Garrett Camp told about plans for the development of a token of Eco
Creation of its own cryptocurrency is reflected not only by the agencies of different countries but also by big businessmen. One of the last is the co-founder of the Uber service – Garrett Camp, who told about plans to develop his Eco token.
The main principle of Campo’s cryptocurrency is that it must be publicly available and used as a means of payment daily by millions of people around the world. At the same time, the entrepreneur has every chance to save his offspring from the mistakes and trials that Bitcoin and Ethereum faced in their time.
For the next couple of years, the release of 1 trillion Eco coins is planned. Garrett said that he is not going to conduct a token, arguing that this will save the project from a lot of legal nuances, with which dozens of ICO around the world are fighting daily.
Half of the issued tokens will be distributed among the first billion users. 20% will get tested nodes – partners, represented by universities and research centres. 10% of the coins will go to the fund itself Eco, in order to fully cover the transaction costs and grants issued by the company. Another 10% will be received by consultants and the most active investors, and the remaining interest will go to the accounts of strategic partners. This is stated in the Whitepaper project.
The entrepreneur is convinced that the more participants the system collect, the better, arguing that it does not pursue the goal of distributing the cryptocurrency between a small group of speculators. And for greater ease of use.
Eco employs exclusively proven partner sites for operations, which will save users from the production of anonymous transactions by third parties who have access to their wallets. In addition, the cryptocurrency will be extremely energy intensive. To run it does not need a lot of processing power and electricity, which means its production will be several times cheaper than other tokens for farm owners.
The test version of the network is planned to be launched before the end of this year, but users can now go through the registration process and “book” a certain number of coins.