Eauric is a cryptoactive that features three fundamental properties. Each unit of Eauric is supported by a troy ounce of 18-karat gold.
The company behind the platform believes that gold will rise in price as it has always happened historically, consequently, the price of Eauric backed by this precious metal will also go up with time. The gold that backs Eauric will be stored, guarded, and certified by the companies that specialize in these activities. It is planned to organize storage and custody by three different companies that will perform their duties in three countries in equal parts. The priority is given to countries with political stability.
The fundamental property of the asset is the transactional network for the creation of proprietary blockchain by Electrumchain on the basis of Bitcoin core. It is supported by external independent miners who maintain the required computing infrastructure to register each transfer in the accounting book. The data contained in the Eauric accounting book can’t be modified, replaced, or deleted so it will contain all necessary information about the possessions of cryptoactive. It makes the system transparent and secure.
The mining commission is adjusted depending upon the number of miners serving the system and varies from 0.25 to 5% of the value of the transaction. The adjustment of commission is performed to make the system attractive for both parties, those who make transactions and miners processing them.
To make mining profitable, a formula has been created that rewards calculation and adjusts every 30 minutes depending upon the range of parameters such as time of block generation, its size, and the number of operations in a buffer.
The cryptoactive is unique thanks to its capability to support a universal ecosystem. The founders understand that Eauric can’t become a basis of its ecosystem, therefore it was decided to make it a part of Eleutherus, the ecosystem that unites all blockchains. This reward must guarantee that the operation has 3 confirmations in less than 1 minute, be attractive for miners and maintain the needed level to be competitive in the cryptocurrency market to keep the users coming and to grow the community.
Newfund, an independent organization established by Electrumchain, works over the blockchain ecosystem created on the basis of the Blockchain Protocol that employs such technologies as SHA-2256, PoW, and P2P.
Eauric employs Proof of Work (PoW) protocol and offers a technology based on Peer to Peer, SHA-256 cryptography, that is rarely used in cryptocurrencies because it’s pricey to install and implement it. Also, the costly maintenance creates additional barriers for startups with low funding. Using the technology of ElectrumChain, the team managed to lower these expenses that help to make mining profitable at all times.
The team plans to make Eauric a valuable financial tool that will have a competitive advantage over other cryptocurrencies and will then exceed the value of gold. The initial supply of Eauric equals just 200,000 coins. Half of this sum is reserved for Electrumchain and its expenditures. With each purchase of Eauric or its fraction, the platform will be provided with the same amount. Divisibility of gold makes the Eauric a cryptoactive that can be easily increased and this removes the problem of gold when it can’t be traded for less than one troy ounce.
Eaurics are distributed in the following way: 10% is allocated for marketing expenses, 10% is given to ambassadors and affiliates, 30% is provided for business development, 20% is delivered to R&D expenses and the team. 15, 10, and 5% are allocated to Liquidity Provision Funds, Risk Reserves, and Custody and Certification, correspondingly. The tokens are released within 5 years since the launch date of the project.
The value of Eauric is attained thanks to such feature as the massification of the coin that becomes possible with a strategy of making it a part of the Blockchain Eleutherus.