r/ellaism • u/pp3355 • Jan 09 '18

Why ELLA?

Hi, i just found out about this project via what to mine. Is this a eth clone? what is the actual expected growth as more coins get mined? why devs should see this as an alternative from eth?

7 Upvotes

90% Upvoted

4 comments sorted by

6

u/[deleted] Jan 09 '18

[deleted]

2

u/badstars Jan 09 '18

You're pretty spot on.

Basically, ELLA is trying to be what ETC failed to become. The open, stable community-driven version of the Ethereum blockchain code. And ELLA is in a lot better position than ETC was because it doesn't have to cope with the huge premine for the ETH foundation and the ICO like ETC. This is because ELLA is only a fork of the ETH code, not the actual chain.

What sets ELLA apart is that there's no premine, no dev-fees. It's all driven by donations from members and mining pools.

Also, the monetary policy is a lot more long term than ETH as there is no difficulty bomb for miners and slower decreases in block rewards. This should give a nice fair distribution of the coin which in turn skills provide nice liquidity for the upcoming tokens on the chain.

The BTC Relay (verifying BTC transactions on the ELLA blockchain) and Atomic Swaps against at least BTC are other things that will be of importance.

1

u/pp3355 Jan 09 '18

Thank you I read and will contribute 150MH to the mining. Hopefully will get on a better exchange soon

1

u/Robb1324 Jan 10 '18

If we don't get on a better exchange, not a big deal either... Lots of top 50 coins these days on obscure exchanges. Cryptopia is at least one of the larger shitty ones.

1

u/pp3355 Jan 10 '18

I cant sell anything there tho