This year, cryptocurrencies are demonstrating their financial prowess as they rapidly increase in value. With a total market cap of more than $500 billion, this vast ecosystem is loaded with digital currencies that are more valuable and more usable than ever. What’s not considered on these charts is the creativity embedded in some of these coins.
Although it’s currently priced at just $0.92 USD, which doesn’t place it anywhere near the most valuable cryptocurrencies, Einsteinium deserves recognition for creativity.EMC2 began the year valued at just $0.000875 per coin – not even worth a tenth of one cent. As of Dec. 24, its value had increased to $0.92 per coin — a gain of more than 100,000%. The Einsteinium Foundation’s mission is to raise funds for scientific research.
First launched in 2014, Einsteinium is a unique cryptocurrency that combines the standard p2p ambitions with a philanthropic underpinning that strives to fund scientific research through its platform.
It uses a proof of work concept that is similar to Bitcoin, and, aside from the popularity difference, it operates in much the same way. In essence, Einsteinium is a combination of Bitcoin’s technological capability with the ethos of a charity.A New Fundraising Model Einsteinium runs on the Proof-Of-Work scrypt algorithm. The total amount coins that will be in circulation after the mining is 299 million coins (after 730 Epochs).
Einsteinium’s methodology is simple but is pretty compelling. Their coin, EMC2, is a tradeable digital currency that has soared in value this year. Throughout its first two years, EMC2 traded at a fraction of a cent. In other words, it was a functionally worthless currency.
However, the crypto boom of 2017 has extended to Einsteinium as well. In November, EMC2 began an unprecedented climb that ultimately led its value past $2.50, though with the recent crypto correction, it is now trading for around $0.92 USD.
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