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Einsteinium

What Is Einsteinium?

Einsteinium is a decentralized and peer2peer cryptocurrency created with the aim of supporting scientific research, philanthropic and technology project. The developers wanted to create a new method of supporting scientific projects in all fields.

The blockchain technology is growing at a very rapid rate. When Bitcoin was launched in 2009, the focus was only directed on the financial services. Now, blockchain has made it possible to almost carry almost all tasks ranging from sending value to managing medical records.

One of the cryptocurrencies that have been performing well in the market is Einsteinium. The coin was launched in 2014 to serve as an alternative to conventional payment services and advance the concept of scientific research.

  • A closer look at Einsteinium

Einsteinium (EMC2) is similar in many aspects to Bitcoin including the use of proof of work (PoW) consensus algorithm. It is like taking Bitcoin and improving it to include a charitable fund to enhance its utility.

Even though Einsteinium’s coin and platform share some similarities with Bitcoin, its price lags behind with a great margin. Here is a closer look at the price performance of the Einsteinium in the market.

When the coin entered into the market early in April 2014, its price was $0.003. The value remained declined to $0.0006 by June 2014 and remained within the range of $0.07 and $0.0009 by November 2017.

In December 19th, 2017, the value shot up to reach $2.63, the highest mark in its history. However, the high price did not last. It took a sharp decline hitting a low of $0.7 on 1st January 2918 before continuing with the trend to reach a low of $0.08 by the close of October.

Even with the downward trend, the community is optimistic that the value will finally take an upward trend and deliver positive return on investment.

What is the problem that Einsteinium Solves?

When Einsteinium was launched, many people were faced with the complex challenge of sending value using the conventional financial services. Einsteinium, like Bitcoin, targeted to address most of these issues. Here is a closer look at the problem that Einsteinium solves.

  • The high cost of sending money

If you take a look at the conventional financial services, one of the main characteristics is the high cost of sending value. Because they are profit based organizations, they have to charge a fee to optimize returns. Remember that they also need to meet the cost of paying staff and rent.

The high cost of sending value is also caused by the legislative requirements for running financial services. For example, all banks are required to deposit some money with respective central banks and meet the additional cost of running know your customer (KYC) and anti-money laundering (AML) operations.

Einsteinium addresses these issues by running independently without involving the centralized authorities. This means that it is not under the control of any central authority such as a bank of political administration.

  • Lack of privacy in the conventional financial industry

When you run a transaction such as sending money through a conventional financial service such as credit card or bank, the details are known by a wide range of people. These include the cashiers operating in the bank, the bank managers, and even the political administration.

Because these financial services operate under the local laws, you can also be forced to provide financial statements by a court of law. Lack of privacy implies that you can easily become a target through court battles or fraud.

  • Centralization of financial services

The financial services in the market today operate as a highly centralized system. The design is guided by the local laws and closely monitored by different arms of governments for efficiency. Even with this design, the centralized manner of operation implies that a failure in the system can cause severe damage.

One good example is mismanagement of a banking system. It is not uncommon to hear that a bank has filed for bankruptcy or its management is fighting fraud related cases. Other risks of centralized systems include the danger of wrong data entry, fraud, attacks or even missing records.

  • Poor adoption of cryptocurrencies in the market

Though the blockchain technology has been growing in various areas, the adoption is still below par. Because many administrations have held the argument that cryptocurrencies are risky undertakings, a lot of people have opted to still use them.

When new coins are released into the market, the quick buyouts can be deceptive. Many people who rush to buy the new tokens are not interested in using them on a day-to-day basis. Rather, they seek to hold them for some time and sell when the value goes up.

  • Negative perception about cryptocurrencies

Though the applications of cryptocurrencies in the market are increasing, a lot of people still have fear of shifting from the fiat currencies. Some of the negative things that people hold about the cryptos include; that investing in cryptocurrencies will ultimately result in severe losses and the coins do not have consumer protection.

How Does Einsteinium Solve The Problem?

The Einsteinium’s development team targeted to address the outlined problems to help take the blockchain using the following strategies.

  • Supporting blockchain and scientific research

To give cryptos a positive image and attract more people to the blockchain niche, the Einsteinium Foundation supports education and scientific research. The target is ensuring that newer projects delve into the crypto niche to ensure that the blockchain technology trickles to other areas such as gaming, social media, and e-commerce.

  • Einsteinium operates as a completely decentralized platform

Einsteinium, like Bitcoin, operates as a completely decentralized network. The system comprises of nodes that help to confirm transactions and protect the network.

The decentralized design helps to store information about individual users and transactions without creating a central point of failure. This implies that there is no risk of waking up one day and funding that the bank account is not running because of mismanagement or bankruptcy.

