Topic: Elhereum (ELH) (Read 170 times)

I just spoke with one of the hired developers of ELH. He has recently convinced the ELH administrative team to AVOID increasing the ELH holding requirement for staking and receiving rewards, in order to have more active nodes on the network. While this does not have the same benefits as the original system, it has other more important benefits, such as added network security, more nodes, more resistance to network attacks, etc.

This provides an easier entry for those who wish to deploy an ELH node, and will ultimately lead to a network with more adoption and security. While I have mixed feelings about the update, it is obviously a superior solution.

ELH is definitely a long shot, in my opinion. But, I invested in it and I’m running a node. The rewards for running a staking node are fairly good. There are more nodes joining in every day though, so rewards are declining somewhat rapidly. Every 100,000 blocks, the requirement to qualify for staking rewards increases by 10,000 ELH. At the current rate, this forces stakers to buy more ELH in order to continue receiving rewards after each block height milestone of 100,000… but the staking rewards help supplement the required quantity of ELH that needs to be purchased.

This process should weed out the nodes, and the ELH rewards given to people with smaller quantities of ELH. Only the truly committed will continue to qualify for rewards as the block height increases in 100,000 increments. This is a good thing, but also a bad thing. It may centralize the project a bit, for a while, until the node reward requirement caps off at 100,000 ELH at block height 1,000,000. However, this gives the project time to develop while having less selling pressure, and more buying pressure as node holders accumulate more ELH to qualify for more rewards.

Overall, I am in touch with the developers of ELH, and feel that their marketing could be improved drastically. I believe that they are building a foundation before pushing the product. There is great potential for this project, because tokens and NFTs can be launched within it’s network. It is not a simple Bitcoin fork or something like that, it is an Ethereum fork with it’s own sophisticated network.

Nothing has been built on ELH yet, the goal is to simply increase buying pressure through the node reward system, but I would say that this system is much more similar to a masternode system than a staking system, because the coins never leave the user’s wallet, and are always under the user’s control, to be sent at the user’s discretion.

If anyone is interested in checking out the staking portal, it is very interesting so far. They have made several updates to it within the last several days, and it is looking quite good at this point.:

https://stake.elhereum.com

The website needs a major upgrade, but I feel that the team is prioritizing the staking portal first, because the staking function is currently the main thing that is preserving (and adding to) the value of the project. However, they have created a Telegram community chat, which I will include below, as well as (more recently) a subreddit group.

https://t.me/Elhereum_chat

https://www.reddit.com/r/elhereum/

The announcements channel can be found below:

https://t.me/elh_elhereum

For more direct contact with the development team, you could contact them by email, but their email response rate is not very good (for now). However, they are quite busy improving the staking portal and website at the moment. I believe once their work slows down, they will be more responsive.

[email protected]

With all of this said, ELH is a complete gamble. It has tons of potential, but this potential rests on the community and the development team. I took a chance on ELH, and hope it will yield considerable fruit in the coming months as I accumulate more ELH and continue to run my staking node.

I have more comments about ELH, but I’ll save them for the future. This post is getting rather long.

Yes it is a shitcoin - they using a similar name to get the stupid people mining their coin, because they thinking it must be a good coin. The same happens after the "Hash Wars" in 2018 between BTC and BCH - after that so many Coins with BTC in their name pop up to take some money from stupid people.

And i don´t how people think an Ethash coin can be the next big think for GPU miners  ethash is owned by asics now

Mining ELH is pretty useless the staking nodes are starting off at 10,000 coins and going up 10,000 coins every time with 100mh that would take a little more than 5 years and by that time you would need an additional 40,000 coins to get a staking node.

Interesting to see just another Ethash algorithm coin out there that can be mined.It is good for the crypto community but only if this coin truly solve something or at least it incorporates the same products that the old Ethereum did before running into PoS.The mining community is badly in need of a coin to replace Ethereum and so far the alternatives or better from the alternatives only Ethereum Classic is holding as Ethereum PoW is going down dramatically together with EthereumFair.I wonder what is the strong point of this coin as it is not explained very well in their websites which was a cheaply built one.

I found Elhereum (ELH) on MiningPoolStats this morning. It's been running for about 10 days now. I did not find anything on BitcoinTalk. I am in no way associated with this project.

Website
https://elhereum.com/

Explorer
https://explorer.elhereum.com/

Multiple Pools
https://miningpoolstats.stream/elhereum

Twitter
https://twitter.com/E_L_H_E_R_E_U_M

Telegram
https://t.me/elh_elhereum

Algo
Ethash