Topic: [ANN][ELL] ELLCRYS - Decentralized Git Hosting for Developers & Designers (Read 1236 times)

Introducing SafeHold: Desktop Wallet & Miner For Ellcrys

SafeHold — a desktop app for sending, receiving and mining transactions on network (currently the test network). SafeHold makes accessing Ellcrys functionalities easy and straightforward. https://medium.com/ellcrys/introducing-safehold-desktop-wallet-miner-for-ellcrys-41df3f385083

Hi, how are things going with the development of the alpha version? Thanks for the info.

Hey guys, in the wake of Microsoft acquisition of Github. How this team feel about the dynamics/change of crypto open-source space?

I see this project is very interesting. success

Hello admin, i have problem with my erc20 wallet was hack by someone, can i change my address with new address wallet?

Hello! Could you please make your question clear? I do not understand your question.

Really interesting project. I tried the demo and it functioned effectively.

EllCast - Introduction To Ellcrys

A Q&A session with the founders of Ellcrys Network. This is the first of a series of podcasts aimed at informing our contributors about motivation, opinions and status of the Ellcrys project.

https://soundcloud.com/ellcryshq/ellcast-introduction-to-ellcrys/s-3HM5R

Demystifying Ellcrys Products, Budget & Market Cap.

In this article, we will describe the various products to be developed by the Ellcrys PBC. These are the absolutely required products that will ensure we achieve the vision to create an ecosystem where developers create, manage and work for decentralized organizations.

Over the last 3 months, we have received a lot of feedback from our rapidly growing community. Some of these feedback are concerns about our hard caps and market cap. Basically, many people didn’t understand why we are attempting to raise $100M. We believe we have not done a good job in terms of educating our community about the various products and their financial requirements and as such they were unable to see the full picture. Hopefully, at the end of this article, we will make thing clearer.

This article will also include references to existing and similar services and the funding they received within 2–5 years of existence. It is important to note that some of this services/platforms where in Pre-Alpha phase of development. This should give the reader an idea about the financial requirement of a product.

https://medium.com/ellcrys/demystifying-ellcrys-products-budget-market-cap-abbec80659c4

Ellcrys: A Decentralized Version Control System For Building Open Source Software And Services.

Web service providers limit organization accounts to only support single owner/admin that is granted unlimited access to add and remove users and manage the account resources. We see this in services like Github, Stripe, Heroku and thousands more. This kind of account structure cannot work for future decentralized organization where there is no single owner, no leader, no trust and no headquarters. Just people from all over the world working together in an open, trustless, democratic organization structure building centrally or decentrally executed software products. 

Ellcrys is a blockchain network that will allow anyone in the world start, join or contribute to open source software products and receive compensation for their contributions. Users will be able to create decentralized Git repositories that are censorship resistant, highly available and can be truly owned by multiple persons. Repositories can include all kinds of codes for different purposes such as web services, smart contracts, mobile apps libraries/packages, frameworks etc.

To enable open, trustless, democratic collaboration, we leverage Git, the most popular version control system, to allow anyone around the world to easily contribute to a project. Contributors can fetch branches, push changes and create pull request proposals to have their work merged. Ellcrys blockchain decentralizes a git repository by bundling and distributing git objects across the network. Contributors will be able to synchronize their local repositories seamlessly with the network using existing git tools.  Ellcrys is taking an approach that will bring transparency at the repository level.

A git branch can contain functions that may be compiled and executed against transactions. These functions are known as smart contracts. Ellcrys smart contracts are repo-addressable; This means that transactions are addressed to the repository they were loaded from as oppose to the contract address. This allows for future upgrades without breaking dependent applications. Transaction originators can still send transactions to old versions of smart contracts if the latest version is not preferred. Ellcrys will support development of smart contracts using languages such as Javascript, Go, Ruby & Python.

We believe maintainers and contributors of open source need to be properly incentivized to ensure continuous development and quality of projects. To that end, Ellcrys will allows open source projects the ability to create paid branches that attract a fee to fetch. Maintainers and contributors can benefit from paid issues created by users. Contributors will earn coins when their pull request is accepted by project’s community.

Ellcrys will level the playing field by allowing anyone outsource their software projects, set price as low as they can afford and allow independent developers take up task based on their preferred pricing.  The Ellcrys native coin is known as “Ell” (plural: Ellies, symbol: ELL). It is created through a process where people around the world send their national banknotes to the network and have it analyzed, verified, indexed and exchanged for Ellies. This process is referred to as “minting”. There will be a total coin supply of 10,000,000,000 (Ten Billion). These Ellies will be distributed through a process known as StackMint.  StackMint allows millions of people from all parts of the world exchange their national banknotes for ELL. StackMint aims to provide a fair distribution model where everyone can constantly receive bits of Ellies without needing to purchase expensive hardware as seen in PoW systems.

The pre-ICO sale of the ELL token will run from February – March 2017, and the ICO sale will run from March – April 2018.

https://www.techbullion.com/ellcrys-a-decentralized-version-control-system-for-building-open-source-software-and-services/?utm_content=bufferc58f7&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Your project was listed on Foxico.io! https://foxico.io/project/ellcrys

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Will there be or is there a bounty Campaign?

What turnover are you referring to? Please clarify.

What is your monthy turnover as of today?

Validation is a two phase process.

The first phase will be performed on-chain by nodes collecting transactions containing images of banknotes and passing them to an image analyzer to detect and filter out obviously invalid banknotes. This on-chain validation is supported by a currency analyzer trained to detect any unwanted/unsupported banknotes or denominations. When a banknote successfully passes through this process, a fingerprint is derived and stored on the blockchain along with the image (stored on IPFS). The fingerprint constructed is unique to every banknote. If a banknote with matching signature is sent to the network, it will be rejected. No two banknotes will ever be accepted.  

The second phase is crowd-powered. This involves users with compatible wallet applications pulling partially validated (banknotes that have passed on-chain validation) banknotes for manual verification. When a user (wallet owner) pulls a banknote, they must stake some coins as a proof of their honesty and send their approval/disapproval votes. When a certain number of votes are received for a single banknote, the majority vote determines the final validity of the banknote. Users who end up in the losing side will forfeit their stake to the winning majority. The winning majority shares the validation stake and get a share of the new coins generated. After certain point in time, the amount of stake required increases to serve as a difficulty function.

That is the current process for validation. We are still working on this and expect it to change.

You missed an opportunity to share some knowledge.

I like the idea of the universal node reward and the stack minting, but how do you validate the banknotes for the StackMint process?

BS.

There are two ways to 'mine' coins:

• By running an Ellcrys client/node and getting rewarded through our Universal Node Reward (UNR). With Universal Node Reward, the network rewards all nodes with new coins based on how active/available they had been in the previous month. Nodes that form a consensus group (delegates) will get additional coins.
• With StackMint, you take a photo of your national banknotes (USD, EUR, GBP etc), send them to a network node and exchange it for new coins after your banknotes must have been validated. Read this article to learn more.
  

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How to mine this coin?