Every day there are more and more different new cryptocurrencies appearing on the market. Some of them are exact copies of Bitcoin, others may include minor changes in the source code, and only once in a while a noticeable project shows up, bringing truly innovative ideas and solutions. Emercoin belongs exactly to the third type. From the moment of its creation and to this day our cryptocurrency offers new original ways of solving all sorts of problems. Below are listed only 5 of the numerous features Emercoin provides.
1. Emercoin’s Name-Value Storage
Emercoin’s Name-Value Storage (NVS) is a simple yet powerful concept that allows users to store arbitrary data within the blockchain. It already made possible a range of distributed services, such as decentralized blockchain-based DNS (EmerDNS), the entire system for Public Key Infrastructure (EmerSSH), a system for passwordless website login and identification using the Emercoin blockchain as a decentralized trust store (EmerSSL) and more!
2. Three-in-one hybrid mining
Unique hybrid mining system is considered to be one of Emercoin’s main attributes. The system itself unites Proof-of-Stake (PoS), Proof-of-Work (PoW) and Merged Mining, allowing users to choose method they prefer the most, while enhancing the security of Emercoin’s blockchain.
In case of PoS mining, also referred to as minting, users can assist the Emercoin network to verify and broadcast transactions by generating new blocks. The wallet generating such blocks is rewarded with additional coins. All in all, user earn PoS bonuses at the rate of approximately 6% per annum.
However, users may also choose PoW mining and benefit from the fact that Emercoin is merge-mined with Bitcoin, allowing to use the same SHA-256 algorithm. This way any miner's of Bitcoin is at the same time capable to mine Emercoin as well.
3. Strong security principles
Emercoin can be considered one of the most secure cryptocurrencies on the market. While inheriting all the security advantages of Bitcoin, such as peer-to-peer technology, it also adds number of its own innovative additions. To be precise, Emercoin operates without a centralized authority, so issuing currency and verification of transaction here are carried out collectively by the network through consensus. Thus, all records are entirely decentralized and uncensorable, or in other words they cannot be altered, revoked or suspended by any authority.
The huge role in ensuring Emercoin’s security is played by already mentioned hybrid mining system. One of its main functions is to protect the blockchain from 51% attacks and spontaneous centralization when the miners join their efforts in a mining pool. Basically a successful attack on Emercoin would require someone having both a minimum of 51% of the network hashpower and at least 51% of the total coin supply in possession, which doesn’t make sense as an attacker would damage the entire network and devaluate his own coin holdings.
The size of bitcoin’s blockchain has long exceeded 100 gigabytes and it continues to grow. A similar situation is observed with other cryptocurrencies. The current situation is inconvenient for all market participants, however, in most cases there are no specific solutions to this problem.
Meanwhile, Emercoin’s blockchain stands at above 200 megabytes, which is up to 1000 times smaller than its competitors. Needless to say it’s unbelievingly easy to maintain and use, even on such small devices as Raspberry Pi.
5. B2B focus
Nowadays most of cryptocurrency projects tend to follow ICO model, creating a hype bubble. It’s true that such tactic may help attract potential investors as well as draw additional user’s attention. However, these projects, with rare exceptions, don’t produce anything other than the cryptocurrency itself.
Emercoin team decided to use their platform for solving specific problems at a company level, making it cheap and widely applicable. They are already providing blockchain-based services that are being used by different clients all around the world, including some international companies such as Coca-Cola.