By operating as a decentralized system, it also implies that the cost of sending value is very low. Using Einsteinium to send money is also cheaper compared to Bitcoin and Ethereum because its value is low.

  • Direct link to e-commerce platforms

To make it easy and direct for people with Einsteinium coins to use them, the development team has linked with Magento e-commerce. This method allows users to directly make purchases on Magento using Einsteinium coin.

What makes Einsteinium better than it’s competitors?

Though Einsteinium was created at a time when only a few cryptocurrencies were in the market, the market has become increasingly competitive. Here are some of the things that make Einsteinium better than its competitors.

  • Einsteinium operates as an open funding ecosystem for scientific projects. This implies that you can easily raise funds to support your project on Einsteinium platform. Users only need to share their ideas and the operational framework to get funding from interested people. You can raise more funds instead of direct borrowing from banks.
  • The Einsteinium system is a completely decentralized platform. This implies that all the data is stored by different nodes across the network to ensure that there is no single point of failure. Unlike banks, users do not have to worry that their funds can get lost through bankruptcy or mismanagement.
  • The cost of sending value on the Einsteinium platform is very small. Because Einsteinium operates as a peer2peer network, transactions are completed without involving profit-seeking organizations. This implies that the transactions are faster and cheaper compared to banks and credit card companies.
  • Einsteinium provides users with a private method of sending value across the globe. Unlike the standard financial services that provide user details to many parties, Einsteinium is different. When you send funds through the decentralized platform, the transaction details are encrypted so that no one can easily know about you.

Even a court of law cannot order your details in court because cryptocurrencies are not regulated. This means that only you can know and have control of the funds in an Einsteinium account.

  • The Einsteinium system allows users to use and own the network. Like the Bitcoin network, the Einsteinium system is owned by the users on its system. This means that once you buy some coins and join the system as a node, you will be called to vote on governance issues such as the introduction of new features.

How can Einsteinium better categorized?

Einsteinium is a unique coin designed to help advance the blockchain technology in the society today. Though it closely resembles Bitcoin, the unique features make it easy for more people to join and identify with the technology.

The most notable of these strategies is serving as a crowdfunding platform for new projects. This implies that people with great blockchain based scientific projects do not have to stall for lack of funds. Instead, they can simply join the Einsteinium system for funding.

What’s Einsteinium’s vision on Security?

One of the top concerns for Einsteinium’s development team was the high level of insecurity in the niche. The development team was worried that more people were opting away because they feared that their investment would be hacked and stolen.

The Einsteinium’s mission on security is to provide people with a secure platform for exploring blockchain projects, investing, and using the native coins without worrying of attacks. The Einsteinium team uses the following strategies to achieve the mission.

  • The Einsteinium system uses scrypt proof of work algorithm that prevents centralized mining. This has been very important in promoting even spread of coins and preventing 51% attack.
  • The Einsteinium development team updates the platform progressively to identify vulnerabilities and seal them.
  • The platform uses advanced encryption that helps to keep the user details and transaction history secure. Even when miners follow back the transactions for confirmation and mining new blocks, they can only know the balance.

Examples of Einsteinium’s use cases / applications

The efficiency of a cryptocurrency network can be gauged based on its application. Since its launch in 2014, Einsteinium’s development team has worked hard to increase the application in the society. Here are some of these use cases.

  • Use Einsteinium to trade in the markets. Like other digital coins such as Ethereum, Einsteinium can be traded in the crypto markets. Trading in the exchanges such as Binance and Upbit requires users to register for accounts and create appropriate trading pairs.

Note that the exchanges are different from the Einsteinium’s platform. Therefore, you will be required to register and verify identify in line with local anti-money laundering (AML) and know your customer (KYC) requirements.

  • Use Einsteinium to pay for transaction fee when sending value. When you use the platform, a small charge is levied on every transaction to help with development and keeping it secure.
  • Use Einsteinium platform to fundraise money for your science project. This was the original idea of the founders when they created the platform. Now, you only need to demonstrate the project on the Einsteinium platform to get funding.
  • Use Einsteinium coin to pay for taxes if you reside in a jurisdiction that supports cryptos. Though the perception about cryptocurrencies has been negative over a long time, some countries are very positive about it.

One example of the countries that support cryptocurrencies is Singapore. The Singapore administration holds the view that there is no difference between paying services in fiat or cryptos because the primary goal is sending value. Other jurisdictions that support digital coins include Arizona and Switzerland.

  • Use Einsteinium coin to invest or save your cash. Instead of keeping your funds in a banking system, Einsteinium provides a better option. You only need to buy the coins and hold them until the time when you will want to liquidate them.

