The defining characteristic of Einsteinium is its purported charitable mission. Einsteinium the coin is connected to the Einsteinium foundation.
It is a Bitcoin-like currency with a philanthropic side goal of funding scientific research and cutting edge IT and Crypto projects. Let community members vote on which worthwhile scientific research projects the proceeds should be awarded too.
"Scientific research it is [sic] a long-term investment in our future, and the future of our planet," the foundation claims. "Funding around the world for the ‘big ideas’ has fallen dramatically in recent years.
there is no restriction on eligible projects other than that the "science involved is pushing our understanding forward and could build us a better, safer future.
"To reach a wider audience than just the mining community it is essential that Einsteinium is freely traded on the exchanges and used for purchasing goods and services," the foundation writes. "Einsteinium should be as available as possible to as many people as possible to enable that trading."
The Einsteinium Foundation (EMC2 ) is embarking on a truly ambitious project that will likely change how cryptocurrency (CC) is viewed outside of the CC universe.
The Einsteinium Foundation became an official Non-Profit Organization on April 7th, registered in Montreal with NPO corporation number 882658-4. Through being the first non-profit dedicated to scientific research to be registered in the world of cryptocurrency, the Einsteinium Foundation hopes to secure grants and build long lasting relationships with other NPOs worldwide – in order to support future ground breaking science projects of all kinds.
EMC2 automatically donates 2% of every block mined to the Foundation Fund to be used for donations. The mining of Einsteinium is divided into Epochs: each Epoch mines 36000 blocks of coins and is targeted to last approximately 25 days. Every 25 days, at the end of each Epoch, a new ground breaking scientific cause is selected to receive Einsteinium Foundation funding.
Like Bitcoin, Einsteinium is a distributed peer-2-peer digital currency released without any premine. EMC2 implements the primary innovation of Wormhole Mechanics. To reward long term miners each Wormhole Event occurs randomly during each epoch and is 180 blocks long; with a reward of 2970 EMC2 per block.
The EMC2 coin is released by the Einsteinium Foundation. The Einsteinium Foundation exists to raise money to help fund cutting edge scientific projects. They launched Einsteinium, March 1st, to help them realize their goal of funding cutting edge science.
Einsteiniumcoin uses a POW scrypt algorithm and will have a total of 299 million coins . 2.5% of each block will go to the Einsteinium Foundation with 2% to be given to science projects and .5% going towards faucets, give-aways. and marketing. Einsteinium had a good launch and there was no premine.