Eco

A global currency protocol, from the co-founder of Uber

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#2 Product of the DayMarch 02, 2018

Eco aims to create a new global currency that is easier, safer, and faster to use than paper money. In addition, Eco will ensure that the majority of the economic value generated by the platform is fairly distributed to its community to create a more equitable distribution of resources.

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Reviews

  • BenProduct @ Input
    Pros: 

    Taking a community first approach

    Cons: 

    None?

    Really interested to see what a community first approach to a cryptocurrency will look like. The design doc pdf outlines their model, and has some real differences from other coins. Specifically, they're tackling energy consumption and dominant mining pools by enacting a forced distribution model across trusted pools. Seems like a promising approach.

    Ben has never used this product.
  • Pros: 

    very nice

    Cons: 

    none

    rly nice

    Albert Bechekanov has used this product for one day.

Discussion

Makers
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Eric Diepeveen@ericdiepeveen · CEO, Stolen Couch Games
Token Distribution: 10% will be held by the Eco Foundation to fund operations and community grants, and 10% to active contributors and advisors. 10% will be allocated to strategic partners worldwide. This will make those "partners" and "advisers" very very rich.
Lyondhur@lyondhur · T&R Project Manager at Weta Digital
@ericdiepeveen the very first thing I thought.
Erick Barron@erickbarron86 · Webmaster
Yet Another Crypto Coin
Hank StoeverHiring@heynky · Nerd and gnar
It's an interesting concept, and their white paper is pretty short and easy to read. They're building a proof-of-authority network, which means that only a pre-selected group of nodes can participate in validating the blockchain. This makes scalability a lot easier, at the cost of centralization. They aim to eventually grow to "a few hundred nodes, targeting universities across 50+ nations". This would be more decentralized than most PoA cryptocurrencies, and it's much better in this regard than i.e. Ripple, but purists will still be unhappy. I'm a big fan of the 'community-driven' model, and block rewards are distributed to nodes and "qualified users". Overall there is very little technical detail around this project, especially since they claim to achieve 100,000+ tx per second throughput, through a sharding process. We'll have to wait and see what comes from this team.
Aaron Lee D'Souza@aaroniclee · Designer/Executive
Big red flag when I made an account, got a confirmation email, and then they asked for my mobile number to "complete registration". You should be very careful of which online businesses you give your mobile number to.
Martin Otyeka@otymartin
@aaroniclee At this stage numbers are just as primitive as emails. Not a big deal.
erikig@erikig · Freelancer
@aaroniclee Pretty sure Garrett already has your phone number ; )
Jack ForbesHiring@thenameisforbes · Co-founder, PadPiper
As a big fan of my fellow Canuck, Garett Camp, I'm excited to see how Eco does!