Elementh provides all participants of e-commerce market with real-time and historical data on stock inventory and price.
Our team’s story began five years ago when Russian enthusiasts Sergey Ryabov (Elementh CEO) and Dmitriy Bereznitskiy (Elementh CTO) undertook one of the biggest challenges in the market: arranging to work with wholesale suppliers.
In 2012 they set up a number of online shops and found out that all suppliers sent their price lists in .xls format, with thousands of names of the same goods. Then they were faced with the nightmare of comparing the same items for days on end. Drawing on their significant experience in development, Sergey and Dmitriy decided to break this mould. Using machine learning algorithms, they solved the problem of matching price lists of various companies.
A year later, in 2013, the shops were sold to a partner. This allowed our team to concentrate on the development of new B2B project Miiix, and we achieved a new goal: the creation of a unified product classification that would become standard across the e-commerce market.
In 2017, the Miiix  project accepted SAP Hybris’ offer of partnership. Our product matching system is built on machine learning algorithms and has united over 200 enterprises and SMB clients. Have you heard of Sberbank-AST or Ulmart? We are proud to count them amongst our clients. When the company’s annual turnover exceeded $500,000, we were sure that it was time to enter the global market.
Therefore, in 2018, the company was rebranded from Miiix  to Elementh. Our team believed that the establishment of a non-profit foundation with access to a global system of product classification, based on the blockchain technology of storing the entire sales chain and the ability to create any centralized and decentralized applications upon the Elementh blockchain, would change the world of e-commerce.
The company’s mission remains unchanged: to make the e-commerce world better and simpler. To create a standard system, available for use by the entire e-commerce market in both B2C and B2B sectors. To combine all prices for all goods in one place. To create the unified product classification standard and a platform allowing for quick setup and scaling of e-commerce projects.
Product matching is a process that identifies whether any given group of products sold in different shops or obtained from different suppliers is one product or different products. Many people might think that every product has a UPC (universal product code), GTIN, MPN or ISBN. However, a professional in the e-commerce industry will tell you that a product very rarely has one of these codes. Even if the product does have one, a certain product offer on a certain online shop/supplier may not have a code. This makes product matching very complicated. Even if a UPC, EAN, GTIN, MPN or ISBN code is available, this data may be incorrect, which can lead to wrongful product grouping.
As a result, using only these codes for the solution to the problem is insufficient. Therefore, the fact is that no data source can be fully trusted. Different shops and different suppliers may have different titles, codes and sets of characteristics for the same products. In some cases this difference may be not especially significant, but in others product names may differ dramatically. Product images may be totally different or even inaccurate and brand names may be written in completely various ways.
We have a final classifier which constantly learns and makes a decision about match or mismatch based on historical labeled data. We analyze matches and mismatches flagged by our algorithm on a daily basis and tune a threshold to determine whether a pair of product offers are identical. Every day our algorithm processes a huge number of pairs of products. Nevertheless, we continue to improve our algorithms and metrics, although there remains a lot of work to be done.
The main advantages of Elementh:
Elementh provides everyone in the e-commerce market with real-time and historical data on stock inventory and price. It also allows users to create decentralized and centralized applications based on the Elementh blockchain. The decentralized nature of the Elementh blockchain allows customers to find the best deal and vendors to sell quicker.
All EEE Tokens unsold during the Token Sale shall be burned.
|Round||Token Price||Bonus||Min / Max Purchase||Soft Cap||Hard Cap|
01 Apr 00:00 UTC
30 Apr 22:00 UTC
|0.0002 ETH||15% - 30%||-||10,000 ETH||30,000 ETH|
15 Feb 00:00 UTC
31 Mar 22:00 UTC
Pre-ICO (private) —
01 Feb 00:00 UTC
14 Feb 00:00 UTC
|0.0001 ETH||No||Min 1 ETH||Uncapped||Uncapped|
Pre-SALE (private) —
15 Jan 00:00 UTC
31 Jan 00:00 UTC
|NA||No||Min 10 ETH||Uncapped||Uncapped|
Number of product categories is 1000
In the MIIIX database there are 70 mln SKU in 30,000 product categories, 1000 shops from different industries, clients from small shops to the largest portals in the field of e-commerce (Sberbank AST)
The transition to the blockchain technology with introduction of opensource project Elementh
Wallets and Blockchain explorer (Release)