Ercoin is a cryptocurrency which aims to be simple, fast, efficient and fairly distributed. Written in Erlang using Tendermint, it is released under Apache License 2.0.
Initial Burn Offering has been announced.
For source codes, issue trackers and technical specification, see the Ercoin’s profile on GitLab.
Syndication feeds: news, activity in the GitLab group, activity in the main Ercoin repository, commits to the main Ercoin repository. There are also feeds of other repositories.
Efficient and eco-friendly
Security of the network is provided using proof of stake, treating locked coins as a scarce resource instead of energy expended. Thanks to that, the network will operate much cheaper and with much lower carbon emission than proof of work cryptocurrencies.
Every transfer transaction will be able to contain a message of size up to 255 bytes. Thanks to that, you will be able to easily track payment-related data. If transaction-related data is bigger, you can synchronize it off-chain and put its checksum in the transaction message as a proof.
Flexible block time
If there are no transactions, blocks are created much rarer than when transactions are present. This reduces blockchain size without impacting confirmation time.
No chain forks
Once your transaction is included in a block, you can rest assured that it will not be orphaned.
Expirable accounts instead of unspent transaction outputs
Similarly as in banking system, money is assigned to accounts and, contrary to Bitcoin, is not split into unspent transaction outputs.
No entity will be privileged during Ercoin’s initial distribution. There will be no premine and no ICO. Initial amount of coins is planned to be distributed to addresses proportionally to the associated amounts of BlackCoin burnt in a specific manner in a specific time window.
Accounts managed by multiple keys in arbitrary combinations
You will be able to create accounts managed by singular keys, but also accounts managed by arbitrary combinations of multiple keys. For example, it will be possible to create a company account from which money can be spent either by its chairman or by two vice-chairmans acting together.
Flexible economic model
Fee amounts will be decided by consensus of validators, which will be able to adjust their choices based on external factors like Ercoin price and hardware price.