What is Einsteinium (EMC2)?
Future of EMC2 Cryptocurrency and know how to buy EMC2

#1: What is Einsteinium?

Einsteinium: The Basics

  1. The Einsteinium Foundation is the world’s first Non-Profit Organization backed by a crypto coin. The foundation commits itself to scientific research. The foundation provides grants to worthy science research projects.
  2. The Einsteinium Foundation’s currency is called Einsteinium (EMC2). It is an open source, bitcoin like digital currency. Einsteinium as a digital currency was designed to support scientific, technological, and philanthropic projects financially. It follows the proof of work algorithm similar to Bitcoin underlying algorithm.
  3. EMC2 was first mined on March 1, 2014. The total number of mineable EMC2 is capped at 245,465,283 tokens.

Einsteinium Development

  1. Malden Trifunovic, the Chairman of Einsteinium foundation is one of the board members and has been a regular crypto investor and a serial entrepreneur.
  2. Vladen Bozilovic also plays a vital role in the core team as an information technology department leader.
  3. Beyond the core team, a lot of people from all around the world have come together for the EMC2 platform. The community consists of people from Taiwan USA Canada and many other countries and aims to make it a complete decentralized network. The team wished to improve the entire infrastructure and foundation of the platforms that are being employed.

 

#2: What are the benefits of Einsteinium?

Einsteinium Technology

  1. Einsteinium works on a Proof of Work algorithm. This algorithm pushes miners to compete against each other in order to complete transactions on the network and get rewarded for the same.
  2. Users here send each other digital tokens which are recorded in a decentralized ledger. This distributed system gathers all the transactions into blocks. Once the transactions are confirmed, the blocks need to be arranged and linked.
  3. This is done by the special nodes called miners in a process called mining. The main working principles are complicated mathematical puzzles and a possibility to easily prove the solution. Miners across the network solve the puzzle to confirm transactions and add information to the blockchain.
  4. The complexity of a puzzle depends on the number of users, the current power along with the network load. The PoW algorithm is designed to make DoS attacks very costly and to put the emphasis back on the miners who have more computational power instead of favouring those with more money.



  1. The complexity of the network generated problem depends on the number of users, the current power and the network load. The answer to a problem is called a hash. As the network grows, it needs to remain accurate and fast without compromising its security. The hash function of each block contains the hash of the previous block, thus reinforcing the security in the decentralized ledger system.
  2. Although the backend technology of the Einsteinium network is based on one PoW algorithm, its nuances can be described in 2 phases. In December 2017, the Einsteinium Foundation had announced its decision to revamp the mining algorithm of the digital coin to make it ASIC resistant and GPU friendly. The decision was driven by the following two factors:
    1. Due to the fact that EMC2 supports scientific research and that the crypto space is developing rapidly, they wanted to stay at the top of the game in the crypto-space.
    2. It was a belief that students of the academic community should be able to easily set up an EMC2 miner, learn about mining, and save the coins for their financial security.
  3. The aim was to improve and spread the hash rate and unite developers and users to make EMC2 more accessible to people around the world. This constant evolution of technology adopted by Einsteinium makes it a good model for the crypto-space.

Features

  1. A major advantage of Einsteinium is the outcome of the focus on maintaining its stability.
  2. Einsteinium mining is divided into epochs of 36,000 coin blocks. Each epoch is expected to last in the range of 25 days. At this rate, all mineable coins will be in circulation by 2064. At this stage, a fork will lead to a new governance model.
  3. All of this will lead to a natural 2% inflation rate which is sustainable for stable governance. A taxation system is also introduced in the design. Coin mining is accompanied by 2.5% tax; 2% of which goes to the Einsteinium foundation and 0.5% goes to the maintenance of the network.
  4. In January 2018, Einsteinium announced a partnership with VoxTel (a subsidiary of ATW Tech). This partnership allows VoxTel autonomy from other carriers. Another year before this, BlueLab had announced their platform development partnership with Einsteinium.

