With the rise of cryptocurrency comes EagleCoin, an ERC20 Ethereum token with the functionality of a digital asset. A part of the EaglePay and EagleShare systems, EagleCoin was released in October 2017, and it is intended for use in the development of a robust community, eventual dividend payments and a digital value intended for transactions, as well as a highly profitable asset for investors.
About Cryptocurrency
Within the past decade, blockchain technology has swept the globe. Over 1,000 tokens and cryptocurrencies have been created, featuring benefits such as low fees, security, and user anonymity. Blockchain technology is based upon decentralized control, versus centralized banking or electronic money systems, and has a high potential of gaining a foothold as a mainstream payment system due to its popularity and widespread use.
As an investment, cryptocurrencies are attractive to many as the increases in value make them sought after, with the current cryptocurrency market capitalization reaching 25 billion USD as of March of 2017. The acceptance of cryptocurrency as a payment system has yet to reach universal acceptance, but the popularity and use of this medium is ever-increasing. Cryptocurrency is not going to go away, and improvements in blockchain technology systems promise to yield greater rewards to those who participate.
The name “Eagle” was chosen to portray the EaglePay system as a high-performing, dynamic, and strong brand of cryptocurrency. Utilizing the PosTokenStandard mechanism developed by PosStandard, EagleCoin is operated by Ethereum blockchain technology. Ethereum blockchain was chosen due to the increasing popularity of this technology. Different ways to use this technology are being explored, and EagleCoin is a leader in cryptocurrency innovation.
The community under development in relation to EagleCoin holders will be manifested using social media, and the initial offering of EagleCoin is 3,600,000 coins (30% of the maximum total number of all future coins). The total number of all future Eaglecoin will be capped at 12,000,000 coins. EagleCoin is a 100% pre-mined token that represents a share in EaglePay holdings.
The investor community being developed is very important to EagleCoin, as it will be perceived as a place for profitable investment and a bridge to new user interaction with banks and others where barriers in former cryptocurrency design ( i.e. not meeting regulatory requirements) made use difficult in the past.
Using EagleCoin with EagleWallet
In order to use this blockchain technology, holders of EagleCoin will have an EagleWallet Android wallet for storage (eliminating the need to type or copy long randomized private key/passwords). EagleCoin holders may desire access to EagleWallets in locations where computer access is unavailable. To meet the need the EagleWallet was developed using the Tor network, allowing for anonymous private access that is difficult to be traced, for security purposes. The EagleWallet makes accessibility by users easier and less time-consuming.
Staking Rewards
Staking rewards can be claimed by coinholders when the coins have been held a minimum of 3 days. This reward is proportionate to the length of time coins have been in holding and the number of coins that are held. The value of this relationship is referred to as coinage, which is tabulated by the length of time coins have been held multiplied by the number of coins.
Sets of coins that are bigger and older will have a greater coinAge, and there is a direct relationship between the staking rewards and coinAge. Once staking rewards have been claimed, the coinage is reset to zero again, and holders must again wait a minimum of 3 days to claim another staking reward. CoinAge reaches a maximum level after 90 days in order to prevent unfair market domination, and will never increase beyond the 90-day limitation level.
When transferring any amount of coin to other wallets, the coinAge will once again be reset to zero. EagleCoin holders can transfer any amount of EagleCoin to their own wallet (senders and receivers address must match). Mint functions can be executed using the EagleCoin smart contract by using Mist, MySmartWallet, or any wallet software that features contract interaction.
Staking reward estimates for the first year of EagleCoin holders are about 100%, that is if one held 100 EagleCoins, the staking reward would be 100 EagleCoins by the years end. Second year estimates are in the range of approximately 50%, and in the 3rd and subsequent years they will fall to about 10% and stabilize.
Benefits of Eaglecoin for Investors
There are three main benefits for investors in EagleCoin. The first is the staking rewards, which can be claimed after holding EagleCoin for only 3 days. The second is that for each EagleCoin held, an EagleShare token is generated on a one-to-one basis and can be collected. This token can be sold or used to garnish dividends based on EaglePay holding performance. Lastly, when the value of EaglePay rises, a corresponding profit is made.