Elementh – Blockchain Designed for E-Commerce
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What is Elementh
Elementh is a blockchain designed for e-commerce. This is a list of “goods ownership” that can write special smart contracts and quickly create discrete and centralized applications using naming standards.
The originality of the product
The item in the system is a copy. If an item with the same serial number is added to the system, each dApp can inform the buyer that the item’s origin is unknown. If the ownership chain comes from the manufacturer, the authenticity of the goods will be completed through the network.
One of the key features of Elementh is the availability of unified naming. To ensure that the project card is as accurate and accurate as possible, and to reduce the chances of making a copy card, the cost of making and using the card will vary. In order to create a merchandise card, the participant must pay, for example, 1 EEE (the price will be determined by selecting a representative). When the owner adds a project to the system, he can use the existing card or create a new one. The cost of existing cards is 100 times lower than that of new cards (eg 0.01 EEE). The cardholder uses his business card to receive gifts for each owner and use the card for transactions. Each participant in the system can complete the information in the existing card.
Transactions in the blockchain must be secure, clear and irreversible, and completed as quickly as possible to promote system reliability and decentralization. In practice, difficulties are encountered in two different aspects of this process: selecting a unique node to make a block and making the recording immutable.
In general, there are two types of applications built on Elementh. The first category is a financial application that provides users with a good opportunity to manage and participate in cash-using contracts, including buying and selling products and content online and offline, as well as tokens provided in Elementh software. The second category is non-financial applications, such as identifying counterfeit/counterfeit goods in the supply chain.
Based on Elementh’s decentralized market. Based on the Elementh blockchain, each market will allow sellers to use existing merchandise cards without creating new merchandise. Product ownership data will allow you to exclude counterfeit products sold through the market. The integrated merchandise card allows you to easily find the lowest price of a product. At the same time, payment using cryptocurrency becomes possible.
- Track the movement of goods. Chain manufacturers stored in Elementh Block – Distributors – Vendors – Full buyers will be able to find suppliers for any quantity of product until ordering goods directly from the manufacturer. We see it as the future of e-commerce.
- Search for items with a geographic location. With the seller information on Elementh Block, you can find the most convenient place to buy any product.
- The ability of decentralized messaging to send messages allows you to contact the participants directly. This will allow the establishment of trading systems, tendering, access to personal purchase conditions, etc.
- The store designer has all the data needed to create the store, and the system allows you to create a separate, decentralized display for each supplier in the system.
- Falsely searching data for all chained participants will help track the appearance of counterfeit products during the transfer of goods ownership.
- The Bank scores the data obtained from each participant system for all transactions will immediately realize the seller’s valuation, allowing the banking institution to establish a credit system and overdraft.
- Service providers can use different vertical blockchain elements, such as hotels or airlines to provide tickets, coupons, or vouchers to store information and track ownership.
Elementh’s goal is to create alternative protocols for decentralized application development used by e-commerce, provide standard quality nomenclature, guarantee the ownership of certain products, and develop e-commerce-specific smart contracts. Elementh will implement it by creating a blockchain using the Turing-complete built-in programming language, enabling people to write smart contracts and decentralized applications, allowing the use of integrated product cards, e-commerce transactions, and ownership transfer.
Each time the unit is created, the blockchain of Elementh software will be used to obtain new blocks from the block manufacturer. Elementh software is configured to ensure that block makers have limited payments, so the number of tokens will not increase by more than 5% each year.
The token system can be used for a large number of applications. The token system is easy to implement in Elementh blocks. To better understand the token system, you can imagine a database with only one operation: fetch unit X from A and move to B under the following conditions: 1) Before the transaction is completed, A has at least a unit X. 2) Trade Confirmed by A. What needs to be done to implement this system is to use the above logic to apply smart contracts.
The Elementh blockchain has its own built-in currency elementh (EEE) for all operations within the Element block, such as payment transaction costs.
- Token and ICO information: EEE, ERC-20 standard
- Total supply: 303 000 000 EEE
- 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 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 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 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
To know the latest information about Elementh project you can visit the link below:
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
ETH : 0xf684c669653b6cd2b606ecdfc69b69dff7935b2c