ECOChain, a decentralized ecological public chain, implements a unique parts policy
ECOChain, known as a decentralized public chain, has landed smoothly in the Korean market.
ECOChain officially formed a Korean community last month and entered the first large-scale Korean market.
ECOChain is a lightweight, fast and eco-friendly, unlicensed public chain that is truly decentralized. The chain has a short block creation time (32 seconds) and provides a high on-chain transaction per second (560 TpS). In the case of smart contracts, Ethereum Virtual Machines (EVM), a language well known to blockchain developers, is running, making it easy for blockchain developers.
The main task of the ECOChain is to develop a global community, and the first is to focus on building Korean communities and brands. EcoChain has a slightly different coin policy than other projects.
ECOC’s own token, ECOC, is based on existing macroeconomic rules such as the quantity theory of money and the price stiffness rate. The reason why the price of a coin decreases appears when the distribution volume increases at a higher rate than the usefulness of the coin, and the EcoChain team explains that it can be stabilized by achieving the balance of the coin quantity.
In order to determine such stable and correct monetary policy, the EcoChain team will: (1) response time of monetary policy until the goal is achieved, (2) speed of money (circulation rate of coins), (3) result of expected rules, Consider the factors.
The final goal of ECOC’s official policy is price stability, and it is difficult to regulate based on the market in the early stages, so to achieve the desired goal △ Handle PoS consensus staking rewards in the official account △ Change the amount of money in circulation Intervention △To purchase or sell directly from the exchange, a total of three currency control measures are used.
Each of the above factors has a different degree of influence on the price and stability of the coin. The first is long-term because it sets the expectation for the final total flow of coins, the second is the medium quantity, and it forms the expectation as the volume changes, and finally, because the price can be changed immediately and move to the desired stable point. This is the most immediate way.
The ECOChain team will directly intervene in ECOC’s monetary policy to stabilize prices, and the final cap of the coin will be regulated by incineration.
An eco-chain official said, “In the future development of the economic market system, ECOC aimed to fully explore the advantages of the blockchain and reconstitute the new economic ecosystem by utilizing the traditional economic market system.”
“With ECOC’s price stabilization, we can achieve an eco-chain that is reliable, fast, economical, and friendly, and at the same time, more people can realize healthy and reliable market development and incentives.”
Meanwhile, EcoChain recently announced the results of research in the blockchain decentralized Oracle field, and its token, ECOC, is listed on the global exchanges MXC and Boboo exchanges.
If you want to know more about ECOChain, please visit:
◾️ website https://ecoc.io
◾️ Official Telegram (ECOChain) https://t.me/EC0Chain
◾️ Facebook https://www.facebook.com/EcocBlockchain
◾️ Twitter https://twitter.com/EcocBlockchain
◾️ Coin Market Cap https://coinmarketcap.com/currencies/ecochain/
◾️ Coin Gecko https://www.coingecko.com/en/coins/ecochain
◾️ GitHub https://github.com/ECO-chain/
