Review on EverGreenCoin by gregori cordova
an eco-friendly project that still has a long way to go
The variety of cryptocurrency projects that have specific objectives and aimed at different audiences does not cease to amaze me, but especially those types of projects, which are aimed at increasing social responsibility or charitable causes as Evergreencoin does. This project is very similar to a charity, to support environmental causes around the planet by combining blockchain technology to realize its objectives. is an open source platform derived from the source code of bitcoin and that maintains the premises of that cryptocurrency, such as decentralization, and pseudo anonymity, but they have made a great effort to modify certain aspects such as the speed of transactions, the generation of new blocks and even the excessive use of energy has been changed by a more ecological model. initially used a POW algorithm consensus system, where they extracted a supply of 13 million coins, but they broke with that model and switched to a hybrid POS system that greatly promotes system stability through staking, with network rewards of 7% that allow long-term profits and thus avoiding aggressively trading your own cryptocurrency called EGC, so as not to create high levels of inflation. They also have a program called charity staking, which consists of downloading their own wallet that is practically available for any operating system on their website, both for cell phones, and staking a certain amount of coins, thus allowing their POS rewards to be direct towards environmental charities around the world, promoting and financing in this way the use of renewable energies, providing aid to refugees, financing the construction of solar panels and water wells in very isolated populations, etc., all this through its 4 branches : EGC Renewables, EGC Wellness, EGC Water and EGC Gardens, who are in charge of working directly with these organizations.
In general, Evergreencoin is a project that encourages social responsibility and support for different environmental charitable causes, through blockchain technology, which although so far has not had a great performance, it is a project with the ability to achieve much acceptance if more necessary updates and a good massive marketing campaign were made to make it known around the world.
Pros
- It is a project focused on staking and not on aggressive short-term trading
- They have a wallet that can be downloaded on any operating system including mobile phones and totally free
- In addition to the normal staking where commissions of 7% are earned, there is also the possibility that those rewards are automatically directed to supporting charities and users have the power to decide the amount, directly in their wallets
- There is no presence of master nodes, and all users receive the same rewards regardless of their individual balances.
- Transactions are relatively fast and with much greater scalability in the future
- Since its consensus system is POS, it is not necessary to have powerful hardware devices to mine it
Cons
- its market value is very low and its market capitalization has not made much progress since its inception in 2015.
- Although they have a whitepaper on their website, there is not much technical information about this project, but rather many goals and objectives that they intend to achieve are shown.
- The exchanges in which this cryptocurrency can be found listed are very few, and they do not have a very good reputation and very low liquidity
New products
Comments (1)
September 09, 2020
Thank you for reviewing EGC, you seem to have done your howok but you did miss the PoE project that pays EGC for good deeds and the fact that the EVerGreenCoin foundation is a registered 501c3 public charity in the US. Meaning you get tax incentivefor donating fiat and is eligible for supporting things like ebay charity, amazon smile, humble bundle and more.
