1. How do you ensure decentralization?
Decentralization of the EurBit token and its ecosystem is provided by several factors:
• Firstly, only decentralized cryptocurrencies are used (burned) in the process of mining.
• Secondly, absolutely any inhabitant of the planet can take part in the mining (emission) process. Moreover, he/she can do it independently, anonymously and without anyone’s permission. There is no need to pre-buy expensive computing equipment, to spend a lot of electricity and to have complex technical knowledge. It is very simple, on the surface it looks like an ordinary token sale, like exchanging one cryptocurrency for another, although this is not so. The project team can also take part in the mining process, but only as individuals, and on exactly the same conditions as all the other 7.7 billion people. The team does not have any more favorable conditions (pre-mine, inst-mine) and other additional opportunities to mine tokens.
• Thirdly, tokens and the ecosystem are based on a decentralized Ethereum blockchain, to which the members of the EurBit team have nothing to do with.
• Fourth, only miners make final decisions on the development and expansion of the ecosystem. The team of the EurBit project does not make any key development decisions and it works only as a maintenance staff. In addition, the project team pre-selects the best projects from those who applied for joining to the ecosystem, and presents them to miners for review and evaluation. In the process of mining (emission) and the subsequent stage of safe crowdfunding only miners choose which of the presented projects they want to finance and accept into the ecosystem and which not.
• Fifth, the beneficiaries from the emission of the EurBit tokens are only miners and their chosen startups joining the ecosystem. The EurBit project team has no material benefits from the emission of tokens and the work within the project.
• Sixth, the EurBit project team cannot influence on the determination of the emission size. The miners themselves set the emission size depending on the ecosystem’s needs in tokens. The presence of internal and external rates of the token, the difference between them, the presence or absence of promising projects wishing to become part of the ecosystem are excellent self-regulators of emissions, which are capable of both to speed it up and to completely stop it.