No doubt about this, that this project is gonna be awesome and amazing one, but I have got a question; what distinguishes etharinc from others?
Being an Ethereum fork, we can do everything that ethereum does 2.5x times faster.
However, we forked ethereum to build eInc as a special purpose blockchain to create and manage DAOs.
Here's how eInc works:
#1 use case: To build trusted, resilient and democratic virtual organizations
eInc removes the legal, financial and operational complications of setting up an organization.
- Reserve a name and quickly register your blockchain based DAO as an eInc.
- The day to day decisions of the organization are made through Proposals.
- Proposals can be used to create roles, add members, assign roles and associate grade to build a robust organizational structure that ensures key people can instantly execute certain actions.
- Issue and assign stock with different vesting schedules and voting power of the shares to the team. This helps distribute the ownership and bring different stakeholders into an organization.
- Easily pay salaries to employees or make payments to third party contractors based on accepted proposals.
- ETI (EtherInc) coins are used to power the eInc DAO ecosystem on the eInc blockchain.
- ETI can be used for payments, external investments, and finally building the assets within the organization.
# 2 use case: To offer a new standard of conducting a scam proof trustless crowdsale
- A reserved einc will be able to raise funds by passing a proposal for ICO and issue of a tradable token. Using einc‘s built-in tokensale smart contract will ensure that tokensales is scam-proof, since the release of organization fund raised in the tokensale will be tied to the resolutions and will require voting from investors.
- ICOs have a lot of potential as fundraising mechanism, but there is an increasing need for governance to protect token buyers from scams or organizations that aren’t executing correctly their roadmap or aren’t managing well the funds raised.
- In eInc, the funds raised in an ICO will be protected are tied to the proposals. If ICO supporters disagree with steps that an organization is taking or the way they spend the capital raised, they can submit a proposal and put it to vote to withdraw the remaining funds to ICO buyers in the same proportion as they were raised.
#3 use case: Securing elections with blockchain where votes are secure, transparent and impossible to forge.
- Members of a democracy are allowed to vote democratically on budget, implementation, and ideas from the community.
- Members create proposals to define how certain actions are decided and triggered and put them to vote.
- Members must reach a consensus based on the democracy’s Quorum voting percentage. They may be of different opinions, but ultimately have to agree on a consensus to determine the state of the blockchain.
- Proposals can be used to create roles, add members, assign roles and associate grade to build a robust governance structure that ensures key people can instantly execute certain actions in a democracy.
- Autonomy is implemented via eInc Blockchain and its mechanism with no central administrative body.
- Source code is publicly available on GitHub
- By capturing all aspects and processes on the blockchain, transparency is ensured and manipulation is made impossible, at least in theory.
WHAT DIFFERENTIATES US FROM ETHEREUM:
We decided to take a different path than Ethereum by:
- reducing block time from 15s to 6s
- increasing network transactions per sec by 2.5x
- increasing transaction confirmation speed by 2.5x
- increasing miner reward by 2.5x
- removing uncle reward
- implementing finite supply for mineable coins
This makes the eInc blockchain faster than Ethereum and allows for better scaling while preserving decentralization. einc was created as a fork of Ethereum blockchain with replay protection and hence, has all the capabilities of the Ethereum blockchain with some of our added enhancements.
Unlike Ethereum, the GAS prices aren’t as high on the eInc blockchain and hence, dApps can run inexpensively.
What we've already built:
Checkout the eInc project here:
https://einc.io
