Review on Emercoin by Stephen Toluwani
Going beyond peer-to-peer transaction to encrypted storage and transfer of files
In the evolved world of Blockchain and it's entire use cases, Emercoin has come to stand out in terms of moving from the level of peer-to-peer money transactions to a whole new level of integrating the Blockchain to our every day life. The Emercoin started as a project that emanated from Bitcoin, Namecoin and Peercoin in December of 2013. Emercoin aims to provide a plethora of Blockchain based services such as Cyber security, fast payment transactions and Information
The project has its coin which is the Emercoin (EMC) which has experienced it's highs and lows right from the time it was created. The coin has a low trading volume and price currently but was once placed in the Top 20 crypto coin on Coinmarket Cap. The project supports it's very own Blockchain which is used to validate transactions on its ledger. The cryptocurrency boasts of a low transaction fee worth a few cents and a fast transaction validation in
The obtaining of the EMC is provided through a hybrid consensus mechanism by the combination of 3 algorithm of PoW, PoS and Merged mining with Bitcoin which ensures high security level of the Blockchain and the records are protected. Speaking of records, as Emercoin is a fork of Namecoin, it provides a Name value system which allows users to store vagarious and superficial information on its blockchain which is good of insecurity or even loss. The information stored on its blockchain can be transferred in a secure and fast way
While going through the roadmap of this project, I noticed it's implementation of EmerDNS which provides irrevocable domain names and in 2015, it invented a Blockchain based security services, one of which I took particular interest in was EmerSSL which provides password less identification. The project in 2016 entered into partnership with Microsoft and integrated with Kolionovo (which was the first agricultural business to use the Blockchain using the EMC blockchain) with the use of EMC for fast transaction and payments and EmerDPO as a distribution register for land shares which I find quite
The project has so far gone into partnership with a host of other popular companies such as Coca-Cola, Bitfury, Hashing24 and a while lot of others. It's partnership with such companies has given it a boost for reliability in today's business
The project is receiving a lot of attention from everywhere but I noted it's inactivity on its social media platforms, Twitter for example, with it's last tweet dating back to 2019.Its coin is accessible on PC's and Mobile wallets. The project has a lot of uses in the business world which I personally never knew was possible on Blockchain and I believe it can be reaching new highs when it is broadcasted to a general audience as the project has a little Community support which I feel if addressed, should give the project a new face in the crypto
Pros
- Emercoin is hosted on its very own Blockchain and boasts of faster transaction speed and superfluous low fees
- It's partnership with a number of reputable organizations has paved way for it's adoption in the business world
- The project went beyond peer-to-peer money transactions to the storage and secured transfer of arbitrary data on its blockchain
- The project provides a Hybrid consensus mechanism through it's combination of Proof of Work, Proof of Stake and Merged mining with it's fork Bitcoin which ensures a high security level of the Blockchain and protects the data recorded in it
Cons
- It's low activity on its social media platforms has led to lower Community support which makes it less popular in the long run
