Good news from Emercoin (EMC): To Gain Huge Attention from Enterprise Firms After Cutting Transaction Fees by 99%

August 20, 2017 at 11:59 am

The Emercoin cryptocurrency-based Blockchain platform Emer will reduce the fees for transactions and creating blockchain records by 99%. Thus, the EMC coin will become 100 times more valuable in terms of functionality.

As of now, the Emer network charges a fixed commission of 0.01 EMC on all transactions, which converts to $0.01 at the current rate.

After the cut, the transaction fee will drop to EMC/USD 0.0001, and the fee for creating arbitrary records in the Emer blockchain will become EMC/USD 0.0005 instead of the current EMC/USD 0.05.

The Emercoin blockchain serves as a basis for many distributed services, including those used for data storage, and many businesses already use it for testing out their blockchain-based projects. The hundred-fold cut in the fees will allow to correspondingly reduce the costs required to roll out large-scale blockchain infrastructures — such as those allowing the creation of digital certificates via EmerDPO, a distributed ledger for ownership of products and intangible assets.

Emercoin will present an application for anti-counterfeiting

The solution EMC DPO Antifake based on decentralized technology will protect products and brands from counterfeiting and track goods from factory to end user.
According to the Ministry of industry and trade in some areas of the Russian economy, the share of counterfeit, fake and grey imports is up to 50%. According to the Ministry of light industry, the volume of illegal trafficking generates approximately 35% of the market, in engineering, the counterfeiting of components is on average about 30%, in the food industry adulteration of milk is estimated at 20%, and fish reaches 50%.
The new tool allows the user to create a product digital passport. Due to the fact that you are using blockchain technology, this ID cannot be faked. The blockchain, the passport, will display all events with production — sales, transport, service, and repair. The manufacturer will need to stick to products with special labels with a 2D QR code.
The buyer of this system will allow using smartphone and special apps to determine on the shelf and in the store if the product is counterfeit or original.
Currently the project is under pilot testing. Emercoin offers almost all the necessary tools free of charge. The value of name in the NVS blockchain Emer is about 0.2 token EMC ($0,04), the cost labels — from $0,01 to $0,1, installation — $0,05–0,1. Total costs to the manufacturer $0.1 to $0,24 (not more than 15 rubles).
Read more about how the blockchain can be used in the fight against counterfeiting, to tell consultants at the business strategy Emercoin Egor Kotkin at the conference Water Mark, which will be held from 4 to 6 July in Yekaterinburg. Kotkin will speak on 5 July in the framework of the session “technologies of information protection”.

Emercoin TestNet

Let’s say, you decided to create a blockchain-enabled project. You might want to store data on products, manufacturers, vehicles, and so on. Then it makes sense to debug every node at each stage — several times. But we have a problem: Adding records to a blockchain comes at a price, and if tests are many, the price might be pretty high.
That’s when the test mode comes in handy. It allows you to mine coins using the CPU of a low-end PC. The coins will still possess all the non-monetary properties of “real” EMC. You can send test coins to test addresses, create any number of NVS blockchain records, and combine test wallets into a testnet. More information: Click here!