Wed, 14 Nov 2018

Ellcrys Token Sale

Ellcrys Token Sale

Earn Coins for Contributing to Open Source Project

Review Project

Ellcrys Review

A community contract describes an entity that allows one or multiple collaborators build open source organizations offering software products and services such as a website, API, smart contract, packages, frameworks etc. Collaborators push and pull code to and from the network, perform governance functions by creating, approving proposals and receive compensation from the network. A community contract can be deployed to centralized cloud hosting platform if it is a web app/service or compiled and loaded on the network as a smart contract for processing transactions.

Ellcrys is on a mission to create an ecosystem where open source collaboration goes beyond offering contributions during free or leisure periods to one where collaborators can build open source enterprises that can be proftable, thus, enabling them to spend more time building great products and improving open source
ecosystem.

It is their believe that collaborators should be able to work on open source projects full-time, earn and live comfortably. To achieve this, Ellcrys offer a platform where contributing to open source is natively rewarded and various contribution models to allow open source contributors create revenue generating and sustainable projects. An ecosystem where open source is proftable to contributors will ultimately improve the quality of contributions and products.

Ellcrys’ goal as a network is not to become another decentralized network with the purpose of making centralisation irrelevant — Ellcrys is not anti-centralisation.Ellcrys leverages on blockchain technology to provide and enforce transparency between collaborators, node owners and the Ellcrys organization. Contributors can collaborate to build products meant for centralized systems or ones meant to be executed decentrally.

Ellcrys will actively work with centralized technologies and entities while enabling openness and transparency through blockchain technology

Ellcrys’ communities need a mechanism to reach agreement on topics or issues surrounding operations. Te model employed by Ellcrys is a Proposal/Approval Voting scheme where contributors create proposals and solicit approvals from other contributors. A proposal describes a type of predefned action that must be approved to by 2/3 of contributors. Ellcrys will support weighted membership where members of a community contract gain more voting powers based on the amount of stake they own.

Smart Contract

Ellcrys offers an environment for a community contract to execute arbitrary blockchain logic against transactions addressed to it.

Ellcrys smart contracts are upgradable, versioned codes loaded from a repository.Tey are repository-addressable; Tis means originating transactions must reference the community contract as opposed to directly referencing the smart contract.

Addressing a smart contract by its community contract address allows collaborators to upgrade it and still be able to access it with the same address. Originating transactions can force a previous version of a contract to be loaded and used by providing a reference to specifc versions. Ellcrys think the ability for smart contracts to be upgradable, especially in situations where a new feature needs to be included or a bug/vulnerability needs to be fxed without breaking existing, dependent services is very useful.

Ellcrys aims to allow the use of modern languages such as Javascript, Go, Ruby & Python for writing smart contracts. Contracts are executed in an isolated environment with a capped execution time — Tis means contracts are expected to produce an output before the execution time elapses or risk forced termination.

Applications may choose to implement expensive operations in an externally hosted community contract or break the operations into multiple transactions. If the execution limit is insufficient, the protocol can be updated. Te amount of fee incurred by a transaction will not be determined by computation but storage utilised and execution time.

Token Sale

Crowdsale Opening Date

01-02-2018

286 days ago

Crowdsale Closing Date

01-04-2018

227 days ago

Allocations

Team

Written By

Isuk
0x237706bfE11D4C4E148b4764c8f7Da37743657d4