Frequently asked questions
Why is it called Ecoin?
Electronic mail is called email. Electronic coins could be called ecoins. This cryptocurrency is called Ecoin, perhaps for the same reason that Bitcoin is not called Bitcoins.
Among so-called fiat currencies, the monies of sovereign states, it is common to share the name of the money. This does not appear to be a problem. Wikipedia states that "Dollar (often represented by the dollar sign $) is the name of more than 20 currencies." They hope that participants in the block chain have the savvy and sophistication to cope with more than one Ecoin.
Which exchanges list Ecoin?
None. Another perspective is that an objectively successful cryptocurrency would not need to have an exchange because it would be exchanged in commerce for goods and services.
What about the ICO?
None. What might be called the developers are people in informal association to solve the scaling problem of proof of work. There is neither formal organization to support an initial coin offering, nor the distractions of legal and moral requirements to provide a return on investment to investors. There is only freedom of action to explore the best method to reduce the wastefulness of "hash power" proof of work using interactive proof of work and intexes.
Why is only the transaction component open source?
The sending, receiving, and storing of value is the most important use of the block chain. This is the part where transparency is expected. The method to produce a transaction is fully disclosed in the free, open source reference implementation of a web wallet.
Why is part of it closed source?
The answer is not complicated. The node and intex validator is closed source for now. The means to incorporate as many intexes as possible requires a limitation at this stage in the number of people who can see the witness validator source codes. It is impractical for every participant in the block chain to sign a non-disclosure agreement in order to operate a full node. However, the interactive proof of work will always be fully open to public participation, and the results of that work, the block chain (and transactions recorded in the block chain) will also always be fully open for public inspection.
Moreover, like a tropical in Siberia, the idea needs to be diligently and attentively nurtured to fruition. There are many risks and challenges. Not the least of which, they cannot let it become dominated, derailed, or squandered by self-serving interests at the expense of our environment. Proposals are unwelcome for the benefit of whales and "Big Mining" but for the benefit of puting money in that hands of as many participants as possible.
What if there are problems?
Well, there will be problems. Even a resilient network can be challenged by denial of service attacks. Block producing nodes may have to be taken offline, in turn, during an emergency, but the block chain is persistent. They are committed to indelible transactions. These are early days. There will be no hard forks to rewrite history, but there may be downtime. It is technically possible to continue to produce proofs of interaction, depending on the intex, even if I am not connected to the network. I can store them for upload or broadcast to a node. Future intexes will contain this functionality.
Why is an Ecoin measured to 30 decimal places?
Bitcoin is measured to eight places. Ethereum ether is measured to 18 places.
Ecoin allows many more participants in the consensus process to be rewarded for their efforts. In fact, Ecoin allows every participant in the consensus process to be rewarded. There is no such concept as wasted work. One block reward has at least as many award recipients as there were unique contributors of proofs incorporated in that block. Every proof is rewarded. This requires the ability to divide an Ecoin among the many more participants. It is possible in the future that an Ecoin is measured to more than 30 places.
This does not diminish the value of an Ecoin. I consider a United States Dollar: $1.0 === $1.000000000000000000000000000000. One dollar is not worth less for being able to be divided more. More decimal places allow more participants to benefit from the value of money. They want more people to earn and to have Ecoin cryptocurrency, especially people around the world who for circumstances outside of their influence and despite any amount of their hard work, have been until now unable to participate in earning cryptocurrency.
How can we cope with so many decimal places? It can easily be done with a computer.
I know that this is a scam....
This is not a question....
The methods to produce the consequences of transactions: sending, receiving, and storing value, are open source. I can investigate the methods in the reference web wallet.
In the worst case scenario, I will have spent some time playing some simple web games, the technology demonstrators, to earn some Ecoin; in the best case scenario, in the future, I will have spent some time playing some quality games, to earn some Ecoin.
Who is behind this scheme?
Alex Neumann developed this interactive proof of work to solve several significant problems in hashing proof of work.
They think that the solutions provided by interactive proof of work are greater than whoever is behind the idea. We need to implement these solutions first before we decide who are the heroes.
If there is one day a Nobel for work saving the environment, they may all step out of the shadows to be nominated. If they were to receive such a recognition it could only be accepted in the name of all participants in the block chain, the community of diverse, competing interests who make such a thing possible.
Is Alex Satoshi Nakamoto?
I recall that the people behind this idea are not important. The idea to reduce the unnecessary expenditure of resoures is important.
Satoshi Nakamoto using that name is not known to any member of the team.
How can I help?
I should read the white paper and tell someone who might be interested about what I found here. My interest will make the world a better place if we are successful in this endeavour.