Author: Samuel

Posted on

E-Dinar

What is E-Dinar?

E-Dinar is a digital currency that combines the best features of cryptocurrency, leveraged on the benefits of blockchain technology, to present a robust and secure system for users.

To do this, the E-Dinar project is based on transparency, integrity, and decentralization. These are three of the most important tenets that underpin the blockchain ecosystem in general.

Most of the projects that are available in the market currently are useful in one way or the other, but they still face challenges, such as energy use requirements, and some harm the environment, especially those that are built upon Bitcoin.

However, these are some of the things that E-Dinar is trying to change. The idea is to revolutionize the way traditional cryptocurrencies operate while minimizing the resource wastage.

What is the problem that E-Dinar Solves?

Cryptocurrencies that are built on Proof of Stake and Delegated Proof of Stake (PoS and DPoS) have been around for a long time. These are some of the first cryptocurrencies that were introduced to the world. Most of these have since upgraded to Proof of Work (PoW). The biggest problem with these cryptocurrencies lies in the algorithm that they run.

The algorithms mentioned above, while effective in meeting the underpinning objectives of the crypto project are easily vulnerable to attacks, are not as democratic as they claim to be, have loopholes that encourage corruption in terms of technical capabilities and when addressed as progressive projects, are not energy efficient. Therefore, these projects, even if they set out to do good, eventually end up negating on their promise by design.

In PoW crypto projects, users must constantly keep their computers online so that they stand a chance of earning more coins. Other than that, you have a better chance of succeeding if you have a powerful computer or one with a very expensive GPU.

The PoW mechanisms inherently have mechanisms in place to make it difficult for users to mine blocks. Therefore, these simply create a chance for people with powerful computers to establish and maintain monopolies in the ecosystem.

It gets worse, the energy consumption needed to achieve these goals is also intense.

How does E-Dinar Solve the problem?

E-Dinar is built on the DPoS algorithm. This algorithm was created to among other things, solve the challenge of mining monopolies and energy consumption. It bestows powers upon trusted delegates within the ecosystem to reach a consensus if decisions are to be made. The delegates are also tasked with signing and processing blocks, including the records of user mining activities, and the number of coins that users have in their accounts.

In so doing, E-Dinar is a platform that will always be coherent, and this is made possible by conferring equal rights to all the members. There is no arms race as is the case with projects that run PoW, and users do not have to worry about energy consumption either.

While the DPoS algorithm has been successful in dealing with some of the challenges experienced in PoW, there is still a lot to be improved on. The E-Dinar coin aptly uses the best features of the DPoS algorithm and refines it to an innovative redesign that makes it cost-effective in resource use, very easy to understand and use.

Eventually, the goal behind E-Dinar is to bring forth a fully decentralized blockchain ecosystem where each user, even those who do not have the slightest knowledge of tech, is able to create, own and manage their own funds, regardless of their financial position, or their language.

Other than that, E-Dinar also offers the promise that these accounts and/funds are free of manipulation or control by governments or any other financial body.

What makes E-Dinar better than the competitors?

Given that E-Dinar is built on a different algorithm, there are a number of differences that set it apart from the competition, and also make it better than them. The following are some of the key features and strengths that make E-Dinar one of the best cryptocurrency projects in its category.

Return On Investment (ROI)

E-Dinar has one of the highest ROI in its class. All active users who own E-Dinar wallets can earn and stake coins by simply creating new ones. There is only one requirement, that the user must at least have 1,017 EDR in their wallet, and they also have to make an internal and external transaction daily, to the tune of no less than 1 EDR, without the commission fees.

The idea here is to prevent the risk of inflation as has been experienced with other projects in the past. Any node, therefore, that meets the set conditions will have their stakeholder status active, and as a result, they are able to stake.

Coin Distribution

Other than the ROI which amounts to roughly 0.66% of the total coins that the user keeps in their E-Dinar wallet, all the coins are distributed only to members of the network who are active. Therefore, this creates and maintains an active community that interacts with one another on a daily basis.

