What is an Earthcoin Wallet?

Earthcoin (EAC) is an altcoin cryptocurrency founded and debuted on December 20th, 2013 in Japan, and released in Toronto, Canada. The mission of Earth Coin is to focus on the people, environmental sustainability, and freedom. Its mission is to become a pure trade-based cryptocurrency and offer investment opportunities to the public. 

Earthcoin wallet is a software technology using wallets to store, send, and receive virtual currency, and to make everyday purchases from local markets that accept the altcoins. Users can make transactions and view their balances on the blockchain ledger that uses the Litecoin framework.

History of Cryptocurrency

Digital currency began in 1983 when David Chaum developed eCash, a cryptographic system and the DigiCash, an economic transactions crypto system, in 1995. A new decentralized cryptographic system developed in 1998 by Wei Dai, followed by the first cryptocurrency Bitcoin.

Digital currency began in 1983 when David Chaum developed eCash, a cryptographic system and the DigiCash, an economic transactions crypto system, in 1995. A new decentralized cryptographic system developed in 1998 by Wei Dai, followed by the first cryptocurrency Bitcoin.

How Does Earthcoin Cryptocurrency Works?

Earthcoin’s technology uses public addresses rather than account numbers on its blockchain. The wallet allows you to control your private keys and host a full copy of the ledger. When a user sends money to a recipient, the online transaction, known as a block, broadcasts publicly to all parties in the blockchain network, based on JISTEM’s Academic Research.

A block provides a traceable and transparent record of all digital transactions. After the transaction is complete, the money moves from the sender to the recipient. Each transaction goes through a validating process, called mining, by computers in the Earthcoin’s blockchain network. It ensures the system is secure to prevent malicious attacks.

What are the Benefits of Joint Mining Earthcoins?

  • To increase the number of earth coin holders, known as addresses.
  • To increase the earth with purchasing power.
  • Enhance computation power for decentralization.

Earthcoin Theory

Earthcoin integrates the moon and full-moon cycles and allows miners to reach the maximum amount of 13.5 billion coins. Full-moon cycle is an X2 payment promoting a double release of coins of miners, and the moon/month cycle is an X5 payment that releases the coins at five times the actual payout. The period of the EAC is 365 days, beginning with 10,000 coins each day.

It changes the curve with the magnitude of 2,000. For an example, the first 10,200 coins will adjust to 12,000 after three months and after six months they go down to 10,000. The EAC continues to go down after nine months to 8,000 and after a year up to 10,000, paying it in half.

Earth Coin Released a New Version of EAC Wallet

In early February 2021, EAC released an announcement of a mandatory upgrade of Earthcoin wallet version V2.1.1.0. The upgrade supports the AUX and POW joint mining that merges other digital currencies using the same algorithm on the Litecoin framework. Its production occurs at the same time as other altcoins, including Litecoin and Dogecoin. It is mandatory that users of the EAC wallet version 2.1.0.X upgrade in order to use the blockchain.

Technical Features of EAC

  • Power system comprising data blocks maintained by all maintenance nodes for accessibility to users.
  • Reliable database system that allows participating nodes to receive a copy of the full database by the sub-database.
  • Open source system for transparency.
  • Privacy technology to protect public identity of each participating node in the system.

Challenges of Cryptocurrencies

Cryptocurrency has its complexities and lacks consensus on issues, such as a definition, no financial institution operations, further developments, and the impact on the economy. It is attracting the attention of governments, banks, technology professionals, and economists. What makes digital coins popular is its innovative technology features, transparency, and high market price, such as the Bitcoin.

One major challenge is the decentralization of the digital currency that does not involve financial systems and the customary currency. It goes against the purpose of decentralization, avoiding government control and central banks. Another issue is the transfer of the same coin more than once, causing a double entry on the ledger.

Mission of Earth Coin

Earth Coin mission is to seek sustainable development by devoting to quantifying the earth’s resources. Their goal is to ensure these resources have constant digital assets unit. EAC’s blockchain technology features a network storage to store research data on the forests, fresh water, land, fossil fuels, biological species, and minerals. Data sources are expanding and laying the fundamentals for the development of sustainable and fair earth resources in the gigantic data industry.

Earthcoin is the people’s currency and marketed for nearly eight years. It is among 4,000 cryptocurrencies, making up about 40 percent of the altcoins crypto market. As the Earthcoin wallet continues to strive for excellence in powerful processing of transactions, investors and consumers are gaining more interest. Presently, there are over 21 mining pools and 10 EAC online platforms.

The recent version of Earthcoin wallet provides phenomenal power for maintaining data blocks in a reliable database system. It’s open source for transparency and it comprises enhanced technology for security and privacy. To invest in EAC, you can find it on various OTC (over-the-counter) stock markets and the cryptocurrency market.

Watch Earthcoin’s YouTube video to learn how to download and use the EAC wallet today! The Earth Coin supports good causes to improve the global environment and can be downloaded on computers and smartphones.

