EcoDollar: A Decentralized Cryptocurrency Supporting Green Planet Initiative
The traditional banking and financial systems have failed us time-and-again still offering rudimentary solutions despite a massive breakthrough in internet technology over the last two decades.
As a result, decentralized cryptocurrencies free from government and regulatory intervention are seeing a lot of demand. Over the last decade since the inception of Crypto Currencies, cryptocurrencies have played a vital role and managed to penetrate the mainstream financial markets to a great extent.
But the thing with cryptocurrencies like Bitcoin is that their algorithm works on the Proof-of-Work (PoW) consensus model that requires miners to compete against each other to unlock new blocks in the blockchain network. Hence they consume a lot of electricity ultimately impacting the environment.
EcoDollar – Solving the Existing Anomalies With A Greener Cryptocurrency
Solving the existing anomalies of the crypto industry, EcoDollar is one such revolutionary blockchain-based decentralized digital currency free from the intervention of any political entity or central government.
EcoDollar is a Proof-of-Stake (PoS) open-source cryptocurrency that runs on its native encrypted blockchain part and a part of the EcoDollar ecosystem. The EcoDollar ecosystem comprises of its native cryptocurrency, an encrypted blockchain platform, and an open support community.
With the Proof-of-Stake (PoS) consensus model, EcoDollar works on the “staking” model wherein the servers validate all the transactions just by staking the EcoDollar cryptocurrency from their respective wallets. The “staking” model doesn’t require the use of high-end hardware.
The EcoDollar blockchain system also employs the MasterNode mechanism wherein MasterNodes servers can validate their transactions. Just like other normal servers, MasterNodes servers are full nodes that support the blockchain by hosting an entire copy of the coin’s ledger. Thus, MasterNodes have a higher responsibility for the normal servers for the overall security and functioning of the blockchain.
However, hosting an EcoDollar MasterNode requires you to stake a minimum of 100,000 EcoDollar cryptocurrencies. Every month, the system distributes around 100,000 EcoDollars as rewards to the MasterNode owners.
The EcoDollar MasterNode Voting System allows community members to make critical decisions through the voting process.
The price of the EcoDollar cryptocurrency fluctuates as per the economics of demand and supply. All transactions and balances on the EcoDollar blockchain are stored securely on servers scattered at different geographic locations worldwide. Some of the key features of the EcoDollar cryptocurrency are:
- All transactions happen directly between the issuer and the recipient without any third-party interference.
- Transactions times are less than one minute on average and thus EcoDollar becomes an ideal cryptocurrency for daily use across different merchant locations.
- The records of transactions stored on the EcoDollar blockchain do not disclose personal information of the wallet holder.
EcoDollar’s Greener Planet Initiative And Reserves
The primary objective behind creating the EcoDollar platform is its Greener Planet Initiative that aims to protect the environment and acquire more green land across the globe.
The EcoDollar blockchain and its cryptocurrency are completely supported and backed by the value of this biodiverse land properties acquired and maintained worldwide.
The developers say that 75% of the proceeds of the initial supply of 100,000 million EcoDollar cryptocurrencies will go towards its Greener Planet Reserve initiative.
The Greener Planet Initiative represents a set of principles and actions that represent all the work done by the EcoDollar community. The EcoDollar community is working with a vision to create a green planet over the next 30 years.
Under this initiative, the platform aims to promote and adopt environmental programs and policies by funding environmental organizations worldwide in EcoDollars.
Besides, the platform also plans to use its funds in educating schools for teaching economic sustainable development by balancing economic growth, environmental care and social well-being.
Part of the EcoDollar strategy is to work with Ecological Entities to provide a precise method for valuing green properties that will help conserve nature.
Under its Greener Planet Reserve, EcoDollar’s objective is to have a natural reserve comprising of millions of square meters of Bio-Diverse land distributed worldwide. The objective is to expand its land acquisition and protect it further promoting the preservation of flora, fauna, and other endangered ecosystems.
EcoDollar Regulations
The EcoDollar blockchain runs on servers distributed all across the world ensuring better decentralization and additional security to the platform. Besides, the EcoDollar ecosystem is designed in a way that it complies with the strict regulations of international organizations regulating digital currencies and other virtual digital assets.
The EcoDollar.org operates through different global locations by having respective licenses for operations according to the legislation of each country.
By following the guidelines of international organizations to regulate digital currencies, EcoDollar provides a very safe infrastructure to operate. Now, EcoDollar is expanding its borders across different crypto-friendly countries.
EcoDollar has assured its operational convenience by creating its framework wherein headquarters can be incorporated and dissolved as per the changes in the legislation in each country.
EcoDollar is a one-of-its-kind cryptocurrency that promotes sustainable economic growth along with its green expansion initiative for the future. It incorporates features of the latest cryptocurrency developments offering the benefits of decentralization.
EcoDollar is a one-of-its-kind cryptocurrency that promotes sustainable economic growth along with its green expansion initiative for the future. It incorporates features of the latest cryptocurrency developments offering the benefits of decentralization and at the same time following the right regulatory framework.