Remember that it is important to be cautious with cryptocurrencies because their value can grow in an unexpected direction. Therefore, it is advisable to spread the risk across different assets and to only invest what you have.

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Pluton

What Is Pluton?

Pluton is one of the products designed with the target of addressing the payment challenges of the blockchain niche. It is a decentralized and open source cryptocurrency designed to facilitate direct payments the same way people do with credit or prepaid cards in the market today.

The primary goal for discovering and launching the blockchain technology in 2009 was to facilitate faster, cheaper, and reliable transactions. But these objectives have faced myriads of challenges that prevent the adoption of the blockchain. To address the issues, developers have been forced to edge their creativity a notch higher in search for more creative solutions.

The Pluton system, found at Plutus.it, comprises of a payment platform, a debit card, and mobile application. This unique design helps to ensure that you can carry your coins, follow transaction history and make payment anywhere in the globe.

The main goal is allowing users to load the card with different coins and being able to make a purchase where other cards such as Visa are accepted.

  • A closer look at the Pluton coin

The Pluton coin and its native ecosystem were created by a UK based company referred to as Block Code Ltd. The founders were concerned that though the blockchain platform was advancing at a fast rate, there was an urgent need for a system that people could easily identify with easily.

When the coin was launched in September 2016, the value was $3.0. Then, the price dropped to $1.26 by December 2016. By April 2017, the price rose marginally to $2.13 and continued growing to hit another peak of $19.6 in June 2017.

The price took a downward trend reaching a low of $4.2 by the close of November 2017. In the subsequent two months, the value grew to hit a high of $30.72. But the good performance was short-lived.

Starting from January 2018, the value of Pluton coin took a bearish trend culminating to $1.3 by the close of October 2018. The ability of Pluton platform to use different coins makes the community believe that its native coin’s price is likely to grow in value in the coming years.

Note that this price prediction is only speculative. If you want to invest in the native coin, it is important to appreciate that digital coin markets are highly volatile. Therefore, make sure to spread the investment and only invest what you can afford to lose.

What is the problem that Pluton Solves?

  • Difficulty in purchasing and owning cryptocurrencies

When the benefits of cryptocurrencies are recited, many people express the desire to own and use them. However, the process of acquiring the coins is complicated.

For example, to buy Bitcoin in the markets requires users to register with an appropriate exchange, verify their accounts, and form appropriate trading pairs.

If the exchange that you have selected does not allow cash deposits, the process can be even more complicated because you have to start from another platform such as Coinbase or Kraken that support fiat.

To avoid these complications, many people opt to stay away from cryptocurrencies. Pluton targets to simplify the process by making it as easy to use as a credit card.

  • Many traders do not accept crypto coins

Though many traders know about cryptocurrencies, they do not use them. The cryptocurrencies are complicated because users have to follow a system of lengthy private and public keys before effecting payments. In other cases such as when running a Bitcoin or Ethereum transactions, the process takes very long because of poor scalability.

Therefore, traders have been seeking a reliable method that could use cryptos but operate like the standard payment methods. This is why Pluton adopted the debit card system.

  • Centralization of financial services in the market today

The conventional financial services are highly centralized. All the operations such as confirmation of transactions and data management are done at a centralized point. For example, when you initiate a transaction to send value through a bank system, the management has to conduct background checks in line with the anti-money laundering and know your customers rules.

This bureaucratic design implies that transactions are not private and they take very long to be completed. In some cases, wire transfers can take up to four days before being effected.

  • High cost of sending value with conventional financial services

Because the conventional financial organizations are profit-based, they charge high transaction charges when people want to use their platforms. The fee goes to meet costs such as paying staff, paying rent, and optimizing profitability.

The Pluton system targets to cut this cost by providing a peer2peer platform for people to run direct transactions. Whether you are making payment for goods on a store or simply sending value, the cost is very small if you use the Pluton system.

How Does Pluton Solve The Problem?

The Pluton design was created after a thorough review of the blockchain system’s challenges and years of research. Here are some of the strategies used to address the problems identified in the system.

  • PlutusDex

The conventional crypto exchanges model in the market today makes the process of acquiring and using the native crypto coins very complicated. To address the issue, PlutusDex uses an integrated exchange that allows people to instantly convert their coins to the preferred currency.

The PlutusDex helps to match the coins you have in the system with equivalent USD or GPB so that you can make a direct payment in your preferred stores.  The good thing with PlutusDex is that you are not required to make additional registration or pay transaction charges.

When making payment, Pluton users enjoy the latest prices because they are compared with the top exchanges in the market. This is considered the most advanced method of linking fiat and cryptocurrencies.

