Elementh: A Brief Overview

What is Elementh?

Elementh intends to become the global infrastructure for e-commerce by utilizing blockchain technology to register ownership of goods, whilst allowing decentralized and centralized smart-contracts to be built on its platform. Elementh aims to digitize all goods, whilst providing a product card and ID for each item, allowing real-time and historical data on stock inventory and price to be publicity accessibly. In doing this, Elementh aims to create a unified product classification standard that will allow for quick development and expansion of e-commerce projects using its platform.

Just as Ethereum has established itself as the backbone for ICOs, Elementh hopes to become the pillars upon which e-commerce is built. Unlike many other smart-contract capable projects, Elementh will use a Turing complete programming language for its smart contracts and decentralized applications. By creating a unique ID for each product on its platform, Elementh will be able to effectively transfer ownership between individuals, whilst maintaining a transparent record of events, and connecting buyers and sellers under one trusted ecosystem.  

Token details and funding requirements

Elementh is based on the Ethereum blockchain, and uses the ERC-20 standard for its token, which will trade under the ticker ‘EEE’. The project launched its public token crowdsale on the 1^st of April 2018. Prior to the ICO, Elementh also had three smaller funding rounds, beginning 15/01, and ending 31/03. During its pre-ICO which ended March 31^st, Elementh offered a 30% bonus on token sales, with a base rate of 0.0002ETH/EEE. The ICO exchange rate is currently set at 0.0002ETH/EEE, with no bonus.

The EEE token itself will be used for all operations within the Elementh blockchain, similar to how Bitcoin is used for the Bitcoin blockchain. The project itself has a total supply of 303,000,000 tokens, with 195,000,000 of these being available as investor supply (token sale), whilst the remainder will be distributed to the team, partners and advisors. The ICO ends on April 30^th at 11:59 PM UTC, with a soft and hard cap of 10,000 and 30,000 ETH respectively.

How much potential does it have?

In our opinion, Elementh has fantastic value as a project, and a strong team behind it. The project has already partnered with several heavyweight projects, including Bancor, BitRewards and Sberbank illustrating the potential of the idea. With a team of 17 employees, with backgrounds in e-commerce, data science, and software development, the team is well positioned to develop a successful product.

Elementh aims to have its public wallet ready by the end of 2018, and its first decentralized applications ready three months later. (Source)

However, the team does appear to have little in the way of blockchain experience, having emerged mostly from the miix project. Of their team, only Sergey Morozov appears to have significant experience in blockchain. However, despite this critique, the project has garnered immense support and positive feedback from the community, even amassing one of the largest groups on Telegram with close to 30,000 members.

Unlike other e-commerce blockchain, Elementh has a MVP already developed prior to starting its ICO, indicating a strong technological lead to the competition. Furthermore, unlike, dare I say… most ICOs, Elementh isn’t just a recent concept. It has been in development for years, with the team carefully developing its product catalogue system prior to their integration with blockchain.

Our Rating;

Overall, we awarded this product with a 9/10 score. We believe that with the right guidance and community, Elementh has the potential to achieve great success in its intended space. However, the project is not entirely unique, as there are multiple other competing platforms looking to disrupt the e-commerce industry, including the similar projects VeChain and Connectius. Which platform ultimately wins out will likely come down to technical prowess and community support, but we know who we would put our money on.

To find out more information, please visit elementh.io

Check them out on twitter: https://twitter.com/ahooleeman

Join their Telegram community: https://t.me/elementh_community

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Wallet Address: 0x05CAbdFE623E127a034B19349180984E8bB051C5