Ethereum Basic is the latest cryptocurrency that aims at addressing the most important issues facing Ethereum, and in the same manner, enhancing decentralized governance. According to the developers of Ethereum Basic, some issues needs urgent attention such as;
• Scaling: upgrading the network capacity with the use of both on-chain and off-chain solutions.
• The extract the challenging bomb so as to reduce the pressure on miners to accept upcoming upgrades.
• PoS transfer should be full and exclusive, rather than incomplete.
• Executing ASIC resistance
• Higher incentives for complete nodes.
In a bid to make Ethereum Basic popular, every Ethereum holder can now make free claim of the ETBC free at 1:1 ratio. To be able to disburse free coins, the network screenshot will be taken on May 16, 2019 at exactly 16:00 GMT. This is to make sure it is only those users that have ETH at that very period receive the free coins.
However, the Whitepaper offers distinct solutions that the Ethereum Basic will oversee during the first 15 months of its launching. The Ethereum Basic should be seen as the latest Ethereum-based cryptocurrency that will be mined distinctively from Ethereum. Some amount of ETBC will be given to the current holders of Ethereum as an incentive so as to enable them be a part of the growth and expansion of the network.
Ethereum Basic Dex
After launching the main network, Ethereum Basic is expected to introduce its personal decentralized exchange, which will be known as XDEX. This is a move to establish a direction of full scale financial network that will be simple to use and at the same time decentralized. At all times, Users funds will always be in their care and control. XDEX will never request any User to transfer their token into any exchange account.
Why ETBC
Ox Protocol Transaction: ETBC was solely created to establish a complete decentralized, cost-effective and cost-efficient, seamless financial network. The ox protocol is idea solution for Ethereum Dex and its wallets. Ox protocol is currency-agnostic. It is ideal for Ethereum Basic just as it is for any other ERC20 token. Ox protocol encompasses partly both on-chain an off-chain solution for the transfer, trade, and exchange of cryptocurrencies based on Smart Contracts.
Transferring Etherless Token: It is expected that Ethereum Basic will offer the exact Smart contract abilities as the foremost Ethereum network, so as to enable other blockchain projects to issue their tokens and organize fundraising campaigns. Amongst the several problems that Ethereum Basic will address is the issue of gas. Every Ethereum transaction requires gas, and ETH is the only acceptable means of payment for gas. Any user who wants to trade tokens must have some ETH in their wallets that's solely set aside for just this reason. This is however considered an act of inefficiency. Mainly becuase mo participant of the ICO can buy freely higher amounts of tokens with their ETH since part of the ETH must be set aside to buy gas and the amount is not known upfront.
Unhealthy gas fee has been one major issue facing Ethereum since there's no fixed fee and users can only predict and make guesses as to the amount they can bid to ensure their payments are been processed. The main reason behind the incessant gas fee issue is due to the fact that the algorithm works the same every time, irrespective of the network activity level.
TOKEN DETAILS
Token symbol: ETBC
Initial supply: 2million ETBC
Intial distribution: 95% of initial release amount
Beneficiaries of distributed toke: Bounty hunters and Holders of ETH.
Airdrop will be in 1:1 ratio
CONCLUSION
Ethereum Basic is concerned with absolute decentralization. The Ethereum Basic team are keen on addressing the issues facing Ethereum and every components causing those issues will simply be removed. And this will enable the market to have a proper economic equilibrium for ETH given price.
For more information please use the links below:
Ann thread: https://bitcointalk.org/index.php?topic=5141077.0
Website: https://ethereum-basic.com/
White paper: https://ethereum-basic.com/whitepaper.pdf
Telegram: https://t.me/EthereumBasic
Authour’s Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=2148371