  • The Pluton rebate system

Once you join the Pluton system, the development team will motivate you to continue using it for direct shopping in both online and other offline stores downtown. The Pluton rebate system rewards users with Pluton coin when they the Plutus debit card with Bitcoin or Ethereum.

  • The Pluton tap and pay system

To make the Pluton system as close as possible to the conventional systems, its debit card allows you to simply tap and pay with Ethereum or Bitcoin. This implies that you will no longer have to worry about getting the shops that accept cryptocurrencies.

Even if you are in a shop that only accepts credit cards, simply tap the Plutus card and the payment will clear immediately in either USD or GPB. In their website, they indicate that people with Plutus debit cards can pay with it in more than 40 million stores across the globe.

What makes Pluton better than it’s competitors?

When Pluton was launched, the founders and the development team were committed to fighting for their space in the highly competitive niche. Its design and focus have helped to win a bigger community and grow the value of the native coin. Here are some of the things that make Pluton better than its competitors.

  • The Plutus debit card. The debit card is designed like other cards such as Visa to make it portable and easy to use. You can load the card with fiat currency or digital coins and use it to make direct payments in different stores across the globe.
  • The Pluton system allows users to make direct payments in over 40 million stores across the globe. This implies that the system has opened the door for people with Ethereum, Bitcoin, and Pluton Coin to spend their coins just like fiat currencies.
  • The Plutus card has helped to remove the fear that stores had in accepting cryptocurrencies. They simply accept the payment with Pluton and the clearance is made in USD or GPB. This method is being considered the best strategy for linking fiat with cryptocurrencies.
  • The Pluton decentralized system allows operates with a system of nodes spread in its network to ensure that there is no single point of failure. It implies that you can join the network and operate without worrying about losing money through issues such as bankruptcy or mismanagement.
  • When you join the Pluton system, you can operate without worrying about third-party seizures. Unlike with the standard exchanges that can easily share your data with authorities, Pluton is different. For example, Coinbase recently shared data of accounts that handled more than $20,000 in its platform with the US tax authorities.

By operating a decentralized exchange, it implies that user information in Pluton remain as private as it is in the native networks. Therefore, you can enjoy using Pluton without worrying about third-party seizures.

  • Unlike other platforms such as Bitcoins or Bitcoin Cash networks that only support the native coins, the Pluton system supports three coins. You can buy, exchange, or pay with Pluton coin, Bitcoin, or Ethereum.

The support for different cryptocurrencies means that more people are likely to find meaning in Pluton. This is expected to grow the value of the coin in the market.

How can Pluton better categorized?

Pluton is the next generation crypto and payment platform that has helped to redefine the industry. Even as other crypto platforms struggle with the problem of being accepted as a method of payment, Pluton is likely to make the digital coins just like the fiat currencies.

Its unique design and committed team are likely to keep the platform more vibrant and native coin in great demand. For many crypto enthusiasts, Plutus debit card is a must-have item even if they have other coins.

What’s Pluon’s vision on Security?

The Pluton vision on security is to become the most secure crypto network for all. After seeing the industry suffering from major attacks such as the Mt. Gox hack that resulted to loss of 600,000 BTC, the Pluton development team wanted to offer users some assurance that their coins would be completely safe. Here are some of the strategies used to keep the coins safe.

  • The platform encrypts all the user information to ensure that no third party or attacker can easily access it. This implies that you do not have to worry that a third party such as a court of law or tax authorities can access your details.
  • The development team progressively evaluates the system to identify vulnerabilities and addresses them through updates.
  • The system uses a decentralized exchange which implies that users do not have to send fund to centralized exchanges. Therefore, you have total control over the coins in your crypto wallet.

Examples of Pluton’s use cases / applications

One area where Pluton has outdone other cryptos is in its many applications. The development team wanted to ensure that people could use the coins in all areas of their lifestyle without worrying about getting rejected. Here are the main use cases of Pluton.

  • Use the Pluton system to pay for goods and services in the supported coins. The design of the Pluton ecosystem is to ensure that over 40 million stores across the globe can accept the coin. The secret is ensuring that the actual value of the Bitcoin or Ethereum can be established at the point of purchase. The ecosystem also allows users to make payment with fiat even if they only have cryptos in their systems.
  • Use Pluton to pay for government services. Because the Plutus card is loaded with your coins, there are two options for paying government services. You could pay with fiat currency or digital coins if you reside in states such as Arizona or country like Singapore.
  • Use Pluton Coin to trade in the markets. To make money using Pluton coins, you can trade them in the exchanges such as Bittrex and Binance. These are markets that operate like forex platforms but deal with digital coins only.
  • Use the Pluton coins as a gift. If you have Pluton coins, you can use them as a gift to your friends and family instead of fiat currency. The coins act just like fiat when used together with the Plutus Debit card.

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