Ecoin is a cryptocurrency launched in January 2020 with the goal to solve the problems of Digital Identity and cryptocurrency mass adoption. Its mission is to enable online businesses like e-commerce, e-sports, online casinos, or sport betting sites to accept cryptocurrencies to serve a broader range of users. The company ARS Technology Solutions stands behind the Ecoin brand. It is registered in the UK and has a head office in London.
The purpose of the project is to create a cryptocurrency with a simple onboarding process so that crypto could be earned and utilized by non-technical people. Therefore, Ecoin uses advanced AI (Artificial Intelligence) to enable users to sign up using just an email address and a phone number. In 30 days after registration, they receive a blockchain-based digital stamp that acts as a Digital Identity. Users not only get full control over it but also enjoy the highest level of security as they don’t provide any KYC information and their data cannot leak through the service.
The onboarding process is powered by Social Mining, Cashbacks Mining, and Incentivized Mining. Social Mining enables users to earn Ecoins by participating in free offers on the platform. Ecoin Cashbacks Mining allows getting Ecoin as cashback for shopping. Ecoin Incentivized Mining enables users to get rewards by going through the Introduction and Identification process.
The value of Ecoin is determined by the number of users in the network. The higher is its growth, the more valuable Ecoin is, and therefore more people sign up and support it. Moreover, Ecoin gives out its tokens for free but at the same time makes it impossible to accumulate large amounts of crypto by a signal user. Its proprietary verification mechanism and advanced fraud detection system ensure that one person can only claim free Ecoin once.
Being fully powered by the Ecoin token, the Ecoin ecosystem includes the Coin Exchange, Hotcashbacks, Wishoo, a wallet, and a lottery.
The Coin exchange, a semi-decentralized P2P trading platform with high liquidity, allows buying Ecoins while ensuring total security. It does not have control over users' funds and does not require KYC documents.
Hotcashbacks is the platform that gives users instant cashback for mobile recharge and shopping.
Wishoo is the social media that rewards users with Ecoin for posting, watching, liking, and sharing content. Members receive 1 coin for every vote while it’s possible to make 30 posts per day at the maximum. In addition, they get paid for every friend they invite and earn 50% of their referral earnings. The participants get 300 votes and their referral earnings as soon as their referral becomes a 30-day Wishoo member. To vote on Wishoo, the Brave browser should be used. Content providers earn 0.5 Ecoin per vote they receive. To publish 1 post on Wishoo, you need to have 100 active referrals or 40,000 Ecoin in your wallet.
The Ecoin lottery gives Ecoin holders the possibility to win up to 10,000 Ecoins. They get 1 ticket for every 1,000 coins they hold.
The Safex Wallet (formerly Ecoin Wallet) is the official wallet of Ecoin Foundation available for download at Google Play. It uses FIO addresses, identifiers in the form of non-fungible tokens (NFTs) that include a username and a domain and conceal the user's blockchain address. The wallet supports Ecoin, tokens on the Telos blockchain, and pBTC (an ERC-20 token representation of bitcoin). Moreover, it gives users free airtime for signing up and referring friends.
Ecoin is a decentralized utility token based on the Telos blockchain with the capacity to handle 5,000 TPS. The total Ecoin supply is capped at 1 trillion coins. 90% of the total supply was planned to be distributed through airdrops and other marketing activities, while the remaining 10% was reserved for the founding team. 500 billion Ecoins are locked and released by parts that make up about 50 billion every 6 months. The other half is distributed across users for registering on the platform.
Users can earn Ecoin tokens in several ways. First, they can get free tokens through Ecoin token social mining. Second, they can receive coins by reading posts on the Wishoo platform. Shopping at Hotcashbacks rewards users with cashback in Ecoins. Besides, users earn additional 1,000 coins for signing up with a verified email. The platform members are also incentivized with 225-900 ecoins for every friend they refer and other users invited by their friends. Additionally, staking Ecoin gives users 10% monthly rewards.
To give users a strong incentive to keep free coins rather than dump them on the market, the team has created savings accounts to freeze funds for a month and bring a 2% monthly interest.
The platform is integrated with its peer-to-peer exchange so investors can buy Ecoins directly from other users. It is possible to pull funds out to an external TELOS account address, with the minimum withdrawal amount of 1,000 coins. Ecoin tokens can be spent on airtime or cashed out in the user's preferred currency. Ecoin is listed on the ProBit and Hotbit exchanges.
The Ecoin’s team is committed to helping people around the world understand the value of Ecoin. Their skills and experience span across such areas as product development, software engineering, marketing strategy, fundraising, partnership building, staff development, and customer retention.
Abhyudoy Das and Krishna Yogi are the two founders of the project. Abhyudoy is the CMO at Ecoin with 5+ years of experience in managing marketing campaigns for numerous startups. He is also the co-founder of Hello Fans and a member of Crypto Valley Association. Krishna, a serial entrepreneur, and crypto evangelist, is the CEO of Ecoin with over 10 years of experience in handling and analyzing large data sets. He previously worked in the IT industry for Microsoft, Deutsche bank and Royal Mail.
Sivakrishna Vakamullu is the COO having skills in the crypto market, strategy business development, and investment management. Niharika Dolui is a Public Relations manager who has established communication across various countries and guided an audience image for various brands. James Haft is the project’s advisor specializing in succession and business planning.