ELEMENTH-BLOCKCHAIN-APPLICATIONS
*elementh-Blockchain Designed For The Ecommerce Sector creates an alternative protocol for application development*
What about Blockchain?
Elementh will achieve it by creating Blockchain with the Turing-complete built-in programming language, enabling everyone to write smart contracts and decentralized apps, enabling the use of integrated product cards, e-commerce transactions and proprietary transfers. Elementh will use Blockchain technology to manage the presence and list of goods and to ensure that both users and sellers will work together.
Customers will be able to pay using smart contracts and can easily return the money if the product never arrives (because Blockchain can track the product and verify if the product is shipped or not).
Elementh has a goods system, which can also be used in a large number of applications, such as tracking the movement of certain goods from its creation to the current owner, tracing the goods and detecting the counterfeit goods.
The idea of taking basic blockchain technology and applying it to other concepts also has a long history. In 2005, Nick Szabo proposed a concept of proprietary rights protection with owner authorization, which explains how "new advancements in replicated database technology" would enable the use of block-based systems to store a registry of someone who owns multiple lands, creating a complex structure that includes concepts such as manor, unprofitable ownership and land tax. Unfortunately, at that time no database system was replicated effectively, so the protocol was not actually implemented in practice. However, after 2009, once the Bitcoin decentralization consensus was developed, a number of alternative applications emerged quickly.
The lack of Bitcoin smart contracts, firstly, the absence of the Turing-complete programming language, led to the emergence of Etereum blockers, a special blockchain that made it possible to write smart Turing-complete contracts. Ethereum plans to switch to the PoS protocol in the future, but is currently still working on the PoW protocol, which affects the speed and cost of transactions on the system. A promising alternative would be the EOS block, which is currently being developed. It provides the ability to write intelligent contracts, work on dPoS protocols and facilitate the creation of decentralized DApps applications based on its own blockchain.
Elementh's goal is to create alternative protocols for decentralized application development used by e-commerce, provide the standard quality nomenclature, guarantee the ownership of certain products and the ability to create smart contracts specifically for e-commerce. Elementh will achieve it by creating blockchain with the Turing-complete built-in programming language, enabling everyone to write smart contracts and decentralized apps, enabling the use of integrated product cards, e-commerce transactions and ownership transfers.
Nomenclature of Unified Goods
Every supplier / distributor / seller in the world has his own data format for the goods, and more importantly, his own nomenclature. Their numbers are huge and growing every day. For example, let's look at search results in google.shopping for "iphone 7 256gb red":
As you can see, each store has a different name for the product, while search results also bring other iPhone models, followed by iPhone 7 256gb other colors and so on. The obvious solution to this problem is the creation of a unified nomenclature of goods that enables users to view bids on products of interest to one card of goods and stores to select the supplier that is most beneficial to them.
One of the main features of Elementh is the availability of a uniform nomenclature. To ensure that the item card is as accurate and accurate as possible, and to reduce the chances of making a duplicate card, the cost of making and using the card will be different. To create merchandise cards, participants must pay, for example 1 EEE (the price will be determined by choosing a delegate).
When the owner adds items to the system, he is offered to use an existing card or create a new one. The use of existing cards costs 100 times less than the new ones (for example, 0.01 EEE). The cardholder receives a gift for each owner of the goods using his card, and also to make transactions using this card. Each participant in the system can complete the information in the existing card, and the cardholder may accept or reject the proposed changes.
DPOS protocol
According to the concept of decentralization of autonomous DAC companies, decentralization means that each shareholder has an effect that is proportional to the number of shares and that the decision taken by selecting 51% of shareholders is irreversible and compulsory. The challenge is how to reach 51% of the approval threshold in a timely and efficient manner.
To achieve this goal, each shareholder may delegate his right to vote to the delegate. 100 delegates with the largest number of votes delegated generate blocks according to a specific schedule. Each delegate is allocated a time frame for block production. If he does not produce a single block, then their turn is skipped, and the next delegate produces one block according to the list. All delegates receive a payment of 10% of the average size of the transaction commission. If the middle block contains 100 shares cost, the delegate will receive 1 share as payment.
