...**ELLCRYS**....

WHAT IS ELLCRYS.

Ellcrys is a blockchain that allows people around the world to build open, community-owned software products

and democratic internet organizations. People from anywhere can offer their skills to an Ellcrys organization,

participate in decision making

processes, receive rewards for their

contributions and gain reputation within

the network.

THE PROBLEM.

Current web service providers limit

organization accounts to only support a

single owner who is granted unlimited

access to add and remove users and

manage the account and all resources.

We see this in services like Github,

Stripe, Heroku and thousands more.

This kind of account or organization

structure cannot work for future

decentralized organizations where

there may not be a single owner or

leader, no trust and no headquarters.

This is a fundamental issue that needs to

be solved before decentralized, effortcentric

internet organization is possible.

THE SOLUTION.

On Ellcrys, a git repository is the centre

of all collaborative endeavours. It is an

organization. By default, it is multiowned,

meaning there is no owner, no

leader, no need for trust and no

headquarter.

Anyone can fetch its content, push

contributions, verify and vote for pull

requests and other proposals.

A repository can receive payment for

service offered or a donation.

Contributors can collectively decide a

revenue sharing and management

model unique to a repository.

ALTERNATIVES.

COMPETITIVE ADVANTAGES.

Users can create censorshipresistant and highly available git repositories.
• Native coin reward for

collaboration when pull

requests are accepted.

• Revenue generation model for

maintainers and individual

developers via paid branches,

paid issues and paid tasks.

• Colony is predominantly

finance and government

centric. No way to measure

effort. Ellcrys is firstly effortcentric.

Effort is measurable

and trackable via pull

requests.
Assembly had too much control

over a project’s decisions, assets

and other processes. Ellcrys

completely democratises

ownership and governance

USE CASES.

Decentralized Git Hosting

Ellcrys can be used as a version control

system for software projects where

decentralized ownership is a requirement. In

the future, repositories of decentralized

businesses or protocols (like bitcoin,

ethereum) will be hosted on the Ellcrys

network.

Decentralized Autonomous.

Organizations

Communities can build decentralized, effort-centric

organisations around a git repository. These

organizations can work on mobile applications,

web apps/services, smart contracts, libraries etc.

Decisions are made through a proposal and

approval voting mechanism.

Software Outsourcing

Project owners can outsource their open

source projects to millions of independent

developers and be able to retain ownership

of their repositories, create and distribute

tasks and retain power to set price.

Individual developers can complete tasks

and earn rewards.

Paid Open Source Product

Maintainers of open source products can create

branches and set a price to be paid by people

who fetch the branches. Maintainer and individual

developers can also earn coin reward for fixing

paid software issues.

INTRODUCTION.

Ellcrys is on a mission to create a new kind of organization structure that does not only allow for trust-less, leader-less software collaboration, but one that allows open source communities create real, honest businesses that solves real-world problems. Organizations that can compete with todays

centrally administered businesses in terms of efficiency, scalability and impact. To achieve these goals, we will be relying on the ecosystem that will rise to support and grow the network.

PEOPLE.

The following are categories of people who are most important to sustaining the Ellcrys

ecosystem and ensuring it thrives.

PEOPLE

VALIDATORS.

Validators are network node

owners who contribute

computing resources to power

and secure the network. In turn,

they are rewarded with new

coins.

CONTRIBUTORS.

Contributors are

people who create,

manage and

contribute

work to a

repository

COIN HOLDERS / TRADERS.

Coin holders provide the coin liquidity required for

contributors and end-user to participate in Ellcrys economy.

Contributors and end-users purchase coins from traders

to gain access to the network.

BUSINESSES /SERVICE PROVIDERS

Service providers provide specific services tailored for Ellcrys organizations in

exchange for coins. Some examples of services include cloud hosting & database,

domain purchase & management, marketing and sales etc.

COIN.

The Ellcrys network, like Ethereum requires a digital asset to

work as a medium of exchange and to secure the network. This

section describes our native cryptocurrency.

NAME

Ell (plural: Ellies)

SYMBOL

ELL (ȅ)

DECIMALS

SMALLEST UNIT

0.00000001 (a.k.a chakra)

TOTAL SUPPLY

10 000 000 000 (10 billion)

MINING ALGORITHM

StackMint

UTILITY

- P2P Transactions

- Push Fee

- Fetch Fee (paid branch only)

- Network Consensus Skake

- Marketplace Transactions

MARKETPLACE.

Ellcrys marketplace is where service providers

showcase and sell their products and services to Ellcrys

organizations.

Although, Ellcrys organizations are decentralized, they

are still able to purchase services through purchase

proposals that gets approved by members.

All transactions will be paid using the native coin.

Some of the services to be available include but not

limited to:

- Web Hosting

- Managed Database

- Managed Marketing & Sales

- Business Registration

- Human Resource Management.

BLOCKCHAIN.

We are building a blockchain capable of storing git objects belonging to a

project. We are actively working and researching on various concepts and

technologies to ensure the Ellcrys platform is capable of handling thousands of transactions per second.

CONSENSUS ALGORITHM.

The Ellcrys blockchain will rely on a Proof of Stake based

consensus method. Delegated Proof of State is one of the

variations of PoS we are implementing.

OBJECT STORAGE Git objects will be immutably

stored on the Interplanetary File System (IPFS).

SHARDING.

The Ellcrys blockchain will be a multi-chain network capable of

handling thousands of transactions concurrently on

sub-blockchains.

SMART CONTRACT.

While the Ellcrys network is not primarily a smart contract

platform, it will be able to run smart contract applications

written in established languages.

STACKMINT.

New coins are introduced into the network through a process known as StackMint.

StackMint is one of the fairest method of global coin distribution in that it allows

anyone in the world to exchange national banknotes for new coins.

HOW IT WORKS.

Anyone in the world can take a photo of any supported banknote using a mobile phone.

Send the photos of banknotes to a network node for validation.

Node on network analyse banknotes and rejects invalid banknotes. A

fingerprint of an accepted banknote is computed and stored.

A second validation phase requires users to validate banknotes manually.

Users bet some coins and provide a validation result for a banknote. If their

result is wrong, they forfeit their stake, otherwise they keep their stake and

share in the newly created coin.

After validation and acceptance of the banknote, new coins are created and

shared between the owner of the banknote and the validators. The owner

of the banknote keeps the largest share.

UNIVERSAL NODE REWARD.

Current blockchain incentivise node operators through a system that rewards only the nodes that mine or forge blocks.

Often, these nodes are highly specialised, efficient and outcompete less powerful nodes.

This means less powerful nodes will get no reward even though they partake in ensuring the security of the system. Ellcrys is taking a different approach.

We introduce Universal Node Reward, a system that ensures all node are entitled to monthly rewards based on their network availability level.

Nodes that have been active for a full month get more coin reward than nodes that have be active for lesser periods. As a network where nodes store assets

belonging to repositories, it is unfair for only a handful of nodes to get coin

rewards when assets are equally and immutably replicated across all nodes.

TOKEN SALE.

To support continuous development of the Ellcrys project, we are having several token sale events designed for

private and public investors. Below is information about the rounds of token sale.