Welcome everyone with our weekly Token Review column; today we are going to talk about eTukTuk, a new cryptocurrency that with the help of artificial intelligence and blockchain has the potential to drastically reduce co2 production.
Let's see how.
eTukTuk plans to create a blockchain-based charging network and provide a fleet of electric cars. Through the blockchain everything is monitored in real time and you have ususra of vehicles, consumption and routes used.
All of this is aided by artificial intelligence.
As with most of the latest generation of tokens, staking is possible, in this case we can only have it if you buy tokens on BNB's Smart Chain.
The procedures for obtaining presale tokens are much the same:
- Connect the wallet
- Check for purchase funds and balance of network operations
- Place them in staking to immediately begin creating an annuity (paid in tokens, of course).
Completing the project is a P2E application set in the streets of SriLanka, where the player, the owner of an electric eTukTuk vehicle, transports various customers to the required destinations. The goal of the game is to drive as fast as possible to get more rewards.
Let us now take a look at the road map with the various growth steps
It is clear from the whitepaper that the project is quite ambitious: through renewable sources, eTuk wants to create an independent network and give everyone the opportunity, and with competitive costs, to be able to recharge their electric vehicle while eliminating environmental impact.
By using renewable sources, in fact, CO2 emissions are reduced to 0!
This network, as mentioned just above will be one that follows global standards: thus, in addition to being able to recharge eTuk vehicles, other vehicles can also be supplied.
What is the reason for using blockchain?
The answer is very comprehensive and can be found in the Whitepaper:
Blockchain is being used in the eTukTuk ecosystem because of its advantages over traditional payment and technology systems. Specifically, it will be used to host the TUK token and smart contracts associated with token distribution, decentralized identity, and power staking (rewards/incentives). These uses take advantage of the benefits of blockchain:
Improved transparency
All transactions are stored on the blockchain in perpetuity and are visible to anyone. This adds an unprecedented level of accountability.Improved security
Transactions on the blockchain are immutable. No central authority controls the network or can retroactively change the financial ledger.
Transactions on the blockchain are "trustless," meaning that a transaction can take place with the certainty of completion without the need for escrow structures or intermediaries.True traceability
With increased transparency comes true traceability. All transactions can be traced back to the wallet of origin, which will help future-proof the ecosystem for future regulations. .Improved speed and efficiency
Without the need for centralized entities, costs that would normally be paid to them are saved. In addition, because transactions are peer-to-peer, they are often faster and more efficient than traditional fiat payment networks. This is especially true for cross-border payments that normally go through multiple intermediaries.The sharing economy
Participation mechanisms allow participants to share in the success of the ecosystem by earning rewards in return for supporting the shared network. With few or no barriers to entry other than owning and staking a token, a true sharing economy is created.Less friction (barriers to entry)
All it takes to participate in a blockchain is an Internet connection and a wallet (software that interprets the blockchain and provides cryptographic verification).
A decentralized identity gives users full control over their digital ID, allowing them to prove identity without relying on third-party entities to substantiate such claims.
I would say that from what we have seen so far it could be a good project, or at least the basis for doing things properly is all there, even tokenomics has been addressed in a rigorous way:
As is clear from the above diagram, every item has been considered, from pre-sale staking to power staking.
At the moment as project development we are in phase 3, it will be necessary to wait until 2024 for the conclusion of the Road Map and to have the project 100% functional with also the approval of all institutions.
As a project, seemingly hollow and instrumental, it has something worth exploring further, if only for staking and possible basket diversification.
In case you want to delve further, I leave a link to the whitepaper
https://etuktuk.io/assets/documents/whitepaper.pdf
That's all for today until the next installment!