What Is EtherGem?
With so many new cryptocurrencies being created, it is hard to sift through them all and decide which one you want to stock up on next. I would like to share a recent coin that I have been mining this month, EtherGem ($EGEM).
EtherGem, "EGEM," is a pure community-based coin with no pre mine. True to its roots as a cryptocurrency, the Proof of Work mining community will always be a part of the EGEM future and is the foundation of the EGEM launch. There is no ICO on EGEM and EGEM is its own primary blockchain, not just a token or concept on another chain.
The EtherGem blockchain is an ethereum network, meaning it starts with the tested and proven ethereum (as in ETH) core technologies and builds from there. Technically EGEM is a Ethereum chain as described in the yellow paper, with EIP150, EIP155, EIP158 applied from block 0. Block Rewards have 7 Eras of reduction, including a founders reward enabled after block 5000.
Developers and Community Managers are bound by a continuity agreement to maintain the network, community, and coin. There is no cap to EGEM at the moment. A monetary cap will be put in place when the community determines what a logical progression would be to cap the coin.
Throughout the Eras, the development team has laid out their plans for the blockchain. The current Era is Era 0, and some of the goals laid out include:
1. Bring sidechain testnet online.
2. Develop and deploy bots and contracts.
3. Facilitate the creation of tokens and dapps.
4. Build community and gather talent.
5. Have a user input period to sense the direction we should take if ASIC's become a rampant problem.
6. Build our own custom block explorer and API endpoint.
7. OPAL desktop client application alpha out for testing and auditing.
Why Should You Care?
The current cryptocurrency scene is riddled with masternode scams, exit scams, and coins with no real use case behind them. Ethergem stands out as being a POW blockchain with no pre-mine or ICO and can be used to launch Dapps just like ethereum at a fraction of the cost. (currently trading at $0.0525 on graviex)
It has been roughly a month since Ethergem's mainnet launch, and things have been moving fairly quickly. Developers have been on track and will soon be releasing their desktop wallet Opal, their custom explorer, and the sidechain testnet.
There is also already a project in development to launch on the Ethergem Network, Division X. They will soon be airdropping their tokens and creating a system that applies Communal Validation to help evaluate and authenticate cryptocurrency projects through delegation and peer analysis. Their tokens (DX Tokens) will act as an essential aspect of their operation, specifically as votes in the delegation events.
The coin is currently listed on two exchanges, BitShares and Graviex. The community is actively trying to get the coin listed on more exchanges, as well as on well known apps such a Blockfolio and Livecoinwatch; and has already been listed on the Delta app.
Early adopters always win in the end, and there is no better time to get into Ethergem than now. If you are a miner you can enjoy the high block rewards, or you can easily purchase $EGEM at a very low price on one of the exchanges it is currently listed on. This coin is without a doubt a hidden gem in the crypto sphere.
You can find out more about Ethergem at the following links
Ethergem Website
Ethergem Github
Ethergem Discord
My Ethergem Mining Pool:
DopeBlocks EGEM Pool