Garrett Camp, best known for being as co-founder and founder of Uber and accelerator/venture fund Expa.
The currency is named as “Eco”, and he wants to make the currency worldwide and use it for daily –use transactions.
There will be one trillion tokens issued at first, half will be offered away to the first billion checked people that join. 20% will go to the colleges and universities which are running trusted nodes, 10% will go to partners, 10% will go to key accomplices, and 10% will go to a recently shaped Eco Foundation which will be in charge of making and keeping up the system. Camp and additionally few accomplices partnered with Expa will likewise give $10M to seed the establishment with a working spending plan.
Other than that there will be no ICO– which implies no cash will be raised for the task, and furthermore gives the venture a chance to maintain a strategic distance from any potential legitimate issues which have now turned out to be predominant with most major ICOs.
According to bittmint, to start with, it needs to utilize verified nodes in order to support the network and confirm the transaction. This can solve the issue of getting fraud cases by 51% which is great and mostly it won’t be decentralized currency
The ICO will have a large number of token supply, along with this the simple web and mobile application for users to access. The main aim of the project is to be user-friendly and not end up as bitcoin with high token rates and making sure the wallet i.e web app and mobile application are easily accessible to users.
Other than different cryptocurrencies, this token is not planning to make a network of electricity-intensive miners supporting. Its last improvement is to be energy sufficient to confirm transactions.
Eco is a treasured concept but not the Nobel one. Earlier days of crypto where people use to copy paste the bitcoin and pretend to change the world.
Possibly Eco will have better fortunes with this. What’s more, truth be told, joining accomplices to manufacture a biological community is a territory where this new digital currency ought to flourish, considering Garrett Camp’s inclusion and prominent in the tech business.
According to bittmint sources, Eco would like to have a test net running before the year’s over, however, clients can join now to assert a username and hold a few tokens.