Earthcoin – The Peoples Currency

The expectation of every investor is to make a profit. With the emergence of cryptocurrency, a plethora of options has emerged. From Bitcoin to Dogecoin to the newly introduced Earthcoin. There are more than 4,000 cryptocurrencies in existence, at this point, any coin that is not Bitcoin is considered an altcoin, altcoins make up approximately 40% of the cryptocurrency market. With all of the competition Earthcoin is trying to find its way to the forefront of the crypto world.

The Peoples Currency

Being called the peoples currency would make one think this is a coin for the people and it was designed to be just that. The transaction speeds of downloading this altcoin are second to none. Once you pay or get payed with Earthcoin the transaction is equal or faster than a debit card transaction.
The coin was designed with the people in mind, using this coin will allow users to purchase everyday items from local markets. Check out the specifics here. The reason this is so important is because the speed of the transactions gives users the ability to use Earthcoin in any store in the future.
Earthcoin made its debut in late 2013 when the developers went all-in to make this altcoin a success. The coin jumped out of the block quick and fast, it began trading at Cryptsy.com allowing the public to invest in it.

Mining Earthcoin

When you mine a cryptocurrency you obtain the coins without paying any money for it. Mining Earthcoin is no different than mining any other crypto, the specifics can be found here. Because Earthcoin is a descendant of Litecoin, it uses a script algorithm to mine the coins. The miner has the possibility of obtaining approximately 32,000 coins per calendar year.
There are incentives in place to allow miners to reap the rewards to help cover overhead costs incurred while mining. Earthcoin has incorporated the moon cycle and the full moon cycle. The full moon cycle or X2 payout, promotes a double release of coins to miners. The moon cycle or month also known as X5 payout releases coins at five times the normal payout.
Earthcoin only allows a certain amount of coins to be released so once miners reach the maximum amount of 13.5 billion coins miners will not be able to find anymore coins until the number is reset.

EarthCoin and LiteCoin

The similarities between Earthcoin and Litecoin are noticeable because they both use a scrypt as proof of work. The Earthcoin is based on the Litecoin software that has already been vetted and proven. It made sense for Earthcoin to be a successful altcoin since it used the Litecoin framework.
Litecoin (LTC) has a Market Cap of $16.2B and it is currently trading at $241.30 giving Earthcoin, its distant cousin, hope to have a successful future in cryptocurrency.

Wallets

Unfortunately, cryptocurrency is not immune to theft. But, fortunately, wallets are digital solutions for securely storing and managing cryptocurrencies. By using a crypto wallet users are given the ability to receive, spend and even trade cryptocurrencies. Because cryptocurrency wallets are so important for protecting crypto assets there are multiple wallets at your fingertips. The balance ranked the wallets for 2021:

  • Best Overall: Coinbase
  • Best for Beginners: SoFi
  • Best for Mobile: Mycelium
  • Best for Desktop: Exodus

You can check out the entire list here. If you want to set up a wallet for using Earthcoin visit this link

Is Earthcoin a Legitimate Alternative to Bitcoin

Bitcoin has been the biggest success of the cryptocurrency arena. The stability of bitcoin is far superior than the competition. Bitcoin is the elder of the group making it a more attractive investment even though, the smaller alt coins have a sizeably smaller investment cost. With the success of Bitcoin large companies such as Tesla, Paypal and Microsoft have started to accept the crypto as a form of payment. This of course makes it a more attractive investment.
Earthcoin has the ultimate desire to make it a commonly used form of currency as well. Replacing the dollar as the sole currency of the people is where all digital currency backers want to be.

Is Cryptocurrency a Bad Thing?

The naysayers of cryptocurrency have stood by the argument that criminals use crypto to do illegal dealings because the transactions cannot be tracked by the government. In defense of this, the government introduces regulations on cryptocurrency to make it difficult to do anything with it. The deniers believe that cryptocurrency is extremely volatile and unsafe for investors. Bitcoin has hit an all-time high of $60,000 proving investors are not interested in the naysayers but, they believe this is the way of the future.

US Dollar vs CryptoCurrency

The main competition to cryptocurrency has always been the possibility of the US Dollar becoming digital. If this happens the world of crypto might end abruptly. There have already been some cashless systems in place, according tofanfoodapp, there were five stadiums that tried this cashless way of life in 2019. With the way to world is evolving, this seems inevitable. The thought process of sports stadiums going cashless is shorter lines and faster transactions so fans can get back to their seats and enjoy the event. This does not open the door for cryptocurrency to take control but, it does make the US Dollar work harder to keeps its’ seat at the front of the table.

The price of Earthcoin sits right now at $0.00429873 and it is traded at Coingecko, using the ticket symbol EAC. Its market cap is ranked at #528, the source code can be found at Github. Earthcoin was released under the terms of the MIT license. There are multiple communities in place for Earthcoin such as Reddit, Twitter, Facebook, earthcoin.io etc.. There has been a slow and steady rise in the price of Earthcoin making it an attractive altcoin to invest in.