The stakeholder status is often valid only for 24 hours, and since users have to expend their spend at least once a day, there is constant communication and contribution on the platform. To support the distribution of coins, E-Dinar also charges among the lowest commissions in this class of projects. All the transactions attract a fixed commission of 0.001 EDR, and this is down to the effective delegate system.

Transaction Processing

One of the challenges that users have often highlighted about projects like Bitcoin is that it takes a long time to process and confirm transactions. This is not the case with E-Dinar. In fact, all transactions on E-Dinar are processed and confirmed in a period of 5-15 seconds. Compared with all the other cryptocurrency projects that offer the same services that E-Dinar does, this is one of the fastest and the best results.

By establishing a fast processing time, what E-Dinar has done is come up with an ecosystem that is convenient and smooth, and further enhances the user experience that members in the E-Dinar community can look forward to.

Delegation

Delegates are always an important part of any blockchain platform. It is no different in the case of E-Dinar either. Delegates are distributed servers that are trusted and help to keep the blockchain project alive. On E-Dinar delegates are assigned to some of the largest exchange houses in the Asian continent, especially those that have constantly proven their reliability and security.

The important role that the delegates play is that they hold account ledgers for all the transactions that are carried out on the blockchain. Through the delegated servers, information is sent about the status of the network and transactions, and all users can receive and access this in their wallets. In so doing, E-Dinar has created a culture of transparency as is required of blockchain platforms, where users are able to track all activity that goes on within the network.

Democracy and the fight against corruption

When compared with all the other algorithms that are running at the moment, DPoS is one of the most effective, fastest and most decentralized options available. Other than that, it also uses a flexible consensus finding model to execute operations.

By using DPoS, E-Dinar assures users that they can all play a role in determining the future of the platform. This is because all stakeholders can be involved in the voting process, building a consensus about some of the most important issues in the network.

One of the other benefits of using an algorithm that reaches a consensus like the DPoS algorithm is that it also offers protection to all the members in the blockchain. This is done by keeping the network free from intervention by unscrupulous users or those who would wish to alter the algorithm for evil reasons.

Security

One of the incentives that make blockchain platforms vulnerable to attacks is the financial element in them. As long as there is money somewhere, someone will always be interested in finding a way to get it without following the right channels.

With E-Dinar, planning an attack is an unattractive venture for any would-be attacker. The reason for this is because such an attack would be virtually impossible to execute, and financially untenable, given the peculiar technical capacity that is built into the DPoS algorithm.

Transparency

E-Dinar has managed to stay a cut above the rest in terms of transparency. This is also in line with the concept of blockchain technology. All transactions that are conducted on the blockchain are supposed to be transparent, thereby removing any element of doubt that might creep in. Users on E-Dinar can easily look at all the transactions that have been carried out on E-Dinar and review them at will.

Other than transparency, it also follows that security is a prime concern. E-Dinar uses elliptic curve digital signature algorithm ECDSA to encrypt all the data that is shared on the system.

Efficiency

How is it that E-Dinar has managed to remain efficient while other projects seem to be struggling from time to time? Any wallet that is not active on E-Dinar is not able to stake. As a result, such wallets are not able to load the network resources. Therefore, available power on the network can easily be apportioned to users who need it, according to their immediate needs.

Such a system makes sure that the risk of increased energy consumption when not needed is minimized. The network resources are only expended to users and services that need them. Based on this principle, this also means that the transaction processing time on the network is lower, even with new users coming into the system.

In the long run, E-Dinar also manages to stay energy efficient, hence an eco-friendly cryptocurrency solution. This is purely due to the fact that in DPoS, the unnecessary usage of network resources and energy is avoided. This, in the long run, means a reduction in carbon dioxide emissions.

The E-Dinar software is designed to run conveniently on mobile devices and normal computers, so there is very little energy spend required to access the blockchain.

Still, on efficiency, you will notice that most of the blockchain platforms tend to store wallets in your hard drive. There are so many challenges involved here. First, the wallet file is easily identifiable, and a hacker can search for it and access it on your drive. Other than that, you also end up setting aside lots of space for this. On E-Dinar, however, such blocks are kept in secure nodes on the network

How can E-Dinar be categorized?

