[Elephant] [EL] Multifunctional Ethereum-based Blockchain PlatformElephant is a multifunctional economic platform enabling users to create and maintain businesses in a new way. The project is based on cryptocurrency elCoin, a decentralized Ethereum-based digital currency.
ElCoin is a digital token of Elephant contracts in Ethereum network. It’s a settlement unit valid within the contract. ElCoin features the following:
- Transactions confirmed in around 12 seconds
- PoS reward of up to 50% annually for wallet’s minimum balance in 10 days
- Convenient and secure web wallet and Android app
- Low transaction fees
Specifications- elCoin Ethereum smart contract
- Transaction confirmation time: 12+ seconds
- Base Ethereum algorithm
- Consensus algorithm: Proof of Stake (PoS) + Proof of Transaction (PoT)
- Premining: 20 million elCoin
- Maximum quantity of coins: unlimited (issuance depends on network activity, 10% annually at most)
- PoS – 50-10% during 2,550 days
- PoT – unlimited. Rewards of 200 ELC generated every 100,000 transactions.
- Issuance details:
http://elcoin.foundation/ru/blog/elcoinspace/1.html- Network fees for each transaction: 0.1% but at least 0.03 ELC and 7 ELC at most.
- Fee details:
http://elcoin.foundation/ru/blog/elcoinspace/2.html- Network’s first transaction: 12 December 2015
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