Earth coin

Answered at Sep 27, 2024

Earth Coin: A Cryptocurrency with Environmental Aspirations

Introduction

Earth Coin (EAC) is a cryptocurrency that emerged in the altcoin market on December 20, 2013, in Toronto, Canada. As a digital asset based on the scrypt algorithm, Earth Coin positions itself as a global currency with a focus on sustainable and equitable development.

Technical Specifications

Earth Coin operates on a unique model that incorporates lunar cycles into its mining process:

  • Total supply: 13.5 billion coins
  • Cycle duration: 365 days
  • Initial block reward: 10,000 coins
  • Sinusoidal variation: 2,000 coin amplitude
  • Special payouts: 2x on full moon days, 5x monthly

The coin's mining algorithm adjusts block rewards throughout the year, peaking at 12,000 coins per block in March and dropping to 8,000 coins after nine months before returning to 10,000 coins at the cycle's end.

Market Performance

As of the latest data:

  • Current price: $0.00027
  • Market cap: $3.20 million
  • 24-hour trading volume: $42.66
  • Circulating supply: 11.88 billion EAC

Earth Coin reached its all-time high of $0.006372 on December 31, 2013, and its all-time low of $0.000001546 on May 23, 2019. The coin has shown significant volatility, with its best-performing year being 2019, when it saw a 640.15% increase.

Mission and Vision

Earth Coin's mission revolves around three core principles:

  1. People-centric approach
  2. Environmental sustainability
  3. Freedom

The project aims to become a pure trade-based cryptocurrency while offering investment opportunities to the public. Earth Coin's blockchain technology features network storage capabilities for research data on various earth resources, including forests, fresh water, land, fossil fuels, biological species, and minerals.

Wallet and Technology

The Earth Coin wallet is a software application that allows users to store, send, and receive EAC. Key features include:

  • Open-source transparency
  • Enhanced security and privacy measures
  • Compatibility with computers and smartphones

The wallet utilizes public addresses rather than account numbers on its blockchain, giving users control over their private keys and hosting a full copy of the ledger.

Challenges and Considerations

Like many cryptocurrencies, Earth Coin faces several challenges:

  1. Lack of consensus on definition and operational standards
  2. Absence of traditional financial institution involvement
  3. Ongoing development needs
  4. Potential economic impact uncertainties

The decentralized nature of Earth Coin, while a feature, also presents challenges in terms of government and central bank acceptance.

Market Position

Earth Coin is one of approximately 4,000 cryptocurrencies in existence, making up a portion of the altcoin market. With over 21 mining pools and 10 online platforms supporting EAC, the coin has maintained a presence in the crypto ecosystem for nearly eight years.

Future Outlook

While Earth Coin has ambitious goals related to environmental sustainability and resource quantification, its future remains uncertain. The cryptocurrency market is highly volatile, and Earth Coin's success will depend on factors such as:

  • Adoption rates
  • Technological advancements
  • Regulatory environment
  • Competition from other environmentally-focused cryptocurrencies

Conclusion

Earth Coin represents an interesting intersection of cryptocurrency technology and environmental concerns. While it has maintained a presence in the market since 2013, its relatively low market cap and price suggest it remains a niche player in the broader cryptocurrency landscape. Investors and enthusiasts interested in Earth Coin should conduct thorough research and consider the high-risk nature of cryptocurrency investments before engaging with EAC.

Note: This report is based on information available as of September 27, 2024, and cryptocurrency markets can change rapidly. Always conduct up-to-date research before making investment decisions.