ETERNALCOIN - A decentralized consulting platform for IEO

Hello, meet again with me Samuraijin, I will write an article about the crypto project called Eternalcoin. For more details, I will discuss it below

The gaming industry is worldwide and huge. It is a very wide platform where billions of gamers and millions of developers interacting. Yet, there appear to be some aws in the traditional system, which has made this interaction to be inecient. There is a need for players to own their assets as well as collaborate and communicate. Game developers even tend to face the challenge of high fees from marketplaces and high costs of acquiring users.

Eternal Inc Network decentralized ecosystem helps to solve these problems. Eternal Inc is designed to change the way online card gaming industry operates through the use of the programmable logic of smart contracts, the immutability of Blockchain ledger and high speed of transactions with the aid of the Blockchain technology.

What is Eternalcoin ?

Eternalcoin (EIS) is the ERC20 based token to be used in connection with the Eternal Inc Network. EIS serves for both trading cards as well as participating in tournaments. With the introduction of EIS on the existing Eternal Wars platform, we intend to oer virtual goods on the Blockchain, mitigate fraud and high fees as well as create an innovative gaming experience with real value.

About Eternal Wars

Eternal Inc’s rst game is called Eternal Wars. The brainchild of Saul Syed, an avid gamer himself, Eternal Wars is based on the popular Japanese Gacha theme. The original idea for the game was created in 2012. However, it took several years before the game came into fruition. This was due to the fact nding the right team, via outsourcing and freelancers, to create the idea was proving dicult. In 2015 Saul decided to bring all the work in-house. Firstly, hiring sta in South Africa for creating the initial assets required and then sourcing programmers to bring everything together in the UK. This allowed him to oversee every aspect of the game, from the algorithm to the functionality of each action and event.

Eternal Wars is a fully-functional cross platform card game, which was released on March 2017 with currently over 10000 downloads both on iOS and Android. Eternal Wars is a trading card game (TCG) in a mythical fantasy universe that features online live multiplayer faction battles (PvP). This multiplayer TCG game will allow you to manage and create your deck, battle with your deck, play games online, participate in Arena PvP and much more.

• Name: EIS Token
• Type: ERC20
• Symbol: EIS
• Total Issue: 500,000,000 EIS

Problem

The Problem of Fraud
Authenticity of cards isn’t known. Based on estimations, for each legitimate virtual purchase made, about 7.5% virtual items are lost to fraud , . It is a common knowledge that assets stored and managed online are often exposed to manipulation or chargebacks. This means that merchants have to deal with extra burdens, and scammers damage the game's reputation.

The Problem of License
Gamers do not own the cards, only the license to use them. Virtual items are basically just licensed to the gamers, and these items are often only available for use on the proprietary platforms. In fact, they can even be manipulated, lost, or reverted with little recourse for the users.

The Problem of Liquidity
Cards can’t be easily sold or traded with little or no recourse for the users. The Problem of Constant Spending, High Cost and Slow Transaction Spend to keep up with new expansions. Developing a platform for managing virtual goods is often time-consuming and costly. Developers pay 30% to platforms. Game publishers and communities depend on third-party platforms for the processing of virtual goods transactions. Gamers often experience opaque fund ow, slowness, and high transaction fees7

The Problem of Centralization
Economic benets are not going to players. Virtual items and digital currencies are usually locked to a single game, and are non-transferable. Also, if a player becomes banned, they can easily lose all their items and currency.

Eternal Inc Solutions

Ownership
We are oering the gamers an opportunity to own their assets on the Blockchain. This means that players can earn and own cards by holding EIS.

Immutability
The nature of Blockchain makes records to be easily identiable without any form of manipulation.

Card Exchange
We are creating a user-friendly market; where users with EIS can buy and sell cards

Decentralized
As a Blockchain-based system, centralization will be eradicated.

Smart Contracts
As earlier stated, the Eternalcoin is based on ERC20 tokens on the Ethereum network, which is known as the most widely supported smart contract Blockchain, with a massive development community and vast language support. We strongly believe it has a strong future in game development and in creating the new decentralized internet, and this is why we are deploying it for our token.

Our aim is to create smart contracts with a decentralized name/value store directly into the Blockchain. These smart contracts will store everything from a players’ data, any virtual assets they may own and their inventory.

The basic functions of smart contract on our platform include the following:

Token Sale

ICO & sale

• Start: May 10, 2018 (10:00 AM GMT)
• Number of tokens for sale: 9,789,000 EIS
• End: May 16, 2018 (11:00 AM GMT)
• Min. transaction amount: 1 ETH/ 1 BTC/ 1 LTC
• Accepted currencies: ETH, BTC, LTC
• Max. transaction amount: N/A
• Exchange rate of tokens: 1 ETH = 500 EIS
• Max. amount collected: 21,000 ETH

What is IEO?
An Initial Exchange Oering, as its name suggests, is conducted on the platform of a cryptocurrency exchange. Contrary to Initial Coin Oerings (ICOs), an IEO is administered by a crypto exchange on behalf of the start-up that seeks to raise funds with its newly issued tokens.

As the token sale is conducted on the exchange’s platform, token issuers have to pay a listing fee along with a percentage of the tokens sold during the IEO.

In return, the tokens of the crypto start-ups are sold on the exchange’s platforms, and their coins are listed after the IEO is over. As the cryptocurrency exchange takes a percentage of the tokens sold by the start-up, the exchange is incentivized to help with the token issuer’s marketing operations IEO participants do not send contributions to a smart contract, such as governs an ICO. Instead, they have to create an account on the exchange’s platform where the IEO is conducted. The contributors then fund their exchange wallets with coins and use those funds to buy the fundraising company’s tokens.

Distribution of released tokens

• 65% The main phase of selling tokens
• 25% Bonus fund
• 4% The project team
• 4% Partners & consultants
• 2% Bounties

Use of funds

• 30% Game development
• 30% Art and animation
• 25% PR and marketing
• 10% Technical development
• 5% Other expenses

Roadmap

If you want to know more about the Eternalcoin project you can visit the link below, Enough for my writing this time which only discusses some important points of this project, for more information please visit the link below

Website: http://eternalinc.co.uk/
Whitepaper: https://drive.google.com/file/d/1-iXRyhBJUjZgozkyj8tTiDceBnyOp948/view
Facebook: https://www.facebook.com/eternalcoin/
Telegram: https://t.me/EternalcoinIEO
ANN Thread: https://bitcointalk.org/index.php?topic=5143954.msg51079655#msg51079655

Author: samuraijin
Profile Bitcointalk Link: https://bitcointalk.org/index.php?action=profile;u=905398
ETH Address: 0x3f9bb3679f1B71F22d823992078244C87EF4D455