The Einsteinium Foundation was registered in spring 2014, the cryptocurrency is a development of the fund. Management considered that this method of encouraging scientists was much more convenient than the traditional scheme of collecting funding. As a non-profit organization the fund was registered on April 7 (registration completed in Montreal), NGOs rated room 882658-4. The Einsteinium cryptocurrency is EMC2.
Projects worthy of funding are selected by the token holders themselves. There is already a successful experience of encouraging researchers. In 2014, soon after the creation of the Einsteinium cryptocurrency, Walter MoE (Yale University) received funding in the amount of about $1000 in EMC2 tokens, at that time this amount of tokens was equal to about 0.5 million EMC2.
The team is international, every member has experience in IT and investment. The management functions are assigned to:
- Jonathan Lauziere;
- Malden Trifunovic;
- Ryan Wright;
- Erick Calder;
- Vladan Bozilovic.
The reward per block will decrease gradually, if for the first extracted 72000 blocks the miners get 1024 token ЕМС2, then the last (i.e. in the range 5256001-26280000) remuneration will fall already to one coin per block. 2% of the remuneration for the block goes to the fund, which is then spent on financing promising scientific developments. Einsteinium mining is divided into eras, each lasts 25 days. During the era, 36,000 blocks are mined, and at the end of each community chooses a project / projects that receive funding. To increase the interest of miners developers constantly implemented technology wormhole. Randomly for each era 180 units are allocated, the remuneration of which is 2970 coins. After 730 eras miners will produce 299 million tokens (actually 299792458 ЕМС2). This is the maximum number of EMC2 tokens that can be reached. At the moment, the Einsteinum mining is possible at the pools:
- Chainworks Industries Pool.
Another option is to buy EMC2 on crypto exchanges. At the moment, it is traded on Poloniex, Bittrex, Cryptopia. There were periods when work with the tokens EMC2 was frozen for a month, but this happened for technical reasons, not because of the unreliability of the cryptocurrency.