ELLCRYS

ELLCRYS COIN

WHAT IS ELLCRYS

Ellcrys is a blockchain that allows people around the world to build open and community-based software products and democratic Internet organizations. People from anywhere can offer their expertise to the Ellcrys organization, participate in decision-making processes, receive awards for their contributions and gain reputation in the network

PROBLEM

The web service provider currently limits the organizational account to only support single owners who are given unlimited access to add and remove users and manage accounts and all resources. We see this in services like Github, Stripe, Heroku and thousands more. Such an account or organization structure can not work for a decentralized organization in the future where there may be no single owner or leader, no trust and no headquarters

SOLUTION

At Ellcrys, git repositories are at the center of all collaborative efforts. This is an organization. By default, it's multiowned, meaning no owner, no leader, no trust and no headquarters. Anyone can retrieve the contents, encourage contributions, verify, and select pull requests and other proposals. Repositories may receive payments for services offered or donations. Contributors can collectively determine revenue-sharing and a unique management model for the repository.

Decentralized Git Hosting

Ellcrys can be used as a version control system for software projects where decentralized ownership is a requirement. In the future, business repositories or decentralized protocols (such as bitcoin, ethereum) will be held on the Ellcrys network.

Decentralized Autonomous Organization

Communities can build decentralized, business-centered organizations around the warehouse. These organizations can work on mobile apps, web apps / services, smart contracts, libraries etc. Decisions are made through a proposal and an electoral vote mechanism.

Software Outsourcing

Project owners can divert their open source projects to millions of independent developers and can retain ownership of their repositories, create and distribute tasks and retain power to set prices. Individual developers can complete tasks and earn rewards.

Paid Open Source

Maintainers products from open source products can create branches and set the price to be paid by those who capture the branch. Individual keepers and developers can also get coin prizes to fix paid software issues.

INTRODUCTION

Ellcrys is on a mission to create a new kind of organizational structure that not only allows non-customer collaboration, without leaders, but which enables the open source community to create real and honest businesses that solve real-world problems. Organizations that can compete with the business managed by the center today in terms of efficiency, scalability and impact. To achieve that goal, we will rely on an ecosystem that will rise up to support and grow the network.

Here is the category of the most important people to maintain the eclectic Ellcrys and make sure it develops.

VALIDATORS

The validator is the owner of the network nodes that contribute computing resources to power and secure the network. In turn, they are rewarded with new coins.

CONTRIBUTORS

Contributors are the people who create, manage and contribute work to the repository

COIN HOLDER / MERCHANT

The coin holders provide the coin liquidity required for contributors and end users to participate in the economy of Ellcrys. Contributors and end users buy coins from merchants to gain access to the network .

BUSINESS PROVIDERS / SERVICES

Service providers provide customized services tailored to Ellcrys organizations in exchange for coins. Some examples of services include cloud hosting & database, domain & management purchases, marketing and sales etc.

MARKETPLACE

Ellcrys Marketplace is where service providers display and sell their products and services to Ellcrys organizations. Although, Ellcrys organizations are decentralized, they can still purchase services through purchase proposals approved by members. All transactions will be paid using original coins. Some of the services available include but are not limited to:

- Web Hosting

- Managed Database

- Managed Marketing & Sales

- Business Registration

- Human Resource Management.

BLOCKCHAIN

We are building a blockchain capable of storing git objects belonging to a project. We are actively working and researching various concepts and technologies to ensure the Ellcrys platform is capable of handling thousands of transactions per second.

CONSENSUS ALGORITHM

Blockchain Ellcrys will rely on the Evidence-based consensus method. Proof of the Promulgated Country is one of the variations of the PoS that we are implementing.

SHARDING

The Ellcrys blockchain will be a multi-chain network capable of handling thousands of transactions simultaneously on sub-blockchains.

STORAGE OBJECTS

The Git object will be permanently stored in the File System Interface (IPFS).

SMART CONTRACT

While the Ellcrys network is not primarily a smart contract platform, it will be able to run smart contract applications written in established languages.

SMART CONTRACT

While the Ellcrys network is not primarily an intelligent contract platform, it can also run smart contract apps written in an established language.

1. Take Photo Paper Money
Anyone in the world can take photos of supported banknotes using a mobile phone.
2. Send Banknote to the Network
Send banknote photos to network nodes for validation.
3. Network Node Validation
The nodes on the network analyze the banknotes and reject the incorrect banknotes. The fingerprint of the accepted banknote is calculated and stored.
1. Crowd Sourced Validation A second validation phase requires users to manually validate banknotes. Users bet multiple coins and provide validation results for paper money. If the result is wrong, they lose their shares, otherwise they keep their shares and share with the newly created coins.
2. Coin Creating And Sharing
After validation and receipt of banknotes, new coins are created and shared between the owner of the banknote and the validator. The owner of the banknotes holds the largest share.

UNIVERSAL NODE REWARD
Blockchain currently provides incentives to node operators through systems that only benefit the nodes that mine or forge blocks. Often, the knot is very specialized, efficient and has no less powerful node. This means that less powerful nodes will not be rewarded even if they participate in ensuring system security. Ellcrys takes a different approach. We introduce Universal Node Reward, a system that ensures all nodes are eligible for monthly rewards based on their network availability level. Knots that have been active for a full month earn more prize coins than active nodes in the lower period. As the network in which the node stores the repository's assets,

Untuk informasi lebih lanjut: 

WEBSITE: https://ellcrys.co/ 

WHITEPAPER: https://storage.googleapis.com/ellcrys-docs/Ellcrys-Whitepaper.pdf 

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