Emercoin is a blockchain platform that provides a wide range of decentralized software development kits (dSDKs) that enable the creation of decentralized software and services on the blockchain. Emercoin’s dSDKs include APIs, technical documentation, and parts of code for fast and easy development and deployment of decentralized applications.
Bitcoin’s ingenious design and unbeatable security makes it an attractive platform for deploying decentralized projects, but Bitcoin wasn’t designed for that purpose. Emercoin improves on Bitcoin’s design and provides enterprise developers with:
Flexibility – Emercoin uses name-value storage (NVS) to store data on-chain, allowing it to be used for a wide range of decentralized use cases.
Reliability – Emercoin supports both traditional proof-of-work (PoW) mining and proof-of-stake (PoS) mining to reliably secure its blockchain.
Security – Emercoin doesn’t support smart contracts because of security concerns. Its NVS logic can’t be used to write malicious code.
Emercoin was launched in 2013. It’s reportedly already being used by several notable companies, including Coca Cola, Microsoft, Deloitte, Beazley, Lloyd’s Broker, Risk Cooperative, and Bitfury.
How Emercoin Works
Emercoin is based on the original Bitcoin codebase. It inherits Bitcoin’s security and reliability while adding a number of innovative additions, such as a three-in-one hybrid consensus system made up of proof-of-work mining (PoW), proof-of-stake mining (PoS), and merge-mining with Bitcoin.
Emercoin blockchain is extremely secure because these mechanisms are working in tandem. A 51% attack would require a hacker to have a minimum of 51% of the network hash power and hold at least 51% of the total coin supply.
In addition to offering a dSDK, the Emercoin blockchain already supports a variety of business operations and services, including:
EmerDNS – A decentralized domain name system that supports a full range of DNS records that can only be modified by the record creator, protecting data hosted on Emercoin from censorship.
EmerSSH – A decentralized SSH system that uses the Emercoin blockchain to manage public key infrastructures (PKI) and access control lists (ACL). It makes it impossible for anyone to decrypt transmitted data.
EmerSSL – A decentralized digital certificate authority that uses the blockchain to store hash sums for user SSL certificates. A user can generate a private certificate once and enjoy secure access to their website for years.
EmerDPO – A ledger of ownership certificates that can be used to issue land titles, software licenses, and more. It will be useful in industries where users can’t reliably trust the management of ownership data to a single centralized authority.
EmerLNX – A p2p text-based advertisement link exchange network that uses a PPC payment model. Unfortunately, the development of this service has been put on hold.
ENUMER – A system for using and providing free VoIP services that is deployed over the EmerDNS infrastructure. It is infinitely scalable and extremely fast due to local query resolution.
EmerNVS – Emercoin offers an extensible service for storing and maintaining name-value pairs. The concept was inherited from the Namecoin protocol.
EmerTTS – A trusted timestamping service that automatically applies a timestamp to every new record added to the chain. It checks whether the timestamp is right and rejects records with forged timestamps.
Emercoin Currency (EMC)
The Emercoin blockchain has its own cryptocurrency called Emercoin (EMC) that can be used to pay for financial transactions and Emercoin blockchain services. EMC can be obtained through:
Proof-of-Stake Mining (PoS) – Simply staking EMC guarantees a 6% per annum return.
Proof-of-Work Mining (PoW) – Emercoin uses SHA-256 PoW algorithm and has a 10-minute block frequency and a 5020 EMC block reward. The mining difficulty will increase over time to favor PoS minting.
Trading – EMC is available on several cryptocurrency exchanges.
EMC Trading Volume, Price and Market Cap
EMC has no hard cap and its circulating supply increases by 6% every year. As of this writing, the circulating supply of EMC reached 42,118,422 tokens.
Like most older altcoins, EMC’s price was extremely low after its launch. One token was worth $0.001 USD in August 2014. Its price slowly increased over the years to reach an all-time high of $9 USD with a market cap of $370 million USD in January 2018. Its value has since fallen, but it’s still over 100 times more valuable than its launch price.
Buying, Storing and Selling EMC
EMC can be acquired from HitBTC, Livecoin, Bittrex, Crex24, xBTCe, Upbit, Cryptopia, and Tux Exchange. If you don’t want to use exchanges, you can use Indacoin to buy EMC using fiat money.
For secure storage, EMC has a core wallet available on Windows, Mac OS, and Linux, as well as three mobile wallets: Emercoin Basic (iOS), Emercoin One (iOS), and Emercoin SW, which is available on iOS and Android. Other storage options include Cryptonator and the paper wallet generator.
Liquidity of EMC
EMC has poor liquidity. Its suite of distributed blockchain services and partnerships with big-name companies, such as its 2016 partnership with Microsoft to release a Blockchain Engine (BcE) on the MS Azure platform, don’t appear to be helping its popularity. But overall, Emercoin looks like a quality project with an established history, strong use cases, and a dedicated user base. Its a project worth keeping an eye on.