 

#3: How to Buy & store Einsteinium?

How to buy Einsteinium (EMC2)?

  1. To purchase EMC2, one needs to have an account with a crypto exchange that sells it paired with other major cryptos, since EMC2 doesn’t seem to have a fiat pairing yet.
  2. Indacoin, Bittrex and others are some of the major crypto exchange marketplaces for Einsteinium trade using other major cryptocurrencies.
  3. CoinSwitch is a reliable exchange aggregator where one can find the best suited platform to trade EMC2 for cryptocoins like Bitcoin(BTC). Since it is one of the most trusted cryptocurrency exchange aggregator, it provides support to over 300 cryptocurrencies. It also provides one of the best rates by comparing rates across all major exchanges. One can trade or exchange Einsteinium coins(EMC2) at competitive prices through CoinSwitch using simple and fast steps.
  4. As of July 2018, one can buy 49793.806 EMC2 coins for 1 BTC. All a user needs to do is register on the exchange, purchase BTC or Ether coins for the required amount, if necessary and then exchange them for the EMC2 coins using a few simple clicks.

Where can you store EMC2?

  1. Although it is possible to store Einsteinium on exchanges themselves, it is obviously not recommended, or safe. Einsteinium’s official Excalibur wallet can be used to store the currency. They also have a 32 bit version of the wallet.
  2. It is also possible to store, send and receive EMC2 on Android or iOS. For this, one would have to use the Coinomi wallet. It is completely free to use.
  3. The Excalibur wallet also allows users to have a face to face transaction among them with the terms of the transaction being decided mutually.

 

#4: What is the future of Einsteinium?

Also Read: Complete Analysis of Einsteinium | Live Einsteinium (EMC2) Price Charts And Predictions

Month

Open*

High

Low

Close**

Volume

Market Cap

July 2018

$0.11517

$0.12401

$0.11517

$0.11768

3,69,210

2,50,20,800

June 2018

$0.14130

$0.15328

$0.14086

$0.15238

5,27,944

3,06,76,700

May 2018

$0.25892

$0.29786

$0.25181

$0.27374

1,76,35,700

5,61,70,000

April 2018

$0.21343

$0.22935

$0.21343

$0.22224

54,61,400

4,62,66,300

Trends

  1. As of 18th July, 2018, CoinSwitch's real time BTC to EMC2 calculator had calculated that the price for Einsteinium had seen an increase rate of 10.08% in the past 24 hours.
  2. However, while the current average price stands at $0.11, the average monthly price of the cryptocoin has seen a steady decrease over May-June, 2018.
  3. However, despite the above stated facts, Walletinvestor.com recommends EMC2 as a profitable buy. A five year forecast suggests a potential 371.94% return on the investment. Roughly half of that return (163.43%) could be cashed in at a one year time frame if it moves as predicted.

 

#5: How is Einsteinium different from other cryptos?

  1. Einsteinium is built on an open source technology and has already made its mark as a vital part of the Bitcoin community. The EMC2 donates around two percent of the fees it generates to a research fund.
  2. The biggest thing that sets Einsteinium apart from its peers is the fact that is supported by a passionate foundation. The fact that the foundation is not for profit adds to some assurance for its investors.
  3. Einsteinium is not just a mode of payment - it has additional built-in functions like anonymity, transaction fees, etc.

#6: Should you invest in Einsteinium?

  1. Before you invest in a digital currency, you should understand the status and the risks involved. A look at the major factors would tell us that EMC2 currently has a stable supply and has been consistently trading at a stable price.
  2. Corporate partnerships are a decent indicator of potential growth and its partnership with VoxTel could come in handy.
  3. The currency saw a huge rise in prices at the back end of 2017 owing to news of the announcement of a huge partnership.
  4. The announcement turned out to be a change in the backend algorithm and the currency saw an almost instant drop in its trading price.
  5. EMC2’s roadmap talks about its linkage with other platforms as well.
  6. If these claims materialize, the investment could be even more prudent.
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