Introduction The Einsteinium Coin is a cryptocurrency, which is based on bitcoin. In addition, Einsteinium is intended to advance science and reduce investments in irrelevant IT projects. In particular, projects that have an important influence on the further development of humanity are to be supported by Einsteinium.

Dec 13, 2017 - In addition, it should be ensured that a large user group uses the Einsteinium coin, so that free use is obligatory. Einsteinium hopes that the coins will be well accepted due to their donation character. To promote science, 2% of the coins extracted from mining are donated to research projects. Dec 12, 2017 - The Wormhole Event is Einsteinium's unique contribution to the proof of work model. The phenomenon occurs at random within each epoch and lasts for 180 blocks, during which time a block reward of 2,973 EMC2 replaces that epoch's standard reward. This lottery system is supposed to keep mining. Jun 18, 2017 - Einsteinium(EMC2) uses the Scrypt algorithm so any Scrypt miner should work. Some of the more popular miners are CGMiner(non-Nvidia GPUs), BFGMiner (Non-Nvidia GPUs), Cudaminer(Nvidia GPUs), and Minerd (CPU). Because you are most likely just getti.

What is the purpose of Einsteinium? The purpose of Einsteinium is to finance scientific research. Investments in research projects are to be made on the basis of community decisions.

In addition, it should be ensured that a large user group uses the Einsteinium coin, so that free use is obligatory. Einsteinium hopes that the coins will be well accepted due to their donation character. How To Mine 1 DigitalNote XDN Per Week.

To promote science, 2% of the coins extracted from mining are donated to research projects. Einsteinium’s mining was divided into so-called epochs, which each consisted of 36,000 blocks and was to last for about 25 days. After these 25 days, the community will determine the next research project to be funded by Einsteinium.

Like Bitcoin, Einsteinium also uses a Perr-2 peer system. In addition, EMC2 has implemented a wormhole technology, which is to appear randomly in every era. A wormhole remains for 180 blocks and is assigned 2,973 coins for each block that is loosened. Which company is behind the Einsteinium Coin crypto currency?

Einsteinium was developed by the Einsteinium Foundation. On 7 April 2017, the Foundation was registered as a non-profit organization with its headquarters in Montreal. The Einsteinium Foundation is the first non-profit organization founded within the framework of cryptocurrencies and hopes to establish close ties with other non-profit organizations with the central goal of advancing science.

What is the vision of the company and how should it be realized? The purpose of the Einsteinium Foundation is to support research. For this purpose, 2.5% of the mining income goes to the foundation. While 2% goes directly into research projects, the remaining 0.5% is used to cover the company’s own marketing and advertising costs. In the long term, the company’s own Einsteinium schools for engineering sciences are to be established in order to inspire children with enthusiasm for science.

In order to achieve these goals, the foundation is developing an infrastructure that enables trading. In addition, EMC2 also provides its own wallet which enables the free transfer of the cryptocurrency. What is the company’s market capitalization? The Einsteinium Coin, also known as EMC2, has a market capitalization of USD 345 million after a huge jump in the beginning of December (from 26 million in November, that is a 10x jump).

This year, cryptocurrencies are demonstrating their financial prowess as they rapidly increase in value. With a total market cap of more than $500 billion, this vast ecosystem is loaded with digital currencies that are more valuable and more usable than ever. What’s not considered on these charts is the creativity embedded in some of these coins. Although it’s currently priced at just $0.92 USD, which doesn’t place it anywhere near the most valuable cryptocurrencies, deserves recognition for creativity. EMC2 began the year valued at just $0.000875 per coin – not even worth a tenth of one cent. 24, its value had increased to $0.92 per coin — a gain of more than 100,000%. The Einsteinium Foundation’s mission is to raise funds for scientific research.

