Review on Einsteinium by Pedro O. Alvino M.
financing of scientific projects with blockchain
Founded in 2014, Einsteinium was largely unheard of until March and April 2017, when the non-profit Einsteinium Foundation was created in Canada. Under the proof of work mining system, the foundation receives 2.5% of each reward per block. Of that amount, 80% goes to finance scientific research.
These funds are distributed at the end of each era (the time it takes for miners to build 36,000 blocks in the Einsteinium Ledger), and the Einsteinium community votes to decide which projects receive funds.
In my opinion, establishing a platform dedicated to the financing of scientific projects is clear that they are seeing the future since promoting technological progress will have its long-term advantages.
Pros
- Employs financing to scientific projects through the blockchain
- Platform has a wallet to safeguard assets in EMC2
- Einsteinium uses the scrypt work test algorithm.
Cons
- Revenue to the platform will depend on how much adoption is towards the cryptocurrency market.
- Its history in the market has presented disastrous falls of its ECM2 currency
