Elementh – a blockchain for e-commerce

Dear friends, today I will look over a project “Elementh”. But firstly let’s remember what is blockchain. Blockchain is a chain of data blocks including previous and recent transactional records confirmed by network of computers and encoded as cryptographic hash. In this way blockchain becomes a public ledger for any cryptocurrency transactions. Smart contracts are traceable and irreversible automatic agreements that facilitate and verify transaction and are executed without any third party. This blockchain system and smart-contracts are very comfortable so they make cryptocurrencies very popular. This blockchain system finds more and more applications. And Elementh project is intended to use it in e-commerce field.

What is Elementh

Elementh blockchain is a blockchain with a built-in Turing-complete programming language planned to register the goods ownership by using the nomenclature standards and issuing smart-contracts.

The work of Elementh system:

The system has two main elements:
  • Currency system that allows safe transfer of money
  • System of goods database which will allow order particular product to needed address. The indicated data (name, manufacturer, bar code) will allow detecting counterfeit goods.
    IPFS (the InterPlanetary File System) will be used to store all goods data including serial number, photo, description and EAN code (European Article Numbering) IPFS is a faster and safer alternative to HTTP, connecting all computers to a single file system and allowing you to create fully distributed applications.
    Each user has account with balance of internal currency (EEE) and information about goods ownership. The owners of internet shops will be able to use special Elementh application for seller which allows creating nomenclature of the goods. The ordering, buying and paying as well as tracking become fast and comfortable.
    The Elementh system management will be performed by shareholders in DPOS (Delegated Proof of Stake) protocols.

The benefits of Elementh system:

  • provides protection against data forging. Only the person who knows the initial number can validate transaction. As only the hash of serial number is recorded in the system. For products without serial number system can generate it randomly
  • possibility to use existing merchandize card instead of creating new ones
  • availability of a unified nomenclature of goods
  • safety
  • tracking ability
  • ability of searching goods by geolocation
  • scoring the sellers

The applications of Elementh:

  • Financial (buying and selling goods from other users)
  • Non-financial (identifying fake etc)

EEE tokens and ICO

Elementh token (EEE) is the inside currency of Elementh blockchain. It can be used for any operation and transaction inside the Elementh blockchain. (like ETH in Ethereum blockchain and EOS in EOS blockchain).
Ticker symbol: EEE
Token standard: ERC-20
Total supply: 303 000 000 EEE
Hard cap: 31,500 ETH
ICO start date: 1 April 2018
ICO end date: 30 April 2018
ICO soft cap: 10 000 ETH
ICO hard cap: 30 000 ETH
ICO price: 1 EEE = 0.0002 ETH or 1 ETH = 5000 EEE
ICO bonus scheme: 1st day: 30% Tokens, 2nd day: 15% Tokens
Payment method: ETH, BTC
Token distribution:
Purchasers: 217 500 000 (71,78%) EEE
Team: 45 000 000 (14,85%) EEE
Partners and advisors: 40 500 000 (13,37%) EEE

For more information, please visit links below :

WEBSITE · WHITEPAPER · TWITTER · TELEGRAM · ANN
Prepared by Stavri (Bitcointalk Profile) :
https://bitcointalk.org/index.php?action=profile;u=955201
ETH Wallet: 0xf263f99B27E37e97720b9DdaF525B565E18A89c2

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