There is the possibility of delay in the network could lead to the fact that some delegates can not generate their blocks at the right time, and this will lead to a chain split block. However, in practice this is not possible, because a delegate can establish a direct relationship with another delegate before and follow it in the chain. With this model, new blocks can be generated every 10-30 seconds and under normal network conditions, block split blocks are unlikely or can be fixed within minutes.
ICO
Elementh blockchain has its own built-in currency, elementh (EEE), which is used for all operations within the Element block, for example, payment of transaction costs.
Token and ICO information: EEE, ERC-20 standard
Total supply: 303 000 000 EEE
Token distribution:
217 500 000 (71.78%) EEE - purchasers
45 000 000 (14.85%) EEE - team
40 500 000 (13.37%) EEE - partners and advisors
Private Pre-Sale
Private Pre-Sale start date: 15 January 2018 00:00 UTC
Private Pre-Sale end date: 31 January 2018 23:59 UTC
Private Pre-Sale soft cap: -
Private Pre-Sale hard cap: 1 500 ETH
Private Pre-Sale price: 1 EEE = 0.0001 ETH
Private Pre-Sale bonuses scheme: 50% Tokens
Pre-ICO
Pre-ICO start date: 1 February 2018 00:00 UTC
Pre-ICO end date: 14 February 2018 23:59 UTC
Pre-ICO soft cap: -
Pre-ICO hard cap: 1 500 ETH minus received in Private Pre-Sale stage
Pre-ICO price: 1 EEE = 0.0001 ETH
Pre-ICO bonus scheme: 1st day: 30% Tokens, 2nd day: 15% Tokens
ICO
ICO start date: 1 March 2018 00:00 UTC
ICO end date: 31 March 2018 23:59 UTC
ICO soft cap: 10 000 ETH
ICO hard cap: 30 000 ETH
ICO price: 1 EEE = 0.0002 ETH
ICO bonus scheme: 1st day: 30% Tokens, 2nd day: 15% Tokens
System Goods
Unlike the token system, the goods system also provides the ability to extract certain products at a particular address, which shows all possible item data (such as name, manufacturer, barcode, etc.). And if an identical item already exists in Blockchain, the publisher will receive a message about it, and he will have the opportunity to show how many items he wants to release. The items in the system are in one copy and if the goods with the same serial number are added to the system,
any dApp can notify buyers that the origin of the goods is unknown. If the ownership chain is from the manufacturer, the authenticity of the goods will be made throughout the network.
Account is one of the basic objects in Elementh; This is used as the identity of network participants. Each account has:
EEE internal currency account balance;
information on ownership of goods To store goods data, such as specifications, photos, EAN codes, serial numbers, and others, Elementh uses the IPFS protocol. IPFS (the Inter Planetary File System) is a hypermedia communication protocol addressable, peer-to-peer. IPFS lets you create a fully distributed app.
It is aimed
to make the World Wide Web faster, safer, and more open. There are two types of applications built on Elementh.
The first category is a financial application that gives users a good opportunity to manage and participate in contracts using cash, including buying and selling products and content online and offline, as well as tokens available in Elementh software.
The second category is non-financial applications, such as identifying counterfeit goods or counterfeit goods in the supply chain, and others. Elementh Blockchain has its own built-in currency, elementh (EEE), which is used for all operations inside Elementh Blockchain,
for example, payment of transaction fees.
Tokens are checked as EEE and they follow the default token ERC20. The primary token sale of the Elementh platform will start on April 1, 2018 at 00:00 UTC and will expire on April 30, 2018 at 23:59
UTC. 1 EEE will be equivalent to 0.0002 ETH. During ICO every token sale on the first day will attract 30% bonus Token, while day 2 will attract 15% bonus Token.
The only currency to be received during the token sale is ET. One of the roadmaps of the platform is the launch of alpha Elementh Blockchain version in June 2018.
ROADMAP
FOR MORE INFORMATION
Website: https://elementh.io/
Whitepaper: https://github.com/ElementhFoundation/Documentation/blob/master/ElementhWhitepaperEN.md
Facebook: https://www.facebook.com/Elementh-1371154296341075/
Twitter: https://twitter.com/Ahooleeman
Telegram: https://t.me/elementh_community
My bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1140838
What about Blockchain?
