What is E-Coin (ECN) Crypto Beginner’s Guide
The goal of E-coin is to provide a means through which financial transactions for Manufacturing, Human Resource, finance, and recruitment industries will be much better than current processes. The platform also hopes to eliminate the use of a middleman and the costs associated with them through the E-Coin X platform which it hopes to provide. By allowing businesses to deal with each other directly or businesses and end users, it aims to make transactions faster and safer. It will also use the E-Coin cryptocurrency in creating a B2C and B2B environment for peer-to-peer transactions.
To a lot of cryptocurrency enthusiasts, Bitcoin, as well as many other cryptocurrencies available on the market, are quite unique in the sense that they are different from fiat currencies. These differences include freedom from the weaknesses of fiat currency. The truth is there are lots of weaknesses which cryptocurrencies have such as:
- No privacy of transactions
- Unavailability of proper governance
- High volatility of prices
These weaknesses are sure to affect the sustainability, value, and use of various cryptocurrencies like Bitcoin.
The eCoin-eShares Cryptocurrency system or simply the eCoin system is a new system which will address these issues. The implementation of this process is known as the eoin Project. The cryptocurrency which the eCoin project hopes to create will possess the following qualities:
- Democratic governance
- Privacy of transactions
- Price stability
Other E-coin facts
E-coin has a centralized mode of operation with ECN as its trading symbol. It is an open source which uses a proof of stake consensus method. It was released in April 2017 with a total supply of 21,270,119 and no new tokens created.
Is E-coin a good investment?
If you visit the website of E-Coin, there are a few aspects that may appear quite unprofessional. This is not an indication that the coin is a scam or not. Another case may be the likelihood that it is a result of a management team which misguided in its implementation of the project.
This is all amidst claims that the team behind the coin have over 120 years combined experience.
It is also futile to try looking for the team behind the E-Coin. When you try looking up the names of the strategy advisor, manager, and blockchain consultant on LinkedIn, it doesn’t yield any positive result.
Finding individuals who go by the same name on the social network is quite easy but none of these individuals has worked on the E-Coin project or any technology that has to do with the blockchain. Although this discovery makes it quite a suspicious project, not everyone uses the LinkedIn platform.
E-Coin attracted a lot of people to its platform with the promises of providing a better and more sustainable cryptocurrency. So far, it really hasn’t made much of an impact. If you are one of those who invested in the project, it is advisable you find a way out while the prices are still favorable.