More about foundation

 

Background
 

The defining characteristic of Einsteinium is its ongoing commitment to research and charitable missions. Einsteinium the coin is connected to the Einsteinium Foundation.


Einsteinium coin is a Bitcoin-like currency with a philanthropic objective of funding scientific research, cutting edge IT and crypto currency projects. Our community members vote on which valuable projects the funds will 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 are no restrictions on which projects are eligible but they must have science involved working to push our understanding forward, and strive to build us a better, safer and more stable future.


"To reach a broader audience than just the mining community, it is vital that Einsteinium is openly traded on exchanges and used for purchasing goods and services to sustain research," the foundation writes. "Einsteinium should be easily available and accessible to as many people as possible to grow awareness and cultivate opportunities."

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. As 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.

Similar to Bitcoin, Einsteinium is a distributed peer-2-peer digital currency released without any premium. 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.

Einsteinium coin uses a proof of work script algorithm that 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, donations, and marketing costs.