First launched in 2014, Einsteinium is a unique cryptocurrency that combines the standard p2p ambitions with a philanthropic underpinning that strives to fund scientific research through its platform. It uses a concept that is similar to Bitcoin, and, aside from the popularity difference, it operates in much the same way. In essence, Einsteinium is a combination of Bitcoin’s technological capability with the ethos of a charity. A New Fundraising Model Einsteinium runs on the Proof-Of-Work scrypt algorithm. The total amount coins that will be in circulation after the mining is 299 million coins (after 730 Epochs). Einsteinium’s methodology is simple but is pretty compelling. Their coin, EMC2, is a tradeable digital currency that has soared in value this year.

Throughout its first two years, EMC2 traded at a fraction of a cent. In other words, it was a functionally worthless currency. However, the crypto boom of 2017 has extended to Einsteinium as well. In November, EMC2 began an unprecedented climb that ultimately led its value past $2.50, though with the recent, it is now trading for around $0.92 USD. This is good timing — on March 1 st, launched the Einsteinium Foundation, which is an officially registered non-profit in Canada, and it’s one of the first NPOs in the crypto space.

The funding mechanism for this nonprofit is built into the crypto mining process. Of the fees generated by mining EMC2, 0.5% goes to the organizations fundraising costs while another 2% is directly contributed to funding for scientific research. Interestingly, the mining community has an opportunity to vote for the projects that they want to fund. Funding is accrued in Epoch cycles, which are the approximately 25 days that it takes miners to build 36,000 blocks onto their public ledger. At the completion of each Epoch, miners have the opportunity to vote on the projects that they will support with their funding. A Unique Approach to Crypto Mining As of September 2017, the Einsteinium Foundation decided to remove the ‘Wormhole’ feature from the coin which reduced the total supply by 55075320 coins. How Do They Mine Vertcoin VTC on this page.

Uses a reductive approach to mining rewards. Essentially, as more blocks are mined, the reward for doing so becomes less. Prior to a September 2017 hard fork, Einsteinium used a unique approach that they have dubbed a “wormhole event” in which a random event within each Epoch rewards a miner with a significantly higher than normal reward. Therefore, while the general payoff lessens over time, the possibility of a wormhole reward should incentivize participants to continue to contribute their computing power to maintaining the blockchain. Additionally, to help invigorate their currency, Einsteinium recently implemented the September 2017 hard fork that reduced EMC2 supply by 25%.

This can be perceived as a strategic move to enhance Einsteinium’s value at this critical time, but it can also be interpreted as a last-ditch effort to shore up the currency’s value after years of stagnation. Differentiating the difference between these two motives is one of the most tenuous aspects of the platform. A Shotgun Entry into the Future As of December 24, 2017, Einsteinium has a market cap of ~$200 million. Einsteinium has robust plans for its future that don’t inherently correlate to their fundraising vision. For example, since Einsteinium has many of the same qualities as Bitcoin, they see its future adoption in p2p or even integrated ecosystem transactions as a vital part of their future. After a on December 19 th failed to deliver the excitement and forward-thinking developments that users had hoped for, the currency dropped nearly 40%, swaths of confused investors filled chatrooms, forums and Reddit with their misgivings. The announcement revealed Einsteinium is updating its mining algorithm to make it ASIC resistant and to make it more GPU friendly, which will help its mining become even more decentralized.

Although many of their community members expressed frustration with the announcement, Einsteinium maintains that the change reflects emerging best practices in the industry and ensures that their research-enabling platform is utilizing the latest research and technology to mature the platform. While the past two months are exciting for Einsteinium and its supporters, it’s difficult to tell if EMC2 is taking off on its merit or if it is merely reflecting the general enthusiasm surrounding cryptocurrencies.

Regardless, combination of currency and philanthropy is a novel idea, and it’s unlikely that they will be the last project to produce an iteration of this concept. I would like to know if the crowdfunding platform for scientific research is open to the public? Because i would like to suggest topic for scientific research. I also would like to know if there is a full list of research that already being funding by Einsteinium fundation?

And if as counter party from fund form the fundation, there is the obligation to scientist to publish results in free access newpapers/websites (and ideally all the softwares and all material produced for the research) because it is such a plain in the ass for those would like to read scientific paper to have to such expensive price to get access to papers publish. Disclaimer: CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise.

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