Minggu, 01 Desember 2019

2Ether

A stable Ethereum fork with a suite of intuitive free tools for

launching infrastructure projects and implementing digital payments

What Is 2Ether?

2Ether is a new digital coin based on the Ethereum blockchain. Unlike ERC20 tokens, it’s a fully independent cryptocurrency – with its own blockchain, mining incentives, and so forth. It fully supports smart contracts written in Solidity and is compatible with Ethereum dApps.

Mission

We aim to select the best of community ideas and bring them to life, building a framework where miners, developers, and the most promising infrastructure projects can thrive.

What’s special about 2Ether?

By using novel data analysis algorithms, we gather the best insights, improvement proposals, and startups. Thanks to 2Ether, you can launch an IEO and get funding for your idea in just two days.

The team of 2Ether has several main objectives

  • Encourage independent CPU/GPU miners and protect them from the dominance of mining farms that use ASIC hardware. This is particularly important now that block rewards in Ethereum have been cut by a third, and market prices are still quite low. Ethereum mining stopped being profitable, pushing small miners out of the market. We realize that inflation can be a problem for any cryptocurrency, so rewards should be reduced with time. But it’s not correct that ASIC farms survive in any market conditions thanks to their economy of scale, while GPU miners suffer. 2Ether solves this problem thanks to its innovative system of dynamic block rewards. The base reward is slowly reduced with time. At the same time, it’s dynamically adjusted for current price. Finally, miners with a low hashrate receive an additional increase.
  • Provide dApp developers with an affordable audit tool. Smart contract audit is very important, as it helps protect investors’ funds. Unfortunately, blockchain security firms charge very high fees even for the simplest audit, and many of these firms don’t render quality services. On 2Ether, projects can apply for free audit – a combination of automated testing and manual reporting, done by specially vetted members of the community. There’s also full paid audit with line-by-line code analysis and multiple reports. 
  • Create an IEO platform integrated with a decentralized exchange and the audit system. IEOs are becoming very popular and will probably replace ICOs. They are much more secure, because projects are vetted by an exchange first. However, exchanges often charge hundreds of thousands of dollars for an ICO, without providing any guarantee of success. 2Ether will offer a decentralized IEO platform where the community does all the evaluation of projects, and all fees are distributed among users. It will be possible to arrange and launch an IEO in just a few days. The new token will be automatically listed on the 2Ether decentralized exchange. Before the IEO, projects can order a smart contract audit on the same platform.
These innovations will take some time to implement. The 2Ether coin will be launched on December 2, 2019 and at first will use the standard PoW mining algorithm with fixed rewards. Nine months into the project, the network will switch to dynamic reward calculation. The decentralized exchange and contract audit functionality will be launched soon after, followed by the IEO platform. 
To promote the project, 2Ether will hold a large-scale airdrop among Ethereum holders. After a snapshot of the Ethereum network on December 2, 2019, everyone who has any ETH in a personal wallet will be able to get 1 ET2 for each ETH they have. Since it’s an airdrop, users won’t be asked to send or exchange any ETH. ET2 coins will be sent automatically.

Challenges and solutions

2Ether doesn’t promise unrealistic processing speeds or an instant transfer to proof-of-stake and other tech that
doesn’t even exist yet. Instead, we offer solutions to real network problems and easy-to-implement use cases.

Problem

  • Block rewards for miners keep getting reduced
  • IEO fundraising is too expensive & unreliable
  • Available audit services have
  • a low quality/price ration
  • Most of raised funds are spent on listing, not development

Solution

  • Dynamic, mission-specific rewards
  • Automated IEO platform with immediate listing
  • Free crowdsourced and AI-powered smart contract audit
  • Built-in decentralized exchange with a near-zero listing fee

Innovative features

2Ether provides a convenient low-cost launchpad for promising startups and rewards all users who benefit the network.
Designed for use in real-world business
The key to-market strategy of 2Ether is to establish partnerships with global and regional crypto payment gateways and online businesses – eCommerce stores, gaming platforms, crowdfunding sites, and so forth.
Free audit of smart contracts
For a project preparing for an IEO, smart contract audit is a crucial step. An audit report proves to potential investors that their funds are safe. Unfortunately, blockchain agencies charge large sums for contract audit – and don’t always deliver a reliable result.
Full IEO Automation
Initial exchange offerings have replaced ICOs as the preferred way of fundraising. Unfortunately, it was quickly turned into an industry. Major exchanges charge hundreds of thousands of dollars to launch an IEO – and don’t provide any guarantee of success.

2Ether DEX

We’ve designed 2EtherDEX to have the best of both worlds. It offers fully automated on-chain order execution and bullet-proof
protection against hacker attacks.
2EtherDEX – take your decentralized trading to a new level
Unlike on centralized exchanges, on 2EtherDEX you never risk losing your money. At the same time, you get solid liquidity, fast order matching, and a range of analytical tools.
You can choose from 3 blockchains: Ethereum, EOS, and TRON, easily trading any token issued in these networks. No listing fees and no trading fees except for the standard blockchain network fee.