Elementh will achieve it by creating Blockchain with the Turing-complete built-in programming language, enabling everyone to write smart contracts and decentralized apps, enabling the use of integrated product cards, e-commerce transactions and proprietary transfers. Elementh will use Blockchain technology to manage the presence and list of goods and to ensure that both users and sellers will work together.
Customers will be able to pay using smart contracts and can easily return the money if the product never arrives (because Blockchain can track the product and verify if the product is shipped or not).
Elementh has a goods system, which can also be used in a large number of applications, such as tracking the movement of certain goods from its creation to the current owner, tracing the goods and detecting the counterfeit goods.
The idea of taking basic blockchain technology and applying it to other concepts also has a long history. In 2005, Nick Szabo proposed a concept of proprietary rights protection with owner authorization, which explains how "new advancements in replicated database technology" would enable the use of block-based systems to store a registry of someone who owns multiple lands, creating a complex structure that includes concepts such as manor, unprofitable ownership and land tax. Unfortunately, at that time no database system was replicated effectively, so the protocol was not actually implemented in practice. However, after 2009, once the Bitcoin decentralization consensus was developed, a number of alternative applications emerged quickly.
The lack of Bitcoin smart contracts, firstly, the absence of the Turing-complete programming language, led to the emergence of Etereum blockers, a special blockchain that made it possible to write smart Turing-complete contracts. Ethereum plans to switch to the PoS protocol in the future, but is currently still working on the PoW protocol, which affects the speed and cost of transactions on the system. A promising alternative would be the EOS block, which is currently being developed. It provides the ability to write intelligent contracts, work on dPoS protocols and facilitate the creation of decentralized DApps applications based on its own blockchain.
Elementh's goal is to create alternative protocols for decentralized application development used by e-commerce, provide the standard quality nomenclature, guarantee the ownership of certain products and the ability to create smart contracts specifically for e-commerce. Elementh will achieve it by creating blockchain with the Turing-complete built-in programming language, enabling everyone to write smart contracts and decentralized apps, enabling the use of integrated product cards, e-commerce transactions and ownership transfers.
Nomenclature of Unified Goods
Every supplier / distributor / seller in the world has his own data format for the goods, and more importantly, his own nomenclature. Their numbers are huge and growing every day. For example, let's look at search results in google.shopping for "iphone 7 256gb red":
As you can see, each store has a different name for the product, while search results also bring other iPhone models, followed by iPhone 7 256gb other colors and so on. The obvious solution to this problem is the creation of a unified nomenclature of goods that enables users to view bids on products of interest to one card of goods and stores to select the supplier that is most beneficial to them.
One of the main features of Elementh is the availability of a uniform nomenclature. To ensure that the item card is as accurate and accurate as possible, and to reduce the chances of making a duplicate card, the cost of making and using the card will be different. To create merchandise cards, participants must pay, for example 1 EEE (the price will be determined by choosing a delegate).
When the owner adds items to the system, he is offered to use an existing card or create a new one. The use of existing cards costs 100 times less than the new ones (for example, 0.01 EEE). The cardholder receives a gift for each owner of the goods using his card, and also to make transactions using this card. Each participant in the system can complete the information in the existing card, and the cardholder may accept or reject the proposed changes.
DPOS protocol
According to the concept of decentralization of autonomous DAC companies, decentralization means that each shareholder has an effect that is proportional to the number of shares and that the decision taken by selecting 51% of shareholders is irreversible and compulsory. The challenge is how to reach 51% of the approval threshold in a timely and efficient manner.
To achieve this goal, each shareholder may delegate his right to vote to the delegate. 100 delegates with the largest number of votes delegated generate blocks according to a specific schedule. Each delegate is allocated a time frame for block production. If he does not produce a single block, then their turn is skipped, and the next delegate produces one block according to the list. All delegates receive a payment of 10% of the average size of the transaction commission. If the middle block contains 100 shares cost, the delegate will receive 1 share as payment.
