Elementh is a blockchain for listings of possessions with the power to write smart special contracts and the use of nomenclature standards to make decentralized and centralized applications available for Elementh has absorbed the best achievement one year later in the blockchain, which has the goal of solving modern world problems.
Features of ELEMENTH
One of the main features of Elementh is the availability of uniform nomenclature. To ensure that the item card is as accurate and accurate as possible, and to reduce the chances of making a duplicate card, the cost of making and using the card will be different. To make merchandise cards, members must pay, for example 1 EEE (the price will be determined by selecting the delegate). When an owner adds items to the system, he is accessible to use an existing card or make a new one. The use of existing cards costs 100 times less than the new one (e.g., 0.01 EEE). The cardholder receives a gift for each owner of goods using his business card, and also transacts using this card. Each contributor in the system can complete the data in the existing card.
Blockchain
Transactions in chain blocks must be secure, unambiguous and irreversible, and done as quickly as possible to facilitate system reliability and decentralization. In practice, difficulties arise in two different aspects of this process: selecting a unique node for block production and making the recording unalterable.
Application
In general, there are two types of applications built on Elementh. The first category is a financial application that gives users a good opportunity to manage and participate in contracts using cash, including buying and selling products and content online and offline, as well as tokens available in Elementh software. The second category is non-financial applications, such as identifying counterfeit / counterfeit goods in the supply chain, etc.
A decentralized market based on Elementh. Based on the Elementh blockchain, each market will allow sellers to use existing goods cards without creating new items. Data on product ownership will allow you to exclude counterfeit products sold through the market. Integrated merchandise cards will enable you to find the lowest price for the product easily. At the same time, it becomes possible to pay using crypto currency.
Track the movement of goods. Chain manufacturers - distributors - sellers - complete buyers, stored in the Elementh block, will make it possible to find suppliers for each product volume, until order goods directly from the manufacturer. We see it as the future of e-commerce.
Search for items with geolocation. Seller information available on Elementh Block lets you find the most convenient purchasing place for any item.
Decentralized message delivery The ability to send messages allows you to contact participants directly in transactions. This will allow setting up exchange systems, bidding, getting individual purchase conditions and so on.
The store designer Having all the data needed to create a store, this system allows you to create an individual decentralized display for each vendor in the system.
False search Data of all chain participants will make it possible to track the appearance of counterfeit products at the stage of transfer of ownership of the goods.
Banking Score Access to data on all transactions from each participant system will enable the seller's valuation instantly, allowing for establishing credit systems and overdrafts by banking institutions.
Different vertical Blockchain elements may be used by service providers, such as hotels or airlines with ticket coupons, coupons or vouchers to store information and track ownership.
Protocols DPOS
According to the concept of decentralization of autonomous DAC companies, decentralization means that each shareholder has an effect that is proportional to the number of shares and that the decision taken by selecting 51% of shareholders is irreversible and compulsory. The challenge is how to reach 51% of the approval threshold in a timely and efficient manner.
To achieve this goal, each shareholder may delegate his right to vote to the delegate. 100 delegates with the largest number of votes delegated generate blocks according to a specific schedule. Each delegate is allocated a time frame for block production. If he does not produce a single block, then their turn is skipped, and the next delegate produces one block according to the list. All delegates receive a payment of 10% of the average size of the transaction commission. If the middle block contains 100 shares cost, the delegate will receive 1 share as payment.
There is the possibility of delay in the network could lead to the fact that some delegates can not generate their blocks at the right time, and this will lead to a chain split block. However, in practice this is not possible, because a delegate can establish a direct relationship with another delegate before and follow it in the chain. With this model, new blocks can be generated every 10-30 seconds and under normal network conditions, the block chain split is unlikely or can be fixed within minutes.
Mission
Elementh's goal is to create alternative protocols for decentralized application development used by e-commerce, provide the standard quality nomenclature, guarantee the ownership of certain products and the ability to make smart contracts specific to e-commerce. Elementh will achieve it by creating blockchain with the Turing-complete built-in programming language, enabling one to write smart contracts and decentralized apps, allowing the use of integrated product cards, e-commerce transactions and proprietary transfers.
Reward for Blocks
Blockchains that will use Elementh software will be provided with new tokens from the block manufacturer each time the unit is created. Elementh software can be configured in such a way as to ensure that block manufacturer payments are limited so that the number of annual increases in the number of tokens does not exceed 5%.
Token System
The token system can be used in a large number of applications. Token system is easy to implement in Elementh block. In order to better understand the token system, you can imagine a database with only one operation: take unit X from A and transfer to B, under the following conditions, 1) A has at least unit X before the transaction is made. and 2) the transaction is confirmed by A. What needs to be done in implementing this system is the application of smart contracts with the above logic.
ICO
Market
In 2016, global retail e-commerce sales reached $ 1.915 trillion. They are expected to increase to $ 4.058 trillion.
The biggest market in the world is Amazon. Revenue exceeds $ 125 billion by 2016.
The largest holding company in China is Alibaba Group.
Elementh Blockchain can be used by the world's online markets and stores for their nomenclature standards and goods systems
Roadmap
2012 - Establishment of MIIIX company
2012 - Investment from RSV Business Partners and business people
2016 - In the MIIIX database there are 1000 stores from various industries, clients from small shops to the largest portals in e-commerce (Sberbank AST),70 million SKUs in 30,000 product categories,
2017 – Hope to move to blockchain technology with outline of opensource project Elementh
01/2018 - Private Pre-SALE (15.01 - 31.01)
Whitelist only; min. 10ETH or 1BTC; max. 100 buyers;
02/2018 - Pre-ICO (01.02 - 14.02)
min. 1ETH or 0.1BTC; max. 1000 buyers; 1EEE = 0.0001ETH; BONUS white list: Day one: 30%, Day 2: 15%
03/2018 - ICO (01.03 - 31.03)
1EEE = 0.0002ETH; BONUS white list: Day one: 30%, Day 2: 15%
06/2018 - Alpha-Elementh version of blockchain
09/2018 - TestNet blockchain element
12/2018 - Launch of Elementh blockade
03/2019 - Launch of the first DAPP
For more information please visit the Elementh Website and Social Media below:
Website: https://elementh.io/
White paper: https://github.com/ElementhFoundation/Documentation/blob/master/ElementhWhitepaperNL.md
Facebook: https://www.facebook.com/Elementh-1371154296341075/
Twitter : https://twitter.com/Ahoo
Author : pathi87
https://bitcointalk.org/index.php?action=profile;u=1168550
