Centralized companies have remained in the past because of their inefficiency and because they are a favorable environment for corruption. The goal of EtherInc is to replace the traditional decentralized company. The process of creating organizations is artificially complicated by legal and financial delays.
There are countless unnecessary intermediaries on the market that can be removed from the financial chain without consequences. According to open sources, only a third of the startups created by DAO start working and making a profit. This is due to:
Inadequate financing;
lack of agreement between the creators, which can lead to conflict;
the need to comply with the requirements of legislation of all countries in which the participants of the start-up are located;
The need to conduct business officially and pay money to intermediaries, which will help to complete the necessary documentation;
High commission for international banking operations;
High prices for legal services;
The need to spend money on consultants, which help to establish the financial flow of documents.
The creators of startups have the opportunity to raise funds for the ICO, but the problem is again in the absence of trust. The boom ICO led to the fact that they are interested in scammers who are deceiving their depositors. As a result, investor confidence in crowdsourcing has declined.
The development team plans to solve all the problems faced by the creators of the DAO. People find it hard to trust each other when it comes to money, especially if colleagues and investors are in another country. The EtherInc platform is designed to solve the problem of trust with the help of blocking and smart contracts.
Platform principles
EtherInc is the platform for creating a decentralized organization and application for blocking. The Ethereum block, on which the creators developed the decentralized Ethereinc Application, has ceased to meet the requirements for transaction speed, fuel prices and scalability. As a result, it was decided to produce its own fork.
The work of the platform became possible due to the work of several software components eInc:
dApp is a smart contract with built-in protocols for managing an organization.
WorkFlow is a system for reaching a consensus on proposals. If you want to send tokens, for example, you need to create an offer, and the funds will be transferred after agreement on this issue with all participants.
Grades are voting systems, in which the higher the position in the company, the stronger the voice of the participant.
TProposal Types
in general, the developers have created 17 types of proposals, which are used to vote and add new members of the team.
Name Service (eIncNS) is a
system of names of organizations working in the WHOIS type.
Marketplace is a
market for decentralized applications designed to help project managers.
Key advantage
Using EtherInc helps to get rid of the main problems when creating a company. Below are the main advantages of the platform:
the ability to register the DAO quickly and without delay;
The speed of transactions is increased, which makes it possible to promptly pay salaries to employees and perform other calculations;
a system of proposals with which routine decisions are made, for example, appointing employees to positions;
the possibility of creating a business without borders and constraints-shareholders and team members can be in different countries, successfully working on a common goal;
The increase in the level of democracy in enterprises is achieved through a mechanism of consensus;
There is no need to spend money on intermediaries and auditors;
Creating decentralized applications on a platform is cheaper than Ethereum;
the ability to use the platform token for settlements, create new organizations, proposals, vote, launch ICO and dApps.
ICO Details and Roadmap
The developers plan to release 997.5 million ETI tokens, of which 450 million are planned to be sold at a price of $ 0.01 per unit. Soft cap is $ 1 million, Hard cap is $ 22 million. The pre-sale lasted a week, from June 7 to June 15. The main stage of sales began on June 25 and will last until July 25.
Those who have the Ethereum tokens in their purse at the time of the fork will receive platform tokens in a 1: 1 ratio. The distribution of tokens: 45% goes on sale, 15% goes to support the community, 10% to build a strategic partnership, 10% to support start-ups, 10% to future development, 10% to ETH holders.
Distribution of income: 40% - for development, 25% will be accepted by the team, 20% will be given a reserve, 10% will be spent on marketing 5% will be taken by advisers.
At the moment, the platform's source code is published in the public domain. The following components have already been developed and launched: Dapp, einc organization explorer, wallet, two APIs and nodes to them, organized mining, pre-sales.
Conclusion
The project will be of interest to fans of decentralized companies and applications. A strong team of developers has done a great job for six months and is able to complete it. The new Platform adds enhanced functionality to existing in Ethereum. In addition, it is much cheaper, at least for the time being. The project has positive feedback on ICO-resources, which will add positive emotions to investors and the desire to invest in the platform.
