Have You Heard of Einsteinium?
Cryptocurrency comes in many shapes, sizes and forms which meant that a few years ago while ghost-writing a crypto book I decided to go on a bit of a hunt for crypto projects that do things a little differently. During my research I stumbled upon a cryptocurrency called Einsteinium which is named after the famous scientist Albert Einstein and uses the E=MC2 formula for its coin handle on exchanges (EMC2).
What is Einsteinium and why did it catch my attention?
Einsteinium the Currency
Like many cryptocurrencies, Einsteinium has a platform and message that it carries into the crypto world and beyond. Unlike most cryptocurrencies that, let’s face it, exist in order to facilitate wealth creation, Einsteinium has a platform that is dedicated to scientific development… as well as the aforementioned wealth creation.
As the currency and market share of Einsteinium grows, the developers select and fund scientific projects, using the wealth of the coin to donate generously to various causes.
Einsteinium is a Charity?
This all sounds a bit like a charity or a not-for-profit organisation and in a way, it is. In fact, Einsteinium claim to be exactly that, a not-for-profit organisation. Whether they function fully as an NPO is a little vague and the claims of transparency from developers is marred by the fact that there really isn’t much disclosed by the EMC2 foundation about their accounts.
All we really know is that, so far, they have donated 16 million EMC2 coins to scientific causes which is about $960,000 by today’s coin price.
Despite the transparency issues, there are many things that make Einsteinium great;
- They have created a long-term plan with built in inflation rates to future proof the currency and ensure complete global scalability.
- 2% of the total mined coins will be donated to scientific projects.
- The value of Einsteinium is slowly but surely creeping up and, providing the development team market the coin well, it could rise significantly in value.
Can I Buy Einsteinium on Exchanges?
The answer is yes – and no. It is available on some exchanges but not all exchanges and unfortunately pricing of the coin is not only volatile, it varies wildly between exchanges. This means the developers need to work closely with exchanges to create a more uniform pricing structure and also ensure that the coin is represented better on exchanges.
You would be mistaken for thinking EMC2 was a newcomer. It isn’t, yet the development team haven’t been able to penetrate the open crypto market in the way that other much fresher coins have. That is a terrible shame, especially as the coin represents a very good cause.
The Future of Einsteinium?
Like many cryptocurrencies, Einsteinium has a long way to go before it can be considered even a relative success. The almost $1 million donated so far shouldn’t be sniffed at but by the same measure, the blue paper set out a far more ambitious plan with complete global penetration, something that seems a million years away at the moment rather than the fifty years they envisioned.