E-Dinar is a new generation sustainable DPOS cryptocurrency. The goal behind the E-Dinar project is to establish an easy to use, fair and reliable financial tool than what most of the cryptocurrencies that are running PoW provide. E-Dinar is also a safer, stable and democratic investment instrument than fiat currency.

What’s E-Dinar’s vision on Security?

When it comes to cryptocurrency, there are lots of security challenges that have to be addressed from time. One of the biggest risks is the 51% attack that is not just inherent to E-Dinar but to almost all cryptocurrency projects. This is a theoretical challenge, though it is virtually impossible for one individual to amass that level of control in the system,

By using delegates in their operations, E-Dinar reduces the risk of a 51% attack, simply because of the very large pool of stakeholders on the platform. It is impossible for an attacker to attain at least 51% of all the witnesses on the blockchain.

Delegates on E-Dinar sign blocks at 2.5 seconds between each signing. Therefore, any delegate that does not produce a block at the right time can easily be detected by the rest of the delegates, and they can take the appropriate measures. The short duration of time between block intervals also helps because the other delegates can simply sign a delayed block before it becomes impossible to reverse it. having attained at least 66% of delegate signatures, blocks become irreversible.

Examples of E-Dinar use cases/applications

E-Dinar works just like any other digital cryptocurrency payment system out there. You can use it to make payments where the EDR is accepted, or exchange it for other digital assets at your favorite exchange. To do this, you would need access to a digital wallet, which is available for devices running different operating systems, including Linux, Windows, and Mac, and it is also available for Android and iOS platforms.

Resources

https://coincheckup.com/coins/E-Dinar-Coin

https://edinarcoin.com/

https://edinarcoin.com/news-en/

https://medium.com/@edinarcoin

https://edinarcoin.com/faq-en/

 

Posted on

EarthCoin

What is EarthCoin?

EarthCoin is cryptocurrency, but one of a kind. This particular coin is taking cryptocurrency and blockchain to the next level, perhaps where very few people ever would imagine.

Most people see the use of blockchain confined in financial matters and, perhaps the digital sphere. However, EarthCoin is making attempts to introduce blockchain technology in the one area that matters most, the environment.

If there is a topic that has been exhaustively discussed over the years, it has to be environmental conservation. From global summits with world leaders to local discussion forums, there is a consensus that we need to take better care of our environment, albeit for the greater good of generations that will come after us.

EarthCoin is built on the Scrypt algorithm. The idea behind EarthCoin is to provide a near-accurate value or estimate of all the natural resources we have on the planet.

This makes EarthCoin one of the cryptocurrencies that are poised to take the world by storm. Ideally, EarthCoin is supposed to foster fairness, trust, and openness.

The goal behind EarthCoin is to ensure sustainability and equitable development, alongside quantification of the natural resources we have on the planet. Therefore, through EarthCoin, we should be able to assign a digital asset unit to each of the natural resources in question.

What is the problem that EarthCoin Solves?

Over the years, interference, influence, and intervention by humans have been on the increase, resulting in drastic changes to the environment. As a result, the quantity and quality of some of the natural resources and the layers of the earth have been depleted or ended up evolving to a point where they cause potential threat and harm to the biological sphere.

It is our role as a higher species in the evolution ranks to find ways of solving some of these environmental concerns. The world never runs short of environmental problems on a global scale, both in the social environment and natural environment. These problems eventually end up causing dangers that are either interlinked or interrelated, and the consequences are far-reaching.

Imbalanced Ecosystem

There is an imbalance in the energy flow and circulation all over the world. All this is associated in one way or the other, by the action of human beings. A good example is the use of pesticides. These are effective in killing pests. By killing these pests we can look forward to bountiful crop yields, and save a lot of people from the scourge of hunger.

However, the pesticides are eventually passed down the food chain, and as the accumulation continues, they become dangerous to humans and other animals in the food chain.