There is the possibility of delay in the network could lead to the fact that some delegates can not generate their blocks at the right time, and this will lead to a chain split block. However, in practice this is not possible, because a delegate can establish a direct relationship with another delegate before and follow it in the chain. With this model, new blocks can be generated every 10-30 seconds and under normal network conditions, block split blocks are unlikely or can be fixed within minutes.
ICO
Elementh blockchain has its own built-in currency, elementh (EEE), which is used for all operations within the Element block, for example, payment of transaction costs.
Token and ICO information: EEE, ERC-20 standard
Total supply: 303 000 000 EEE
Token distribution:
217 500 000 (71.78%) EEE - purchasers
45 000 000 (14.85%) EEE - team
40 500 000 (13.37%) EEE - partners and advisors
Private Pre-Sale
Private Pre-Sale start date: 15 January 2018 00:00 UTC
Private Pre-Sale end date: 31 January 2018 23:59 UTC
Private Pre-Sale soft cap: -
Private Pre-Sale hard cap: 1 500 ETH
Private Pre-Sale price: 1 EEE = 0.0001 ETH
Private Pre-Sale bonuses scheme: 50% Tokens
Pre-ICO
Pre-ICO start date: 1 February 2018 00:00 UTC
Pre-ICO end date: 14 February 2018 23:59 UTC
Pre-ICO soft cap: -
Pre-ICO hard cap: 1 500 ETH minus received in Private Pre-Sale stage
Pre-ICO price: 1 EEE = 0.0001 ETH
Pre-ICO bonus scheme: 1st day: 30% Tokens, 2nd day: 15% Tokens
ICO
ICO start date: 1 March 2018 00:00 UTC
ICO end date: 31 March 2018 23:59 UTC
ICO soft cap: 10 000 ETH
ICO hard cap: 30 000 ETH
ICO price: 1 EEE = 0.0002 ETH
ICO bonus scheme: 1st day: 30% Tokens, 2nd day: 15% Tokens
System Goods
Unlike the token system, the goods system also provides the ability to extract certain products at a particular address, which shows all possible item data (such as name, manufacturer, barcode, etc.). And if an identical item already exists in Blockchain, the publisher will receive a message about it, and he will have the opportunity to show how many items he wants to release. The items in the system are in one copy and if the goods with the same serial number are added to the system,
any dApp can notify buyers that the origin of the goods is unknown. If the ownership chain is from the manufacturer, the authenticity of the goods will be made throughout the network.
Account is one of the basic objects in Elementh; This is used as the identity of network participants. Each account has:
EEE internal currency account balance;
information on ownership of goods To store goods data, such as specifications, photos, EAN codes, serial numbers, and others, Elementh uses the IPFS protocol. IPFS (the Inter Planetary File System) is a hypermedia communication protocol addressable, peer-to-peer. IPFS lets you create a fully distributed app.
It is aimed
to make the World Wide Web faster, safer, and more open. There are two types of applications built on Elementh.
The first category is a financial application that gives users a good opportunity to manage and participate in contracts using cash, including buying and selling products and content online and offline, as well as tokens available in Elementh software.
The second category is non-financial applications, such as identifying counterfeit goods or counterfeit goods in the supply chain, and others. Elementh Blockchain has its own built-in currency, elementh (EEE), which is used for all operations inside Elementh Blockchain,
for example, payment of transaction fees.
Tokens are checked as EEE and they follow the default token ERC20. The primary token sale of the Elementh platform will start on April 1, 2018 at 00:00 UTC and will expire on April 30, 2018 at 23:59
UTC. 1 EEE will be equivalent to 0.0002 ETH. During ICO every token sale on the first day will attract 30% bonus Token, while day 2 will attract 15% bonus Token.
The only currency to be received during the token sale is ET. One of the roadmaps of the platform is the launch of alpha Elementh Blockchain version in June 2018.
ROADMAP
FOR MORE INFORMATION
Website: https://elementh.io/
Whitepaper: https://github.com/ElementhFoundation/Documentation/blob/master/ElementhWhitepaperEN.md
Facebook: https://www.facebook.com/Elementh-1371154296341075/
Twitter: https://twitter.com/Ahooleeman
Telegram: https://t.me/elementh_community
My bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1140838
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