It seems as now-in-days, everybody is creating their own cryptocurrency. From high school students, to esteemed tech experts. Most of them creating quite useless coins that just add to the number of crypto scams. Furthermore, the co-founder of Uber (Garrett Camp) has decided to launch his own cryptocurrency. Posing the question of how he will use his past with uber, to create a currency for us all to use.
This will not be called Uber coin though, inlight that he is not doing this with Uber, but separately. This coin will be called 'Eco'! Pretty cool name if you ask me. His aim is to create a mass adopted world-wide coin that everybody uses instead of like USD, or the Euro. With a massive supply of 1 trillion coins, it will be interesting to see where the market cap goes. Even bitcoin itself has a supply of 21 million coins, creating a very vertical difference. Get this though, to the first billion people that sign up for the currency, they will be given 50% of the supply. Then 20% will be dispersed to the major universities that run their nodes for them. Giving the additional 10% to advisors, 10% to their partners, and last 10% to their so-called Eco foundation.
They also have a decent amount of funding of 10 million dollars from investors into their foundation. I really hope that with that kind of money, they are able to make a halfway decent coin. One of the most shocking things though about this project, is that there will be no ICO for it. Meaning they cannot raise any money through the hands of a regular investor. From what I understand, this is just to avoid any barriers or problems that ICO's have been creating under the law.
What different?
As I mentioned earlier about having specific universities run their nodes, they will only be using verified nodes. Preventing such issues like the 51% attack, because no anonymous person can confirm transactions. The large supply is also super different, and will allow the coin to be closer in price to regular currencies. Lastly, they have the goal of creating an eco-friendly currency (hence their name Eco), and will not be using electricity to mine their coin. This has no become one of my favorite crypto projects on the internet now, and I will make sure to update you guys! With that being said, see you in the next post steemians!
🔴Thank you for reading my post! I hope you guys enjoyed, and I'll see you in the next post! Feel free to ask questions or comment/upvote! 🔴
- Crypto DJ
It could be nice, I'm not really much of a uber guy though
Ya just interesting to see what he is doing!
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