Possibly the largest single factor currently holding cryptocurrencies back from mass adoption is their difficulty of use for the average person. While Bitcoin and Ethereum both provide the ability to transfer value quickly and securely without borders, they both suffer from a steep learning curve, which limits interest from merchants, consumers and payment providers, and restricts growth of their platforms. EROSCOIN is setting out to create a new blockchain that is very significantly differentiated from other existing cryptocurrencies, giving the industry a payment solution that can help to expand the ecosystem and expand user adoption.
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The team believes that by adding additional security and ease-of-use, they will grow confidence in the use of peer-to-peer transactions, helping merchants and businesses get accustomed to running transactions on the blockchain. To this end, they are launching an ICO for ERO tokens, and are accepting BTC, ETH, and LTC as means of contribution. In the end, there will be a total supply of 240 million ERO tokens, with 50% being offered in the ICO.
EROSCOIN has also established the EROS foundation, which is currently slated to receive 20% of the total coin supply and will be ultimately be responsible for the development of the platform. The remainder of all issued tokens will then be distributed to advisory and escrow (9%), a reserve fund (10%), charity (10%) and bounties (1%).
All of the features that EROSCOIN plans to add to their blockchain are detailed in their whitepaper’s extensive roadmap, which is informative for any investor considering this asset. First, they will develop an “in-chat instant payment feature,” which allows users to send and receive payments through self-regulated smart contracts. This has the significant advantage of letting users disregard receiver addresses, a major stumbling block for newer crytpocurrency users, and should allow the project to compete with other established currencies such as Status.IM and DASH, which are also developing similar capabilities.
Another major feature under development is micropayment services, in which fees can approach zero. This will allow third-parties to develop their own micro-payment services which can be integrated into the platform. Additionally, the team has outlined the development of light web-wallets and mobile wallets, as well as mobile payment integrations.
The first phase of the EROS ICO will offer a 25% bonus to investors who contribute on the 1st and 2nd day of the sale, with bonuses then decreasing by roughly 5% on a weekly basis. The sale will run over a month-long period. Interested investors are advised to check out the company’s white paper, which details their development roadmap and strategy.