2Ether IEO Platform

For a couple of years in 2017-2018, it seemed like Initial Coin Offerings would be the answer to all the funding issues faced by startups. It was a fast, unregulated and cheap way of raising money – basically, a form of crowdfunding. From ICO projects in 2017, the number rose to 2018. The total amount of funds collected by ICOs in 2018 was enormous – over $. (It should be noted that $1.7 billion out of these were raised by Telegram’s blockchain project, TON). On average, an investor of a successful ICO earned 100-200% in profits. People who used to invest in the Forex markets or on crowdfunding platforms rapidly switched to blockchain projects. These investments were particularly attractive because any profit could be converted into Bitcoin or Ethereum and then stored or exchanged into fiat. This income was very easy to hide from the authorities, so investors didn’t have to worry about paying the capital gains tax.
But as the popularity of ICOs increased, it became clear that it’s far from a perfect investment tool. Many serious issues emerged, destroying investors’ trust in Initial Coin Offerings:
  • A very high percentage of fraudulent projects (more than 50%) – token holders had no legal recourse and no way of finding the conmen who disappeared with their money;
  • High costs – an ICO had to have a high budget (over $1 000 000) to attract investors’ attention in such a competitive market. As a result, many talented teams couldn’t afford an ICO;
  • Listing a token on a crypto exchange could be even more expensive than the ICO itself (over $1 mln on some exchanges);
  • Token dumps: a token’s price would rise sharply as soon as it was listed on an exchange, then fall even faster – usually below the ICO price. Those token holders who didn’t manage to dump their tokens at once suffered losses;
  • Project teams spent all their money and effort on marketing their ICO, ignoring product development. As a result, even successful ICOs usually didn’t release any product.

Advantages Of IEOs

An IEO is a new format of raising investments for blockchain projects – much more secure and structured. In this model, it’s not a project itself that organizes a token sale, but a crypto exchange. The project prepares a complete set of documentation and sometimes provides a prototype. The exchange verifies all the documents and the identities of the founders, analyzes the idea’s value, checks the project for legal compliance, etc. If everything is in order, the exchange will agree to hold an IEO for an established fee. It will then notify its customers about the upcoming tokensale.
Usually several rounds of an IEO are organized, and in many cases tokens sell out in minutes and even seconds. The exchange acts as a guarantor that the project is legitimate and all purchased tokens will be delivered. On the other hand, all token buyers are already registered on the exchange and have passed the KYC. So the project team doesn’t have to worry about verifying each buyer. Marketing expenses are much lower, too, because the exchange does some promotion among its audience.
Unfortunately, IEOs have their flaws, too:
  • Exchanges charge too much for an IEO – often more than $100 000;
  • An exchange can cancel an IEO but keep the fee, claiming that the project has violated some rules;
  • Success is not guaranteed: the exchange doesn’t have too much financial interest in promoting an IEO, because it will get its fee anyway.
  • The verification process (due diligence) is nowhere near as rigorous as it should be: smaller exchanges are happy to accept low-quality projects, because it’s a great source of revenue for them.

Details About The ET2 Token

  • Symbol: ET2
  • Blockchain: 2Ether (derived from Ethereum)
  • Decimals: 18
  • Mining algorithm: Proof-of-work with incentives for CPU/GPU miners
  • Average block time: 60 seconds
  • Block reward: first fixed at 5 ET2 per block, then dynamic starting from block 388 800 (around 9 months after launch)
  • Platform governance: decentralized
  • Maximum total supply: 18e14 ET2
  • Pre-mine: will correspond to the number of ETH owned by personal blockchain addresses, as revealed by the network snapshot on December 2, 2019, at 20:00 GMT. The amount will equal the total number of ether in circulation (up to 120 million ETH) – or roughly 0.0016% of the maximum total supply. An additional small number of coins will be pre-mined to reward bounty campaign members and to create a development fund for the project.
  • Distribution of pre-mined ET2: airdrop for Ethereum holders (95%), bounty (1%), reserve fund (4%).
  • Ethereum network snapshot date: December 2, 2019, at 20:00 GMT
  • Airdrop starting date: Airdrop terms and conditions: to receive free ET2 coins, it’s enough to hold ETH in any personal wallet, such as MEW, MetaMask, etc. On December 2, 2019, at 20:00 GMT, a snapshot of the whole Ethereum network will be taken to form a list of all private blockchain addresses holding any ether. These addresses will be eligible for the airdrop. Users who store ETH in exchange wallets will not receive ET2 unless they transfer their ether into a personal wallet shortly before the snapshot. For each ETH a user holds, 1 ET2 will be airdropped. It doesn’t mean any exchange or conversion, of course: the airdrop is completely free. By saying that one receives 1 ET2 for each ETH, it’s meant that the amount of ether in a wallet is used for calculation purposes only.

Roadmap

  • May-October 2019 – The project team was formed; development of the blockchain; working out the dynamic reward formula; analysis of the IEO and DEX market.
  • October 2019 – Work on the white paper and on the website; launching social media channels.
  • November 2019 – Start of the bounty campaign; completing work on the blockchain and coin; smart contract audit.
  • December 2019 – Snapshot of the Ethereum network and launch of 2Ether (December 2); large-scale airdrop of pre-mined ET2 tokens to Ethereum holders; bounty campaign continues.
  • January-March 2020 – Work on the decentralized exchange; attracting and verifying users who could evaluate projects and audit smart contracts.
  • April 2020 – Release of the decentralized exchange; testing the system for evaluating IEO projects; work on the dynamic block rewards mechanism.
  • May 2020 – Launch of free smart contract audit (target – at least 10 auditors on the platform); testnet for dynamic block rewards launched.
  • June 2020 – Final tests of dynamic block rewards; at least 20 auditors on the platform; 5+ smart contracts evaluated.
  • July 2020 – Block height of 388 800 reached and dynamic block rewards adjusted by block height are launched on the mainnet; at least 5 smart contracts are audited; testing the IEO platform.
  • August 2020 – the IEO platform is launched in the test mode for outside testers.
  • September 2020 – First IEO on the platform; adding the adjustment of block rewards by price.
  • October – December 2020 – A total of 20+ IEOs on the platform; introduction of reward incentives of CPU/GPU miners.
Author: KHAN SHIQ QHEIL
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