WHAT IS EYESCOIN?Eyescoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Eyescoin use blockchain technology based on Waves platform where global payment network that is fully decentralized without any central authorities. Users can transfer and exchange Eyescoin on a peer-to-peer basis, paying transaction fees in the native WAVES token. Eyescoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Eyescoin is a proven medium of commerce complementary to Bitcoin.
FEATURES1. Blockchain
Using Waves platform blockchain, Eyescoin is capable of handling higher transaction volume than its counterpart – Bitcoin. Due to more frequent block generation, the network supports more transactions without a need to modify the software in the future.
As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items.
2. Open Source Software
Eyescoin is stable, fast and secured because Waves platform is built using the Scala programming language and uses a network consensus algorithm based on Bitcoin-NG, updated for proof-of-stake networks, called Waves-NG. Waves uses trusted gateways to issue blockchain tokens backed by fiat money and digital currencies for use on its own platform.
3. Eyescoin Wallet
Eyescoin is an open and comprehensive ecosystem, which contains all the elements necessary for wider blockchain adoption. The core wallet by Waves platform also known as the ‘lite client’, integrates a series of built-in features and third-party services.
4. Exchange
The decentralised exchange (DEX) is integrated within the wallet. This allows users to trade tokens on a peer-to-peer basis. The DEX uses centralised ‘Matcher’ nodes, which pair orders and execute trades in near-realtime, whilst ultimate settlement is carried out on the blockchain for security.
Getting started with EyescoinUsing Eyescoin to pay and get paid is easy and accessible to everyone.
How to use Eyescoin
1. Overview
Eyescoin is different than what you know and use every day. Before you start using Eyescoin, there are a few things that you need to know in order to use it securely and avoid common pitfalls. Eyescoin is a cryptocurrency that is reliable, secured and anonymous which protect your identity.
2. Choose your wallet
You can store Eyescoin in Waves wallet in your everyday life with your mobile or you can have Waves wallet for online payments on your computer. In any case, installing your wallet can be done in a minute.
3. Get eyescoins
You can get eyescoins by accepting them as a payment for goods and services or by buying them from a friend or someone near you. You can also buy them directly from an exchange.
4. Spend eyescoins
There is a growing number of services and merchants accepting Eyescoin all over the world. You can use Eyescoin to pay them and rate your experience to help honest businesses to gain more visibility.
How to accept Eyescoin
1. Processing payments
You can process payments and invoices by yourself or you can use merchant services and deposit money in your local currency or eyescoins. Most point of sales businesses use a tablet or a mobile phone to let customers pay with their mobile phones.
2. Accounting and taxes
Merchants often deposit and display prices in their local currency. In other cases, Eyescoin works similarly to a foreign currency. To get appropriate guidance regarding tax compliance for your own jurisdiction, you should contact a qualified accountant.
3. Gaining visibility
There is a growing number of users searching for ways to spend their eyescoins. You can submit your business in online directories to help them easily find you. You can also display the Eyescoin logo on your website or your brick and mortar business.
How does Eyescoin work?This is a question that often causes confusion. Here’s a quick explanation!
The basics for a new user
As a new user, you can get started with Eyescoin without understanding the technical details. Once you have installed Waves wallet on your computer or mobile phone, it will generate your first Eyescoin address. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works.
Balances – block chain
The block chain is a shared public ledger on which the entire Eyescoin network relies. All confirmed transactions are included in the block chain. This way, Waves wallets can calculate their spendable balance and new transactions can be verified to be spending eyescoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography.
Transactions – private keys
A transaction is a transfer of value between Eyescoin in Waves wallet that gets included in the block chain. Waves wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called leased.
Processing – mining
Waves use a Proof-of-Stake algorithm in which the WAVES you own (or that have been leased to you) reflect your mining power. The more you own, the higher your chances of processing the next block and receiving the transaction fees as a reward. Essentially it’s a form of interest on your balance.
Some things you need to knowIf you are about to explore Eyescoin, there are a few things you should know. Eyescoin lets you exchange money in a different way than with usual banks. As such, you should take time to inform yourself before using Eyescoin for any serious transaction. Eyescoin should be treated with the same care as your regular wallet, or even more in some cases!
Securing your wallet
Like in real life, your wallet must be secured. Eyescoin makes it possible to transfer value anywhere in a very easy way and it allows you to be in control of your money. Such great features also come with great security concerns. At the same time, Eyescoin can provide very high levels of security if used correctly. Always remember that it is your responsibility to adopt good practices in order to protect your money.
Eyescoin price is volatile
The price of a eyescoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings with Eyescoin is not recommended at this point. Eyescoin should be seen like a high risk asset, and you should never store money that you cannot afford to lose with Eyescoin. If you receive payments with Eyescoin, many service providers can convert them to your local currency.
Eyescoin payments are irreversible
Any transaction issued with Eyescoin cannot be reversed, they can only be refunded by the person receiving the funds. That means you should take care to do business with people and organizations you know and trust, or who have an established reputation. For their part, businesses need to keep control of the payment requests they are displaying to their customers. Eyescoin can detect typos and usually won’t let you send money to an invalid address by mistake. Additional services might exist in the future to provide more choice and protection for the consumer.
Eyescoin is not anonymous
Some effort is required to protect your privacy with Eyescoin. All Eyescoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Eyescoin address. However, the identity of the user behind an address remains unknown until information is revealed during a purchase or in other circumstances. This is one reason why Eyescoin addresses should only be used once. Always remember that it is your responsibility to adopt good practices in order to protect your privacy.
Government taxes and regulations
Eyescoin is not an official currency. That said, most jurisdictions still require you to pay income, sales, payroll, and capital gains taxes on anything that has value, including eyescoins. It is your responsibility to ensure that you adhere to tax and other legal or regulatory mandates issued by your government and/or local municipalities.
How to purchase EyescoinEyescoin mainly use Waves DEX where you can Buy or Sell Eyescoin with BTC, ETH, WAVES and other supported Altcoins in Waves DEX.
More info on how to trade in Waves DEX can be found;
1)
https://support.wavesplatform.com/forums/2-knowledge-base/topics/2305-how-to-trade-tokens-on-the-dex/2)
http://www.waveswiki.org/index.php?title=Tutorials:_How_to_trade_tokens_on_the_DEXEyescoin Asset DetailsAsset ID : 25rcMsgez5DoExqwcYKEgoKN23XRHfFAy2uP3atMhJzT
Name : EYESCOIN
Symbol : EYC
Issuer : 3PAjFnQUExaMuRyhpdV9nFy9cKTivEdNhyc
Decimals : 8
Total supply : 55000000.00000000
Circulating : 2999999.00000000
More Info on Eyescoin at
https://eyescoin.org
