Yes. Ellcrys is like the Assembly project which was on a mission to bring engineers, designers and creators from all over the world to create community-owned software products. A project that was ahead of its time. Ellcrys improves on Assembly, by providing an open, transparent and blockchain-backed environment for building software projects.
Seriously, nothing is wrong with Github and other similar git hosting platforms. Infact, we did not set out to build a decentralized version for the sake of making them obsolete. Ellcrys aim is to enable communities build software products transparent; Hosting repositories on Github would mean we had to become brokers between Github APIs and collaborators. This approach could expose projects to censorship by Ellcrys or Github.
Ellcrys |el-kris| is a blockchain network that will allow anyone in the world start, join or contribute to open source software products and receive compensation for their contributions. Users will be able to create decentralized Git repositories that are censorship resistant, highly available and can be truly owned by multiple persons. Repositories can include all kinds of codes for different purposes such as web services, smart contracts, mobile apps libraries/packages, frameworks etc.
KEY HIGHLIGHTS
Yes. Ellcrys is like the Assembly project which was on a mission to bring engineers, designers and creators from all over the world to create community-owned software products. A project that was ahead of its time. Ellcrys improves on Assembly, by providing an open, transparent and blockchain-backed environment for building software projects.
Seriously, nothing is wrong with Github and other similar git hosting platforms. Infact, we did not set out to build a decentralized version for the sake of making them obsolete. Ellcrys aim is to enable communities build software products transparent; Hosting repositories on Github would mean we had to become brokers between Github APIs and collaborators. This approach could expose projects to censorship by Ellcrys or Github.
Communities building open source software products where open, transparent governance is a requirement. Open source maintainers looking to earn revenue from paid branches and issues. Open source contributors interested in compensation when they contribute to an open source project.
Yes. We think incentivizing people to contribute to open source will really help to get people more interested in growing open source. The network will reward people with coins when their pull request is approved.
Like every blockchain out there, transactions require a small fee as a measure to reduce abuse. Pushing codes to the network will attract a fee. If your pull request is accepted, you get back your transaction fee and some additional coins.
Communities building open source software products where open, transparent governance is a requirement. Open source maintainers looking to earn revenue from paid branches and issues. Open source contributors interested in compensation when they contribute to an open source project.
Yes. We think incentivizing people to contribute to open source will really help to get people more interested in growing open source. The network will reward people with coins when their pull request is approved.
Like every blockchain out there, transactions require a small fee as a measure to reduce abuse. Pushing codes to the network will attract a fee. If your pull request is accepted, you get back your transaction fee and some additional coins.
Yes. Ellcrys' goal is to provide a platform where people can openly and collectively build things together and not to be opionated about how they should run their projects. We want to allow people build useful, multi-owner and highly accessible applications that may become startups and compete with global centralized organizations in features, scalability and technology.
Yes. We will be launching an official polyglot platform as well as recommending a standard for alternative platforms.
Collaborators will be able to develop and execute smart contracts which are trustless applications.
Apps will be able to store state on the blockchain or on database solutions provided by Ellcrys' add-on partners. Addon partners provide third-party services and bill repository accounts.
Yes. Ellcrys' goal is to provide a platform where people can openly and collectively build things together and not to be opionated about how they should run their projects. We want to allow people build useful, multi-owner and highly accessible applications that may become startups and compete with global centralized organizations in features, scalability and technology.
Yes. We will be launching an official polyglot platform as well as recommending a standard for alternative platforms.
Collaborators will be able to develop and execute smart contracts which are trustless applications.
Apps will be able to store state on the blockchain or on database solutions provided by Ellcrys' add-on partners. Addon partners provide third-party services and bill repository accounts.
Universal Node Reward is the standard, monthly reward awarded to nodes on the network for the resources they contribute. Only nodes with high availability will be eligible. UNR is necessary since Ellcrys does not share transaction fees with nodes, instead fees are transferred to the UNR account.
Ellcrys is based on delegated proof of stake consensus which allows a small number of validators process blocks quicker. This consensus method allows for faster block processing within a few seconds.
Universal Node Reward is the standard, monthly reward awarded to nodes on the network for the resources they contribute. Only nodes with high availability will be eligible. UNR is necessary since Ellcrys does not share transaction fees with nodes, instead fees are transferred to the UNR account.
Ellcrys is based on delegated proof of stake consensus which allows a small number of validators process blocks quicker. This consensus method allows for faster block processing within a few seconds.
Open source software has been instrumental to the success of many of the companies that add great value to our lives. Over 78% of companies today, use open source. Many of them use open source as part of a premium product while giving little or nothing back to the maintainers and community. Only a few open source projects attract corporate sponsorship and many others do not.
We believe maintainers and contributors of open source need to be properly incentivized to ensure continuous development and quality of projects. To that end, Ellcrys will allows open source projects the ability to create paid branches that attract a fee to fetch. Maintainers and contributors can benefit from paid issues created by users. Contributors will earn coins when their pull request is accepted by project’s community.
Individuals or businesses in need of ephemeral development team to build their software products without losing control of project source codes, communication history and bargaining power. Individual developers can earn coins when they complete work distributed by project owners.
Task-based pricing allows projects to sub-divide work into smaller tasks with varying compensation to be paid to implementers. Developers pick tasks, complete them and get paid the reward associated with the task.
