EcoVerse (ECX And ECR Token) Set Out To Be Self-Sustaining Blockchain System
Ecoverse has been designed to be one-of-a-kind self-sustaining blockchain solution. Its primary goal is to deal with daily usability issues, and the universal adoption of blockchain by addressing issues pertaining to interconnectivity, security, and transaction times. The platform boasts of being able to execute up to a million transactions in a single second.
Ideally, the right environmental conditions would have to be available for this to become a possibility. Many crypto users dream of being able to achieve this kind of goal. The following is an in-depth look at this overly ambitious project.
The Ecoverse ecosystem revolves around the use of two basic coins. Each coin has a different, and unique function in this ecosystem. They include:
It was the first token to be released and is one that was created to cater for daily usage needs. Its goal is to act as a network token by working as a fiat currency that is backed by digital assets. The coin will operate like a traditional prepaid card, that can be used by consumers to pay for goods and services.
It is the second coin and is one that is expected to function as a cryptocurrency. It is a hybrid token that will be used to store value in the network. An authentication and fee-charging system for all applications will be provided by ECR. This means that the applications will now be in a position to provide services to clients using blockchain technology.
With the presence of two coins—one to address KYC/AML regulations and another to address privacy issues—it is easy to see the reason why its creators believe that this platform has been designed to be self-sustaining.
Regardless of how well-crafted they may be, many blockchain solutions today suffer from various limitations, e.g., slow transaction times. But compared to the other complex blockchain technologies, Ecoverse has chosen to use a highly-simplified algorithm that puts a lot of emphasis on cooperation between the various nodes, as opposed to encouraging them to compete against each other.
As a result, its ecosystem automatically configures blockchain platforms for two cryptocurrency coins, the above-mentioned ECR and ECX. The solution also seeks to utilize a consensus algorithm that will make use of artificial intelligence. The AI will be used to quickly and appropriately communicate, as well as resolve any problems that may be noted in the nodes.
Anonymity And Visibility
The ECX and ECR cryptocurrency coins require high levels of anonymity and visibility due to their nature. ECR is expected to provide visibility, but under the assumption that it must first comply with AML and KYC. In addition, all the information being collected need to be compliant with all GDPR rules. This means being able to provide a guarantee on the absolute rights of each individual when it comes to handling information that is of a personal or sensitive nature.
- Start Date—15th November 2018
- End Date—14th December 2018
- Distribution Channels—Not Specified
- Total Number of Tokens Available—2, 500,000,000