Einsteinium is an innovative project from professionals specializing in the development of products based on blockchain technologies. The Einsteinium cryptocurrency and the project of the same name were created to raise funds, which are subsequently invested in scientific research.
Custom payments from mining the Einsteinium cryptocurrency create an asset fund that allows worthy applicants to receive grants and conduct large-scale scientific work. The Einsteinium Foundation sent its first funds to an oncology research project.
The Einsteinium Foundation hopes to receive grants and build long-term relationships with other NGOs around the world to support future fundamental scientific projects of any kind.
This currency showed unprecedented growth – plus 169,800% at the end of 2017, due to which it fell into the top 50 CoinMarketCap. At the beginning of 2017, the EMC2 exchange rate was $ 0,000875, but at the end of the same year, the cost of the token was estimated at more than $ 2.
History of Einsteinium
The history of cryptocurrency is associated with the charity company Einsteinium Foundation, which appeared in 2008 – long before the creation of an internal online coin.
The objective of the fund is to finance important scientific projects that have a chance of success and are able to improve the life of all mankind. To ensure that the work of the fund is completely transparent and only truly worthwhile and useful projects receive funding, all participants in the charity event make a decision on who to transfer the collected funds to.
Distribution of the collected money occurs monthly by online voting. The emphasis is on projects of global importance.
EinsteiniumFoundation is a company incorporated in Montreal, Canada.
In March 2014, the fund issued a cryptocurrency of the same name. The coin received an EMC2 stock ticker.
March 29, 2014 the first donation in digital currency. Dr. Walter Moss of Yale, who studies cancer and its methods of treatment, received the money.
Features of the cryptocurrency Einsteinium
EMC2 is an open source decentralized digital currency. This coin is not much different from other cryptocurrencies.
The same blockchain, the same principles of mining and a limited amount of emissions.
The main difference between this online currency is the liquidity provided by the availability of a real product. Charitable funding by the foundation of scientific projects ensures the value of the coin and maintains its stability.
To donate, you need to buy EMC2. Such a policy creates demand for a token and contributes to its popularity.
Despite the connection of online currency with the fund and their interdependence, EMC2 is a completely independent cryptocurrency coin, which in the future can be paid for goods and services.
Einsteinium is traded on the largest crypto exchanges – Bittrex, Poloniex, Binance, Upbit and Cryptopia. Virtual currency is only sold for bitcoins. The exception is the Upbit exchange, on which EMC2 is trading in tandem with the South Korean won.
The official Einsteinium wallet is used to store the token.
The currency runs on the Scrypt Proof-Of-Work algorithm, which requires proof of the work performed. The same algorithm is used in the Litecoin cryptocurrency.
There are two ways to mine EMC2 coins – using ASIC or video cards. It is impossible to calculate the payback of each of these options with absolute accuracy, since the price of tokens is constantly changing, the number of “miners” is growing.
The whole process is divided into so-called eras, each of which has an average duration of 25 days. During these 25 days, a network member can mine 36,000 blocks.
At the end of each era, a new scientific study is selected and put forward for a grant from the Einsteinium Foundation.
The total number of “eras” is 730. According to the developers, during this time cryptocurrency mining will be completed.The block reward after each 25-day period is reduced.
Here is a list of the most profitable pools:
- Chainworks Industries Pool.
You can get coins by purchasing on the exchange. For this purpose, Bittrex, Cryptopia, as well as Upbit and Poloniex are suitable.
This system, like Bitcoin, offers a 1-rank digital coin. Profitability is realized on the basis of an innovative development called Wormhole Mechanics.
The start of the project took place without premine, like BTC and LTC. The creators brought to life the technology of the wormhole – in order to motivate the “miners” to mine cryptocurrency in the long term, each era includes 180 blocks, the “finding” of which brings 2970 EMC2 units for each mined chain.
The distribution of “happy” blocks occurs randomly. The Proof-of-Work algorithm was laid in the work.
Wallet for EMC2
Store EMC2 tokens in the system wallet. It operates according to the standards of Bitcoin wallets – just go through registration, create an account and get an address to start using the system’s monetary units.
At the moment, developers have provided users with wallets for Mac and Windows, as well as a mobile version, which is available through Coinomi for Android. According to the Roadmap project, a web and mobile wallet will soon see the light of day.
Cryptocurrency rate EMC2
The value of any currency is determined by the market. EMC2 is no exception. This virtual currency is dependent on demand for it.
As long as there is demand, the cost is growing. The lack of stable demand reduces liquidity and increases volatility.
For 4 years of existence, Einsteinium has found its supporters. They believe in the growth of the coin and invest money in it.
This creates demand in the market, provoking the growth of cryptocurrency.
Should I buy EMC2 – expert opinion
At the beginning of 2018, the cryptocurrency market is undergoing changes. Investors are beginning to realize that the high cost of bitcoin and other “main crypto money” is the result of the activities of exchange speculators who create artificial demand for popular online currencies and provoke their growth, making money on it.
However, bitcoin, like most altcoins, has technical vulnerabilities, including:
- High commissions. For example, because of this, Bitcoin cannot be a full-fledged means of payment. In small transactions, the commission sometimes exceeds the payment amount. For this reason, at the end of 2017, large sites stopped accepting this online currency for payment.
- Slow transaction processing speed. Payments in bitcoins can reach the recipient for several days. There are known cases of transaction freezes.
- Scalability Issues. With increasing demand for bitcoin, transaction processing speed decreases even more, as does the commission for them. The computing power of the miners is not enough to ensure the stable operation of the bitcoin network. This imbalance discourages investors.
Crypto market trends are constantly changing. Investors pay attention to projects that do not have the above problems and correspond to the real needs of the market. One such project is Einsteinium.
Unlike the “leaders of the crypto market”, this virtual coin is completely transparent – the developers do not hide their faces.
For 2018, an improvement of the platform is planned.
The creators promise the presentation of a number of system products, including:
- Web-wallet for digital coins;
- Client for managing on gadgets;
- Social network for site participants;
- Market place for network members;
- A platform for scientific research based on blockchain, etc.
Speaking about the formation of the value and price forecast of the Einsteinium cryptocurrency, it is worth noting that the digital ecosystem token was developed both for functioning within the network itself and for going beyond the world of cryptographic currency. This helps to popularize digital currency in the real world with their actual use.
Prospects for Einsteinium
Experts agree that the Einsteinium project has an interesting and promising future. The expansion of the partnership will be an additional incentive for the development of the platform and the growth of cryptocurrency
Einsteinium is an undervalued online currency. Technically, it is superior to Bitcoin, so it has every chance of success.