This article describe the purpose of ethereum blockchain in a decentralized organisation platform, of which EInc stands as a fork to ethereum blockchain.
How can we describe forks?
Forks are a common phenomenon in computing software and representing a technical term.
What is Decentralized Autonomous Organization?
This is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performance. Ethereum provides a decentralized Virtual Machine, which can execute scripts using an international network of public nodes. It is a BLOCKCHAIN Based ORGANIZATIONS and also the First LIVE DAO platform.
Short History about Ethereum Blockchain
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system went live on 30 July 2015, with 11.9 million coins.
What do we understand by EINC?
EInc is a cryptocurrncy platform that allow the teams around the world to create (name, contract address, renewal data, registratation) manage, and operate a decentralized democratic organization that are more reliable and trusted.
EInc enables efficient creation of value without borders, restrictions, and costly intermediaries or a trusted third party.
An image showing EtherInc Blockchain
Does EtherInc have a wallet?
Yes! EtherInc platform have two wallet options by forking existing open-source code of MEW (MyEtherWallet) and (MetaMask).
What is the main purpose of forks?
As it is well known, that EInc is a fork to ethereum blockchain that distributed ledger made up of “blocks” of data that is continuously growing. Forks appear when there is a Change in the Underlying Rules of the Protocol which represents a conscious change of the underlying codes by developers, and are permanent.
Although, some developers usually change the code base due to adding new features to enhance the network’s functionalities and also Changing a core rule such as increasing the block size.
In Ethereum Blockchain, Decentralized Autonomous Organization is a core concept and benefit of blockchain that allows the system to be transparent and as a result trust is established.
Also, lets view the eInc dApp; eInc dApp is a smart contract with inbuilt protocols to run a organization.
How does Ethereum Blockchain improve EtherInc?
Ethereum blockchain improve etherInc platform by serving as a single shared ledger among interested parties like;
Reducing block time from 15s to 6s which improved
Transacting Network per second by 2.5x
Transaction confirmation speed by 2.5x
Miner reward by 2.5x
Removing uncle reward
Implementation of finite supply for mineable coins.
In Conclusion, EtherInc Decentralized Ethereum platform is a unique cryptocurrency that generate smart contract with predefined protocol (eInc protocol) and elimination of the possibility of a single point of failure or control and remove traction and make the process faster and also reduced cost as the middlemen will be removed.
For more information:
Website: https://einc.io
Whitepaper: https://einc.io/#docs
Twitter: https://twitter.com/eIncHQ
Telegram: https://t.me/eincHQ
Youtube: https://www.youtube.com/channel/UCuXo10jvemdXWeROA1lc9Uw