Einsteinium EMC2: Scientific Research Coin Eclipses Bitcoin In Value?

Einsteinium, and the platform responsible for the blockchain of the same name, has a currency known as EMC2, and has seen an astronomic value increase of more than 200,000% this year.

Like other platforms, Einsteinium pays out a block reward to its miners for verified transactions. And the company gets 2.5% of the miner’s fee. 80% of that fee goes towards funding scientific research across a diverse range of disciplines.

The company has stated that more than 16 million tokens have been gifted to science projects, opening a new line of revenue for cash-strapped researchers.

Unlike the stock exchange, which returned only 7% this year (inclusive of reinvestment and inflation), the cryptocurrency craze has left them in their wake.

Cryptocurrencies Make Their Presence Known?

At the start of the year, all of the cryptocurrencies put together was worth just $17 billion dollars, with Bitcoin making up a huge chunk of this capital. But near the end of December this year, that figure soared to more than $640 billion dollars. That amounts to a 3,500% increase in value in less than a year.

Bitcoin is the clear favorite for the increase in this market cap. It’s known by most as the original (and most trusted) virtual currency out there, as well as means of exchange used by both retailers and online companies.

One interesting development in Bitcoin this year was the launch of futures trading for the currency. It also received support from Japan, as it recognized the coin as being a regulated type of tender.

Say Hello To A Unique Virtual Money Up Over 201,000% In 2017

There has been an enormous surge in interest put on alternative coins such as Ripple and Ethereum, which have both surged more than ten thousand percent this year. But this hike is nothing compared to the more than 200,000% value increase of the token Einsteinium and it’s EMC2 token.

To start with, let’s track back to the beginning of year, when it was worth not even 1/10 of a cent. Now it’s worth more than $1.75 per coin.

EMC2 has a market that is pegged to its blockchain, which is a decentralized ledger used to keep track of transactions.

But one thing that makes the EMC2 token stand out is from the oversight of its Einsteinium Foundation, a regulatory body that heads it development. Unlike more profit-centered blockchains, Einsteinium’s core values are to provide a fund for scientific progress, as well as for studies that involve the blockchain.

The 411 On Einsteinium’s Research Projects And Block Rewards

You might be wondering how the EMC2 token is paid out, and how researchers can get their hands on that money. As stated previously, each time a block reward is given to miners for recording trades on its blockchain, the enterprise earns 2.5% of the reward. Of that money, roughly 80% gets put back into financing research, with the rest reinvested into marketing and other contributions.

To control inflation of the EMC2 token, block rewards diminish over time. This may lead prospective miners to believe that mining the coins would not be profitable, but there is a remedy in place to keep entrepreneurs on the hook: wormhole events. Wormholes in this regard function more like lotteries, as they are random in nature. Each time a miner proofs a block, there is a chance that they will receive the lottery windfall. These incentives become more common over time, in line with the decline of the block rewards.

Every 36,000 blocks that are generated into the Einsteinium ledger equals what’s called an “epoch.” It takes about a month for each epoch to pass, and a round of voting by the Einsteinium community commences. Each voter decides which project they feel would serve society the best.

The Current Buzz Supporting Einsteinium’s Leading Year

So what is it that’s surging the price of EMC2 coins?

Starting in October, its community announced a hard fork. This was intended to decrease the number of tokens by approximately 55 million. The fork concluded on December 10th, and moved the number of tokens in circulation by 300 million to 245 million. The reduction of the possible market cap of EMC2 tokens means that it could be seen as a lucrative investment opportunity, much like Bitcoin.

There have also been a few rumors posted regarding a possible deal between Einstentium and Apple, but those rumors were quickly dismissed.

However, on December 19th, the team confirmed that a different fork was coming soon. Einsteinium will soon change the algorithm of the EMC2 currency to make it ASIC resistant and friendly for GPUs to mine.

GPUs are preferred by miners as they are cheaper to run and allow anyone to generate EMC2 tokens.

In spite of the wake of optimism that surrounds Einsteinium, it’s unclear if it will be able to retain is historic growth of over 200,000%.

Since the moves by Einsteinium are so large, combined with a lack of knowledge among the general public, a correction for the EMC2 token may be in the process of occurring.