Individuals or businesses in need of ephemeral development team to build their software products without losing control of project source codes, communication history and bargaining power. Individual developers can earn coins when they complete work distributed by project owners.
Task-based pricing allows projects to sub-divide work into smaller tasks with varying compensation to be paid to implementers. Developers pick tasks, complete them and get paid the reward associated with the task.
Your banknote will be invalidated on Ellcrys. Why you will still be able to spend your physical notes as usual, you or anybody in possession of the scanned banknote will never be able to access more value on Ellcrys.
You will be able to do this using any mobile wallet application that is able to access the Ellcrys network.
The amount of ELL you receive will be determined by an exchange function run by every node on the network. The function takes into account the amount, estimated number of scanners and time.
We will support an initial set of currencies (and denominations) consisting of the top 30 largest economies of the world. Subsequent network upgrades will add support for more sets of currencies.
Every node on the network will include machine learning backed measures to detect invalid banknotes. Banknotes deemed valid will be sent to off-chain validators who manually validate and stake money on their results. A banknote is considered valid if majority off-chain validators approves.
Anyone with a wallet application that implements the validation protocol will be able to stake, validate and earn some ELL.
Your banknote will be invalidated on Ellcrys. Why you will still be able to spend your physical notes as usual, you or anybody in possession of the scanned banknote will never be able to access more value on Ellcrys.
You will be able to do this using any mobile wallet application that is able to access the Ellcrys network.
The amount of ELL you receive will be determined by an exchange function run by every node on the network. The function takes into account the amount, estimated number of scanners and time.
We will support an initial set of currencies (and denominations) consisting of the top 30 largest economies of the world. Subsequent network upgrades will add support for more sets of currencies.
Every node on the network will include machine learning backed measures to detect invalid banknotes. Banknotes deemed valid will be sent to off-chain validators who manually validate and stake money on their results. A banknote is considered valid if majority off-chain validators approves.
Anyone with a wallet application that implements the validation protocol will be able to stake, validate and earn some ELL.
Ellcrys is a decentralized version control system for building open source software and services. Ellcrys builds on git by decentralizing repository objects across nodes on a blockchain network allowing people across the world to collectively build software products.
Ellcrys will be based on Delegated Proof of Stake
Apart from reward given to block forgers, Ellcrys introduces Universal Node Reward (UNR) for compensating node operators. UNR is a monthly reward sent to nodes who have achieved a certain availability level for a month. The minimum reward is 1ȅ (90% availability) and maximum ȅ5 (99.999% availability).
A community contract describes an open software project owned by many people across the world and govern by the Ellcrys blockchain. It includes a decentralized git repository, a balance account and can be decentrally admistered using governance tools provided by Ellcrys.
Yes. Developers will be able to build smart contract applications on a git branch, load and process transactions.
Yes. A repository (or community contract) can contain code for a website app or service which can be deployed to any centralized hosting service that supports the Ellcrys Hosting Protocol. The protocol will allow hosting companies configure, deploy and bill your repository. Ellcrys official hosting service will also prevent developers from having any access to the running app instances.
To encourage contribution to open source, a developer contributing to a project on the network will be rewarded with Ellies each time their pull requests are accepted by a project's community. How much Ellies they are rewarded with will be determined by factors such as their rank on the network, the project and communities rank and more. Developers can also take up outsourced tasks, complete it and receive Ellies or stake reward. Stake reward gives you a share of any payment received by a project.
Ellcrys will offer maintainers the ability to create paid branches; Maintainers simply push features to a branch, set a fetch price and get Ellies when fetched by anyone. Paid branches may be configured to become free after a period of time. They can also provide solutions to priority or paid issues created by users and addressed to them.
This information will be revealed after the ICO.
Upto 30% bonuses in the first week and 5% in the last 4 weeks.
Yes. ERC20 tokens will be issued after the ICO. However, they will be swapped in a 1:1 ratio for the main network coins after launch.
No.
Your unique Ethereum and Bitcoin addresses can be found on the Transactions page of the contribution software.
Ellcrys native currency is called "Ell" (plural: Ellies). It is created through a process where people around the world send their national banknotes to the network and have it analyzed, verified, indexed and exchanged for Ellies. This process is referred to as "minting" (not mining).
Banknote verification is a two stage process. The first stage involves identification, extraction of features and construction of a unique fingerprint. This stage is executed by network nodes. The second stage is crowd-sourced verification; Users across the world stake Ellies to assert the correctness of a banknote and the features derived from the first stage. Users who failed to correctly validate a banknote forfeit their stake to users who validated correctly. User who validated correctly are award the forfeited stake of those who failed to validate correctly and collectively share 25% of the generated Ell. Correctness is determined by majority vote.
There will be a network life time supply of 10 000 000 000 (ten billion) Ellies. This initial supply will be distributed to company, Universal Node Reward account, fundraising participants, minting account and open source contributors over time.
Ellies will continue to be minted till the minting account is depleted. The rate of depletion is determined by the Exchange Algorithm. The exchange algorithm determines how much ellies are awarded for a banknote. It is designed to allow millions of people scan banknotes without inflating already circulating Ellies.
A quantum token signature transaction is an off-chain transaction inspired by the Quantum Tokens for Digital Signatures proposed by Shalev Ben-David and Or Sattath. This type of transaction allows Ellcrys to handle thousands of transactions per second. Users can send quantum tokens or sign transactions off-chain and send to anyone using external communication channels making way for traceless transactions.