ELH is definitely a long shot, in my opinion. But, I invested in it and I’m running a node. The rewards for running a staking node are fairly good. There are more nodes joining in every day though, so rewards are declining somewhat rapidly. Every 100,000 blocks, the requirement to qualify for staking rewards increases by 10,000 ELH. At the current rate, this forces stakers to buy more ELH in order to continue receiving rewards after each block height milestone of 100,000… but the staking rewards help supplement the required quantity of ELH that needs to be purchased.
This process should weed out the nodes, and the ELH rewards given to people with smaller quantities of ELH. Only the truly committed will continue to qualify for rewards as the block height increases in 100,000 increments. This is a good thing, but also a bad thing. It may centralize the project a bit, for a while, until the node reward requirement caps off at 100,000 ELH at block height 1,000,000. However, this gives the project time to develop while having less selling pressure, and more buying pressure as node holders accumulate more ELH to qualify for more rewards.
Overall, I am in touch with the developers of ELH, and feel that their marketing could be improved drastically. I believe that they are building a foundation before pushing the product. There is great potential for this project, because tokens and NFTs can be launched within it’s network. It is not a simple Bitcoin fork or something like that, it is an Ethereum fork with it’s own sophisticated network.
Nothing has been built on ELH yet, the goal is to simply increase buying pressure through the node reward system, but I would say that this system is much more similar to a masternode system than a staking system, because the coins never leave the user’s wallet, and are always under the user’s control, to be sent at the user’s discretion.
If anyone is interested in checking out the staking portal, it is very interesting so far. They have made several updates to it within the last several days, and it is looking quite good at this point.:
https://stake.elhereum.comThe website needs a major upgrade, but I feel that the team is prioritizing the staking portal first, because the staking function is currently the main thing that is preserving (and adding to) the value of the project. However, they have created a Telegram community chat, which I will include below, as well as (more recently) a subreddit group.
https://t.me/Elhereum_chathttps://www.reddit.com/r/elhereum/The announcements channel can be found below:
https://t.me/elh_elhereumFor more direct contact with the development team, you could contact them by email, but their email response rate is not very good (for now). However, they are quite busy improving the staking portal and website at the moment. I believe once their work slows down, they will be more responsive.
dev@elhereum.comWith all of this said, ELH is a complete gamble. It has tons of potential, but this potential rests on the community and the development team. I took a chance on ELH, and hope it will yield considerable fruit in the coming months as I accumulate more ELH and continue to run my staking node.
I have more comments about ELH, but I’ll save them for the future. This post is getting rather long.
