What is Einsteinium (EMC2)? A beginner’s guide in 360 words.


What? A non-profit crypto?

Einsteinium is likely the first “non-profit” most of us have encountered in crypto. A member of the Bitcoin family, closely resembling that clever niece or nephew and committed to the open source world, research, and development. Einsteinium hopes to “Fund the future with the future of currency” (Einsteinium Foundation, 2017).

So, it’s a “Foundation”?

The Einsteinium Foundation’s mission is to raise funds for scientific research. Their mining tax creates a pool that will provide grants to deserving applicants. Bill DeLisle wrote for CryptoSlate, “First launched in 2014, Einsteinium is a unique cryptocurrency that combines the standard p2p ambitions with a philanthropic underpinning that strives to fund scientific research through its platform (DeLisle, 2017).” Shawn Williams of The Motley Fool puts it “Einsteinium’s mission is to be a charitable fund for scientific, technological, educational, and blockchain-based studies. It uses a similar proof of work algorithm to that of Bitcoin, but is the very first research-focused nonprofit organization in the crypto market space (Williams, 2017).”

As I edit this, they just hit a list of 2017’s 3 currencies that had over 100,000% gains on ChillXSeven – at peak EMC2 was up 262,195%, YES, Two hundred sixty-two thousand, one hundred and ninety-five percent (ChillXSeven, 2017).

What is the total supply, really?

Originally, the coin supply was set at 299 million coins but, with revisions by the Foundation, there has been a 25% reduction in coins (technically, 55,075,320) from September (leaving 243,924,680) and the circulating supply is 216,219,090 at time of writing (Coin Market Cap, 2017), leaving something like 27,075,590 on reserve.

Why here, in the land of Moonghinis?

“Funding around the world for the ‘big ideas’ has fallen dramatically in recent years. There are no restrictions on which projects are eligible, but they must have science involved; working to push our understanding forward and striving to build us a better, safer and more stable future” says a quote on their About section (Einsteinium Foundation, 2017).

Science-y people making science-y things happen with the help of humans still believing in the human scientific endeavor. That’s pretty neat.

How can you buy EMC2?

You first need to buy Bitcoin or Ethereum on Coinbase and then transfer it over to your account at Cryptopia to exchange it for EMC2. If you get stuck or need help, send us a message through our Facebook page or use our contact page and someone on staff will walk you through the process.