Hello and welcome to this blog post about Eureka Coin ERK White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Eureka Coin ERK white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Eureka Coin (ERK).
I can ensue you that, you will be able to understand every bits and pieces related to Eureka Coin (ERK) after going through the Eureka Coin ERK white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
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Eureka Coin ERK White Paper
Eureka Coin ERK white paper will be going to provide you, all the information that is needed to get started with Eureka Coin (ERK), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Eureka Coin (ERK).
Proof of Stake algorithms promise significant advantages in achieving distributed consensus compared to Proof of Work. Combining Proof of Stake with other important requirements, such as the automation of cross-organizational collaboration with mobile wallets that support simple payment verification (SPV) techniques and others, will allow for broader industry adoption.
Moreover, having an existing user friendly infrastructure that allows digitalization and self-governing tokenized ecosystems is essential to achieve a global adoption. These self-governing ecosystems must have complete autonomy on top of the blockchain via the development of fully scalable sidechains.
Ethereum, the leading smart-contract platform of the first decade of blockchain technology’s existence, is facing scalability issues due to its computationally expensive Proof of Work algorithm & the necessity for nodes to download the entire blockchain which limits the utility of the Ethereum blockchain.
This white paper introduces the Eureka smart contract framework that aims for sociotechnical application suitability insuring long term scalability and reliability as well as interoperability with the other blockchains. The Eureka Blockchain is powered by Eureka Coin (ERK). The coins will be continuously bought back and burned using the net profits of the development company Polaris Universal until the total circulating supply of the coin is 10 Million ERK.
The purpose of this buying and burning process is to insure a decent level of price stability in the long term. 10% of the transaction fees will be continuously burned and this is an in-built feature of the Eureka blockchain. The open source decentralized platform supports the use of SPV solutions in addition to allowing for diverse implementations of fully autonomous sidechains.
The blockchain comes with a complete infrastructure that allows building, storing, and trading self-governing PoS-based tokens. Eureka is a state of the art blockchain built to be widely used for industry-cases applications.
White Paper Link: Eureka Coin ERK White Paper
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