EtherChain-etchtoken(ETCH), the world's first proof-of-stake algorithm is now here.

1. Introduction
   The success of a well-planned project or concept is the solution of existing problems. Following the most appropriate lines of code and implementing a perfect algorithm can lead to successful results. The algorithms Proof-of-Stake (PoS) and Proof-of-Work (PoW) were developed with this in mind and are nowadays used in many different ways in the crypto world. Bitcoin, for example, is the first P2P digital currency to use the proof-of-work (PoW) algorithm.

Many people know that tokens that are based on the proof-of-stake algorithm are known as holder’s coins. In general, holders can earn more tokens by holding them for a certain period of time. EtherChain (ETCH) will use the proof-of-stake algorithm and implement it as an Ethereum token. Thus, EtherChain owners can generate revenue by holding ETCH for a certain period of time. Moreover, most lending /staking platforms have collected millions of dollars in funds since their introduction to Blockchain network. With that being said, our platform is designed with a new idea in mind. To put it simply, we are collecting nothing and putting our faith in the platform itself.

1. Concept:
   EtherChain is the world’s first proof-of-stake smart contract token on the Etherum platform. It is based on the ERC20 token standard and implements all common methods. As an Ethereum token, EtherChain first implements the proof-of-stake mechanism, which means that each holder can earn some additional tokens by holding the EtherChain for a period of at least six days, but each coin holder is given the option to extend their hold beyond the six day minimum Coin Age.

2. Market Overview:
   The global social media market is currently experiencing rapid growth. This trend is expected to continue, which is supported by such global trends as the development and penetration of new information technologies, economic growth in developing countries and the recent accessibility of social media. The growth of the Internet and the evolution of mobile devices have allowed hundreds of millions of people worldwide to share their photos, without leaving their home.

3. Why ETCH?
   At EtherChain, we believe the control of the token should be in the investor’s hands. Therefore, there is no ICO or funds collected. No need to deposit on a lending platform. Once the tokens are distributed, you will be able to stake them right from your wallet. You can also put them up for sale on Ether Delta by simply pasting the contract address in the search bar and create a sell order. Once the tokens are in your hands, you have full control to send them to whomever and wherever you want. They are not locked on a lending platform like most staking / lending tokens.

4. Smart Contract versus Lending
   With all the exit scams lately in the lending and staking platforms, it can be very nerve racking with investing into any of them. That is why we created this revolutionary platform that requires no sign-up, no deposit of funds, or deposit of tokens. All transactions are view-able on the Blockchain. All the staking is done right from your own Ether wallet.
   • No possible exit scam
   • No putting your funds in the hands of an anonymous owner
   • No depositing necessary
   • Sell your tokens on an external exchange

5. ETCH Stake Interest
   The max total supply of EtherChain tokens has been set to ten million, but we just created one million ETCH as the initial supply. We project that the max total supply will be reached in approximately ten years or potentially a little longer based on the set staker interest rate. Once the capacity of ten million tokens have been reached, then no more ETCH will be generated via PoS.

6. Staking (Earned Interest)
   ETCH holders are eligible to claim a staking reward if they are in possession of ETCH for at least six days after the initial period. ETCH holders have to initiate their stake within their Ether wallet in order for staking to begin. To initiate your ETCH, you must send yourself at least one ETCH token to communicate with the Smart Contract. The staking reward is proportional to the number of tokens in their wallet and the duration of the coin holding. This value is called the Coin Age, i.e. the number of coins multiplied by the holding time of the coin.
   However, once the staking reward has been taken, the investor’s earnings will then be reset to zero and they must wait another six days before being eligible for a new staking reward. With that being said, we have set the Coin Age to a maximum amount of 90 days to prevent a single large quantity of coins from dominating the Blockchain. This also means that the Coin Age never goes beyond the 90-day limit. All those in possession of ETCH tokens after the Coin Age max period (90-Days) will loose their stakings or earned interest because it will be reset to zero.

We estimate the staking rate for the first year at approximately 100% annually. For example, a person that is holding 100 ETCH tokens in their Ether wallet who decides to keep this coin for at least one year will receive a stake bonus of 100 ETCH within the first year. In the second year, the earning potential is still favourable because the reward is approximately 50% of their ETCH holdings and lastly, in the third year and every year thereafter, the stake bonus is approximately 10%.

https://etherchain.site
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