This, in the long run, affects the ecosystem, causing severe damages. It increases radiation energy on the earth, which has dire consequences to the ecosystem, and for humans, the effects can be as far-reaching as hereditary biological mutations.

Global Warming

Owing to the amount of greenhouse gas emissions over the past 100 years, the global temperatures have increased by 0.6%. Global warming is actually a disaster whose effects are already being felt in so many parts of the world.

As a result of global warming, oceans are expanding their territories, and the ice caps are melting at a faster rate. What this means is that we end up with rising sea levels, which eventually has a damning impact on the livelihoods of people who live along the coastal areas.

Other than that, rising sea levels also have a terrible impact on the natural ecosystem and agricultural practices along the affected areas. Metrological disasters like droughts and floods have become commonplace.

Climate change is not restricted to the environment, but humans are also feeling the adverse effects. There has been an increase in mortality rates, the prevalence of infectious diseases, and an increase in disease risks.

Limited Biodiversity

We are currently witnessing the fastest decrease in biodiversity in the history of mankind. Compared to the undisturbed world, we are experiencing a mammal and bird extinction rate that is up to 1000 times higher. Some of the activities we engage in, like cutting down trees, excessive hunting of wild animals, urbanization and industrialization constantly pollute the environment.

Other than these, tourism is at an all-time high, and a number of countries have resorted to limiting the number of tourists that visit their countries, or specific tourism spots. This is because tourism brings about vegetative destruction. In the long run, we end up with near-extinction or mass extinction. As the biodiversity decreases, in the long run, we are looking at prospects of an erosion of the basic human existence.

Ozone Sphere

Since 1985, there have been studies into the depletion of the ozone layer, especially right above Antarctica. This has been linked by several scientists and researchers to the production of chlorine atoms. Depleting the ozone layer means we have little protection from UV rays.

Unfettered access to UV rays leaves us exposed to skin cancer, cataracts and also inhibits the action of the immune system. Other than the impact on humans, this also affects the crop yield, either reducing it or damaging the existing crops. It does not end there either, as the damage is also felt in the marine ecosystem.

In the long run, we are looking at a serious disturbance in the ecological balance. Some of the challenges that we experience as a result of this include the prevalence of photochemical smog, forest fires, damage to buildings and crops, uncontrollable/unexplained human disorders and poisoning.

Acid Rain

As a result of air pollution, acid rain is an evil that, unfortunately, most parts of the world has come to terms with. It gets worse that it has become a norm. The problem with acid rain is that it does not just destroy the soil and plants, but also acidifies the water bodies. Therefore, all the animals and plants that live off these water bodies are also at risk, as are those who eat the plants and animals in their diet.

What happens next? Plants and animals are endangered, skin irritation and diseases become rampant, including pulmonary sclerosis and pulmonary edema. Acid rain is naturally corrosive to paints, metal products, textiles, leather, and buildings. In China, for example, more than 30% of the country experiences acid rain, especially regions to the south of the Yangtze River.

Desertification

Desertification doubles both as a socio-economic problem and an environmental concern all over the world. More than 6 million hectares of land is left bare each year. Some of the regions that are worst hit include Mongolia, Pakistan, Afghanistan, India, and China. Without the right intervention measures, this will only get worse.

Contaminated Atmosphere

There are different pollutants that find their way into the atmosphere. The ones with the worst impact thus far, are nitrogen oxide, carbon monoxide, suspended particulate matter, sulfur dioxide and lead. Air pollution is one of the common precursors to ozone depletion, acid rain, and climate change. Plants and animals bear the worst brunt of this vice, though eventually we also suffer health concerns as a result.

How does EarthCoin Solve the problem?

EarthCoin aims to solve the problems highlighted above through data acquisition. The right data, shared with the right people at the right time, can help avert a crisis. Through EarthCoin, it is possible to collect and upload process data automatically in the blockchain ecosystem.

