Jakarta - The digital currency market will be increasingly crowded with the presence of new cryptocurrency triggered by one of the founders of this Uber.
Garrett Camp, who along with Travis Kalanick built the Uber ride sharing platform, has launched his cryptocurrency named Eco.
The man who is also the founder of a funding company called Expa wants Eco to become a global digital currency that can be used as a method of payment in transactions in everyday life.
At the beginning of this emergence, the cryptocurrency will issue a trillion tokens, of which 50% is given to the first billion registrants, 20% for colleges with trusted IP addresses, 10% of advisors, and 10% to strategic partners.
While the rest will be directed to the Eco Foundation as the foundation responsible for creating and maintaining this network of digital currencies, such as detikiNET quotes from Tech Crunch, Monday (5/3/2018).
In this initial phase, Camp and a number of colleagues in collaboration with Expa will donate USD 10 million to the foundation as an operational cost.
Eco's own initial proposal explains that this cryptocurrency wants to fix a number of issues that are commonly found in digital currencies.
The development includes that Eco only allows the owner of a verified IP address to enter into its network of transactions so that no anonymous user is on Bitcoin as an attempt to avoid cyber and fraud attacks.
Then, this cryptocurrency will have a large token inventory, simple sites, and apps for mobile devices to make it more user friendly.
Not to forget, Eco also want to be more efficient in energy use when doing transaction verification and get token.
Camp confirmed that there will be no initial coin offering (ICO) within Eco, as some ICO operators in various countries often encounter regulatory issues.
Eco is expected to test the network by the end of this year, but users can register to get usernames and tokens. (fyk / fyk)