Elementh Review February 27, 2018 – Posted in: Reviews
THE MAIN IDEA/MISSION
Elementh is willing to revolutionize the e-commerce by creating a protocol for developing e-commerce dApps with a standard quality nomenclature, product ownership guarantee and the possibility of creating smart contracts. All this will be achieved through the creation a brand new blockchain with a built-in Turing-complete programming language.
By utilizing the blockchain technology, Elementh is going to solve such situations where different goods have the same barcodes or the same items have different barcodes. Within Elementh, there will be a unified nomenclature. Thus, to create a new merchandise card, a system’s participant will have to pay a fee. If he uses an existing merchandise card, it would cost him significantly less. The originality of goods in the system is ensured by the dApps and smart contracts.
All in all, there can be two types of dApps built on top of the Elementh blockchain: financial and non-financial apps. The first ones allow managing and participating in contracts using money (buying/selling products and content). The second ones are not related to finance and can be used to identify counterfeit goods in the supply chain, for example.
Elementh can be used for tracking the movement of goods, sending messages in a decentralized way, search fake goods, create decentralized marketplaces using existing merchandise cards, search goods by geolocation, etc.
Elementh blockchain has its internal currency called Elementh (EEE) that is used for all operations inside the ecosystem, including payment of transactions fees. People can contribute to the project as investors by purchased EEE tokens within the ICO campaign.
Participants of the Elementh ecosystem are identified by accounts. Thereby, each account contains data about ownership of goods and a balance in EEE tokens.
What is important, Elementh blockchain can literally be used by any marketplace and online store. Considering that the global retail e-commerce turnover is expected to reach $4.058 trillion, the growth opportunities are extremely high. Partnerships with the new marketplaces all over the world can make Elementh a standard in the e-commerce market.
Elementh / EEE
303 million EEE
1 EEE = 0.0002 ETH (within ICO)
private round — 15 Jan – 31 Jan 2018; public round — 1 Feb – 14 Feb 2018
1 Apr – 30 Apr 2018
|ICO Bonus Scheme||
1st day: 30% Tokens, 2nd day: 15% Tokens
The total supply of 303 million EEE tokens will be distributed as follows:
217,500,000 (71,78%) EEE – investors
45,000,000 (14,85%) EEE – team
40,500,000 (13,37%) EEE – partners and advisors
The Miiix company standing behind the Elementh project has been established in 2012. Back then, the company has attracted investments from RSV Venture Partners and business angels. By 2014, the number of product categories has already reached 1,000. And, by 2016, the Miiix database has already counted 70 million SKU in 30,000 product categories, 1,000 shops from various industries, as well as customers from small shops to huge e-commerce representatives. In 2017, the company has decided to move to the blockchain technology with introduction of an open-source project called Elementh and launch and ICO campaign.
Thus, the Elementh has already completed 2 pre-ICO rounds: one of them was private (Jan 2018), and the second one was public (Feb 2018). Currently, the company is preparing for the main token sale that will take place as of April 1st to April 30th, 2018.
The alpha version of the Elementh blockchain is expected to be out in June 2018. The Elementh blockchain TestNet will be out in September 2018. The launch of the Elementh blockchain is planned for December 2018, and the launch of the first dApp is expected for March 2019.