The lightweight mobile wallet will allow the users to do everything with the web wallet until they are going up and running.
- EMC2Me:- They are focusing on developing a funding platform which will be used for scientific research and cutting-edge IT and crypto projects. The community members will vote and choose the projects that should be awarded for its proceeds.
- Weeee..:- The foundation will provide the new fun social platform which they called as “Coin wallet powered by love”. It’s a messenger app having the ability to easily send gifts to the friends with attached coins. With this new invention, people can share their feeling with the world and surprise their friends with gifts or EMC2 coins.
- Super Wallet: – Buy EMC2 coins directly in the wallet by using major credit cards. This will also allow the users to schedule their future purchases or repeat buys.
- Zero Risk: – Margin trading is responsible for increasing the risk and rewards. But, the EMC2 “Zero Risk” will do opposite by minimizing it. This will give the option to ensure your assets by paying little amount of premium.
- 4YOUEMC2:- They are working on designing their ecommerce Magento based marketplace where people can sell and buy products and services using EMC2.
- EMC2 Debit Card:- It’s a fully functional loaded debit card with your EMC2. The card will enable the user to do anything, like you can charge your electric car and do the payment with Einsteinium coin.
- Einsteinium Awards:- They will also organize the annual event to recognize the best students and researchers in the field of science and technology. The lucky nominees will receive a beautiful trophy to show the sign of appreciation for their hard work and dedication in the realm of science, and for the future growth of the youth.
All these initiatives taken by the company shows that EMC2 value will surely climb up their value in the near future.
Dissimilar to other cryptos like RaiBlocks, Ripple, SALT, Santiment, Siacoin and many more, Einsteinium Foundation works to raise funding for the scientific projects. There is no other cryptocurrency which is working like what Einsteinium is doing. The foundation is moving forward with a mission of promote the scientific research by raising funds. If you agree with the mission of this Foundation then it is worth to buy EMC2 to give your contribution in promoting their philanthropic vision. If you wish to make money, then investing in this coin is beneficial as the company grows and raises funds for its various projects. Moreover, the coin’s wormhole events make the mining an attractive prospect.