Elementh – Blockchain Designed For The E-commerce Sector

ELEMENTH – The idea to take the basic blockchain technology and apply it to another concept also has a long history. In 2005, Nick Szabo proposed a concept of the protection of the rights of ownership with the authorization of the owner, who explains how “new progress in the technology database is replicated ” would allow the use of block-based system for Save the registry of someone who has some land, creating a complex Structure that includes concepts like manor, ownership of which is not profitable and the estate tax. Unfortunately, at that point no system database that most effectively replicated, so the Protocol is not actually implemented in practice. However, after 2009, so consensus decentralized Bitcoin developed, a number of alternative applications emerge quickly.

A shortage of smart contracts Bitcoin, first of all, the absence of a Turing-complete programming language, leading to the emergence of the Etereum block, a special blockchain which allows to write smart contract is Turing-complete. Ethereum planning to switch to the Protocol Post in the future, but currently still working on PoW Protocol, affecting the speed and cost of transactions in the system. A promising alternative would be to block the EOS, which is currently being developed. This provides the ability to write smart contracts, work on a protocol of dPoS and facilitate the creation of various applications based on decentralized DApps blockchain own.

The goal of Elementh is to create an alternative Protocol for decentralized application development used by e-commerce, providing nomenclature standard quality, guarantee the ownership of certain products and the ability to make smart contracts specifically for e-commerce. Elementh will achieve this by creating a blockchain with a Turing-complete programming language built-in, allows anyone to write applications and intelligent decentralized contracts, allows the use of integrated products, card transactions e-commerce and the transfer of ownership.

The System Of Goods
Along with the token system, Elementh system, which can also be used in a large number of applications, such as tracking the movement of certain goods from the creation to the current owners of the original items, track and detect counterfeit goods. . Unlike the system token, the system also provides the ability to stuff “issuing ” a specific product on a specific address, which shows all the data items that are possible (such as name, manufacturer, barcode, etc.). And if an identical item already exists in the blockchain, the Publisher will receive a message about it, and he’ll have a chance to show how the goods that he wanted to be “”.

If the item has a serial number, you can determine when the transfer operation is performed. To provide protection against data forging, only a hash of the specified serial number in the system, therefore the only people who know the initial amount that has the ability to perform a valid transaction. In the absence of serial numbers at the moment of goods “issuing ” it generated, the system randomly and the holder can use it to identify certain items by printing the QR code on the packaging, RFID tags or write it in the other way is easy.
Unified Nomenclature Of Goods
Each supplier/distributor/seller in the world has its own data format for the goods, and more importantly, nomenclature own. Their number is huge and growing daily. For example, let’s look at the search results on google. shopping for “iphone 7 256 GB red “:

As you can see, each store has different names for these products, while the search results also presents other iPhone model, followed by the iPhone 7 256 GB of other colors and so on. The obvious solution to this problem is the creation of an integrated nomenclature item that lets users view deals on products of interest on one card and shop merchandise to select suppliers that are most beneficial to them.

One of the main feature of Elementh is the availability of a uniform nomenclature. To ensure that the goods are as accurate as card and as accurate as possible, and to reduce the possibility of making a duplicate card, the cost of manufacture and use of the card will be different. To make merchandise card, the participant shall pay, for example 1 EEE (price will be determined by choosing the delegates).

At the time the owner adds items into the system, he was offered to use the existing card, or create a new one. The use of an existing card price is 100 times smaller than on the creation of new ones (for example, 0.01 EEE). Cardholders receive a gift for every owner of goods that use the cards, and also to conduct transactions using this card. Each participant in the system can complete the information in the card, and the card holder can accept or reject the proposed changes.
Protocol Of DPOS
According to the concept of decentralized autonomous DAC company, decentralization means that every shareholder have the influence proportional to the number of its shares and that the decisions taken by choosing the 51% shareholder cannot be recovered and are required. The challenge is how to achieve 51% of threshold agreement in a timely and efficient manner.

To achieve this goal, every shareholder can delegate the right to give voice to the delegation. 100 delegates with the most number of votes capable of producing blocks in the schedule. Each delegate is allocated a time frame for the production block. If he does not produce a block, then their turn is skipped, and the next delegates produce a block appropriate list. All delegates receive a payment of 10% of the size of the average transaction commissions. If the central block contains the cost of 100 shares, the delegation will receive 1 shares as payment.

There is a possibility of delay in the network can lead to the fact that some delegations could not produce their block at the right time, and this will cause the break-up of the chain block. However, in practice this is unlikely to happen, because a delegate can establish direct contacts with other delegations prior to and following it in the chain. With this model, the new block to be produced every 10-30 seconds and in conditions of normal tissue, splits the chain block is not possible or be fixed in a few minutes.

ICO
Elementh blockchain memiliki mata uang built-in sendiri, elementh (EEE), yang digunakan untuk semua operasi di dalam blokir Elemen, misalnya, pembayaran biaya transaksi.
Token and ICO information: EEE, ERC-20 standard
Total supply: 303 000 000 EEE
Token distribution:
217 500 000 (71,78%) EEE – purchasers
45 000 000 (14,85%) EEE – team
40 500 000 (13,37%) EEE – partners and advisors
Private Pre-Sale
Private Pre-Sale start date: 15 January 2018 00:00 UTC
Private Pre-Sale end date: 31 January 2018 23:59 UTC
Private Pre-Sale soft cap: –
Private Pre-Sale hard cap: 1 500 ETH
Private Pre-Sale price: 1 EEE = 0.0001 ETH
Private Pre-Sale bonuses scheme: 50% Tokens

Pre-ICO
Pre-ICO start date: 1 February 2018 00:00 UTC
Pre-ICO end date: 14 February 2018 23:59 UTC
Pre-ICO soft cap: –
Pre-ICO hard cap: 1 500 ETH minus received in Private Pre-Sale stage
Pre-ICO price: 1 EEE = 0.0001 ETH
Pre-ICO bonus scheme: 1st day: 30% Tokens, 2nd day: 15% Tokens

ICO
ICO start date: 1 March 2018 00:00 UTC
ICO end date: 31 March 2018 23:59 UTC
ICO soft cap: 10 000 ETH
ICO hard cap: 30 000 ETH
ICO price: 1 EEE = 0.0002 ETH
ICO bonus scheme: 1st day: 30% Tokens, 2nd day: 15% Tokens

DETAIL IFORMATION :
Website : https://elementh.io
Whitepaper : https://github.com/ElementhFoundation/Documentation/blob/master/ElementhWhitepaperEN.md
ANN : https://bitcointalk.org/index.php?topic=2590603.0;all
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