What EarthCoin does is that it takes away the need for manual intervention. In so doing, this improves the credibility of and uniqueness of the data available on such matters. EarthCoin makes use of the data acquisition sensors and the Internet of Things to collect raw data. This data is then uploaded through the API to the blockchain. The role of the EarthCoin blockchain is to authenticate any data that is transmitted through the edge gateway, thereby ensuring that only the authentic nodes transmit data.

As the blockchain evolves and the fusion with advancing information technology proceeds, data that was once difficult to come across is now easily accessible, and recordable and can be applied online.

While the team at EarthCoin is not capable of collecting data, this has not affected the quality of and the results obtained through EarthCoin. There are sensors deployed under IoT which help in monitoring the data available.

What makes EarthCoin better than the competitors?

When discussing EarthCoin, the comparison is not necessarily about the competition, but what makes it unique. As mentioned above, most of the crypto projects focus on technology and financial aspects. EarthCoin, on the other hand, is more geared towards the environment. For this reason, there are features unique to EarthCoin that set it apart from the other crypto projects.

Anonymity

EarthCoin borrows a lot from the concept of trustless computing. This is implemented in the nodes. The nodes do not need trust between them to operate as required. Other than that, there is no need for a public identity, and because of this reason, each of the participating nodes in the EarthCoin ecosystem is secured and protected.

Open Source

Another aspect of EarthCoin that makes it stand out from the other projects is the fact that it is an open source project. One of the reasons for this is because the entire system was designed to be transparent and open. It, therefore, follows that EarthCoin must be an open source program.

Reliability

In order to make reliability a reality, EarthCoin is designed in such a manner that every single participating node is able to get a copy of the entire EarthCoin database. This also raises the concern of 51% vulnerability to attacks that is imminent in all the other crypto projects. However, it is virtually impossible to gain that advantage.

Bearing this in mind, any changes that are made on the database in lieu of a single node are unable to affect any of the data content available in other nodes.

Collective Capacity

EarthCoin is easily maintained because maintenance is treated as a collective responsibility. How does this happen? Any of the blocks in the system are maintained by the maintenance nodes designed in the system. These maintenance nodes, on the other hand, are easily accessible to all the players within the EarthCoin ecosystem.

Fairness

One of the concerns that have been leveled against industry leaders Bitcoin is that the system by default encourages selfishness and unfairness. The way Bitcoin was designed, it is all about mining. As a result, trust and fairness are two things that you can expect not to enjoy when using Bitcoin.

Operating in the Bitcoin ecosystem can at times feel like an arms race. By concentrating most of the efforts on mining, it is possible that institutions, organizations, and even individuals with some high-res computing capacity are able to gain control over the entire platform.

This is not the case with EarthCoin. In this ecosystem, fairness and trust are enshrined in the core modus operandi. This is a commitment that espouses the vision of an equitable, and sustainable ecosystem, and platform for development. This, unlike the Bitcoin concept, helps to encourage and foster more development in the blockchain realm, by underpinning the concept of decentralization.

How can EarthCoin be categorized?

EarthCoin is a unique digital payment cryptocurrency that is committed to sustainable and fair development, and environmental conservation, preservation, and management.

What’s EarthCoin’s vision on Security?

EarthCoin is build based on the Bitcoin platform. Therefore, it shares most of the security features that Bitcoin has in place. Data processing on EarthCoin is through a consensus method, which classifies and stores data that is collected through any of the devices that run EarthCoin.

Any data that is collected is stored on the blockchain, while product data and pictures are sent to an IPFS distributed storage facility. This is done under the Meckel tree storage.

Examples of EarthCoin use cases/applications

Where has EarthCoin been applied, or where are there intentions to integrate EarthCoin in operations? Since this project is all about natural resources, there are plans to use it in the following spheres:

  • Water, air, and soil; the three most important environmental ingredients.
  • Fresh water, mineral resources, forests, land, fossil fuels, biological species
  • Aquatic ecosystems
  • Terrestrial ecosystems
  • Different landscape resources, such as native plants, water, and cultural heritage
  • Air resources

Resources

https://coincheckup.com/coins/EarthCoin

http://earthcoin.io/

http://newearthcoin.com/

https://medium.com/@getearthcoin