Elementh – Blockchain for E-commerce
Elementh is a blockchain intended for the e-commerce sector. This is a rundown of “merchandise proprietorship”, which can compose an exceptional smart contract and utilize terminology principles to rapidly make decentralized and centralized applications.
Elementh has absorbed the best achievements of recent years in the field of Blockchain, aiming at solving the problems of the modern world of e-commerce. Elementh is a Blockchain designed for the e-commerce sector.
Elementh is the name of a Blockchain company which offers solutions for e-commerce business.
The main idea of Elementh is to offer a Blockchain register of ownership of goods and the ability to use smart contracts to sell them. This will enable the company to use Blockchain technology to improve their businesses.
The company also offers the ability to create several decentralized and centralized applications to be developed by third-parties and used by the e-commerce companies.
Elementh’s goal is to create an alternative protocol for the development of decentralized applications used by e-commerce, providing a standard quality nomenclature, guaranteeing ownership of a particular product and the ability to create specialized smart contracts for e-commerce.
Elementh has absorbed the best achievements of recent years in the field of blockchain, aiming at solving the problems of the modern world of e-commerce. Elementh is a blockchain for e-commerce, which is a register of ownership of goods with the ability to write specialized smart contracts and use of the nomenclature standard to quickly create various decentralized and centralized applications for e-commerce.
The idea to take the basic blockchain technology and apply it to other concepts also has a long history. In 2005, Nick Szabo proposed a concept of proprietary rights protection with owner authorization , which describes how “new advances in replicated database technology” will allow the use of a block-based system to store the registry of someone who owns some land, creating a complex structure that includes concepts such as a manor, unfavorable possession and land tax. Unfortunately, at that time there was no effective replicated database system, so the protocol was not actually implemented in practice. However, after 2009, as soon as Bitcoin’s decentralized consensus was developed, a number of alternative applications quickly emerged.
Disadvantages of Bitcoin’s smart contracts, first of all, the absence of the Turing-complete programming language, led to the appearance of the Ethereum blockchain, a specialized blockchain that allows to write Turing complete smart contracts. Ethereum plans to switch to the PoS protocol in the future, but currently it is still working on the PoW protocol, which affects the speed and cost of transactions in the system. A promising alternative will be the EOS blockchain, which is currently being developed. It provides the ability to write smart contracts, works on the dPoS protocol and makes it easy to create various decentralized dApps applications based on its own blockchain.
Elementh’s goal is to create an alternative protocol for the development of decentralized applications used by e-commerce, providing a standard quality nomenclature, guaranteeing ownership of a particular product and the ability to create specialized smart contracts for e-commerce. Elementh will achieve this by creating a blockchain with a built-in Turing-complete programming language, allowing everyone to write smart contracts and decentralized applications, enabling the use of unified product cards, e-commerce transactions and the transfer of ownership.
Since the advent of blocking technology, many people have been trying to link it to commerce, mainly in two formats: the creation of decentralized marketplaces, such as OpenBazaar, Syscoin, Particl, etc .; and payment systems using crypto-currencies in stores, such as Monetha, TenX, Plutus, and others. While the second group, basically, makes a replacement for PayPal and rather refers to the financial sector, decentralized marketplaces try to combine blockchain and e-commerce.
Along with the system of tokens, Elementh has a system of goods, which can also be used in a large number of applications, such as tracking the movement of a particular item from its creation to the current owner, tracking original goods and detecting counterfeit goods. Unlike the system of tokens, the system of goods also provides for the ability to “issue” a particular product at a particular address, indicating all possible item’s data (such as name, manufacturer, bar code, etc.). And if identical goods are already present in the blockchain, the issuer will receive a message about it, and he will have the opportunity to indicate how many items of goods he wants to “issue”.
If an item has a serial number, it is possible to specify it when the transfer operation is being performed. To provide protection against data forging, only the hash of the serial number is fixed in the system, therefore only the person who knows the initial number has the ability to make a valid transaction. In the absence of a serial number at the moment of “issuing” goods, the system generates it randomly and the holder is able to use it to identify a particular item of goods by printing out the QR code on the package, writing it in an RFID tag or in any other convenient way.
Jan. 15, 2018 – Feb. 14, 2018
April 1, 2018 – April 30, 2018
Token Type: ERC20
Available for sale: 217,500,000 EEE
Price: 1 EEE = 0.0001 ETH
Accepting: ETH, BTC
Hard cap: 1,500 ETH
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For more information, please visit:
Official Facebook Page: https://www.facebook.com/Elementh-1371154296341075/
Official Twitter Page: https://twitter.com/Ahooleeman
Official Telegram Channel: https://t.me/elementh_community
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1326035
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.