Review on Einsteinium by Fanuel PORPORTY
Einsteinium is a cryptocurrency designed to finance scientific, technological and philanthropic projects.
The piece Einsteinium, rightly abbreviated EMC2, is the source of this funding and is disseminated using a proof of work algorithm similar to that of Bitcoin. So in practice, EMC2 works like someone takes Bitcoin and combines it with a charity fund. This project started in 2014, but Einsteinium did not experience much action until the spring of 2017. On March 1, the Einsteinium Foundation was officially launched and, in April, it officially registered as a goal organization lucrative nonprofit in Montreal, Canada.
The Einsteinium Foundation is the organizational counterpart to the Einsteinium currency, a hub for the project's charitable and research funds. As part of its proof of work extraction system, the foundation receives 2.5% of each block as a reward. Of this yield, 0.5% is devoted to distributors, marketing and donations, while the remaining 2% is devoted to funding scientific research.
To understand how the foundation chooses and finances projects, it is necessary to understand how the Epochs function within the framework of the proofs of the EMC2 working consensus.
An era is the time it takes miners to build 36,000 blocks on the Einsteinium public register, about 25 days. After the end of an era, the profits from the Einsteinium Foundation are donated to research projects or to projects in the scientific, technological or blockchain industries. Members of the Einsteinium community are invited to vote on the project that they believe is the most promising and most worthy of funding.
Pros
- Einsteinium is primarily used as a fundraising platform for charities and scientific research
- Maintaining a currency that provides a more transparent and confident way to support causes. The Einsteinium coin is designed to reduce waste and eradicate corruption where it is most needed: charity and politics.
- Integration of crowdfunding into the process. This raises awareness of more projects and causes, our coin, our sponsor articles, and the benefits of cryptocurrency to a wider audience.
- No other cryptocurrency does what Einsteinium does. Its mission is unique, respectable and full of conviction, and the Einsteinium Foundation has the potential to have a real impact in the area of fundraising.
Cons
- always keep in mind that a cryptocurrency investment is extremely risky. It is an unregulated market that is capable of the best and the worst. You are solely responsible for your decisions.
