Overview

Elementh provides all participants of e-commerce market with real-time and historical data on stock inventory and price.

Project stage

Beta version

Detailed description

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 [1] 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 [1] 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.

Problem

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.

Solution

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.

Features

The main advantages of Elementh:

  • Saleschain>
  • Unified product classification (including product-matching algorithms)
  • Real-time and historical data on stock inventory and price
  • Multi-industry orientation
  • Working business

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.

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Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : EEE
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 30,000 ETH
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :10,000 ETH
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :303,000,000 EEE
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :217,500,000 EEE
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :BTC, ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :Afghanistan, Canada, Central African Republic, China, Iceland, Iran, New Zealand, North Korea, Pakistan, Somalia, South Korea, South Sudan, Sudan, Syria, Taiwan, USA, Yemen,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    Immediate token disribution

    Unsold tokens

    All EEE Tokens unsold during the Token Sale shall be burned.

      • Token Distribution

          Vesting notes

          • Advisors: Vesing period of 6 months
          • Development team: Vesing period of 6 months
        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      ICO — Ended
      01 Apr 00:00 UTC
      30 Apr 22:00 UTC
      0.0002 ETH 15% - 30% - 10,000 ETH 30,000 ETH
      Pre-FUND — Ended
      15 Feb 00:00 UTC
      31 Mar 22:00 UTC
      0.0002 ETH 30% - Uncapped Uncapped
      Pre-ICO (private) — Ended
      01 Feb 00:00 UTC
      14 Feb 00:00 UTC
      0.0001 ETH No Min 1 ETH Uncapped Uncapped
      Pre-SALE (private) — Ended
      15 Jan 00:00 UTC
      31 Jan 00:00 UTC
      NA No Min 10 ETH Uncapped Uncapped
      ICO
      • First day BONUS: 30%;
      • Second day BONUS: 15%
      Read more about vesting and bonus
      • Team

        • Sergey Ryabov photo
          Sergey Ryabov
          CEO
        • Dmitriy Bereznitskiy photo
          Dmitriy Bereznitskiy
          CTO
        • Vitalii Mengeshev photo
          Vitalii Mengeshev
          COO
        • Kirillov Artem photo
          Kirillov Artem
          Blockchain Developer and Architect
        • Aleksandr Vasilev photo
          Aleksandr Vasilev
          Data Scientist
        • Sergey Morozov photo
          Sergey Morozov
          Blockchain Developer
        • Eugene Prigornitskiy photo
          Eugene Prigornitskiy
          Go Developer
        • Peter Gashitsky photo
          Peter Gashitsky
          UX/UI Designer
        • Alexander Kholodnykh photo
          Alexander Kholodnykh
          Backend Developer
        • Lubov Bruk photo
          Lubov Bruk
          PR manager
      • Advisors

        • Naveen Yannam
          Tech Advisor and early contributor
        • Proorocu Aurel George
          Marketing Advisor
        • Ilya Anikin
          ICO, Investment and Strategy Advisor
        • Michael Averbach
          Financial Advisor
        • Sergey Fradkov
          Legal Advisor

      Roadmap

      • 2012
        • MIIIX company establishment
        • Investments from RSV Venture Partners and business angels
      • 2014

        Number of product categories is 1000

      • 2016

        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)

      • 2017

        The transition to the blockchain technology with introduction of opensource project Elementh

      • January - April 2018
        • Pre-SALE (15.01 - 31.01)
        • Pre-ICO (01.02 - 14.02)
        • Pre-FUND (15.02 - 31.03)
        • ICO (01.04 - 30.04)
      • June 2018
        • Blockchain Basis Layer (Alpha)
        • EAS, ESCS(g), EIPC, EESN
      • August 2018
        • Blockchain Abstract Layer (v_0.1)
        • ESCS(u), EOTS, ESNS, EPS
      • October 2018
        • Blockchain Abstract Layer (v_0.2)
        • ESNS, EANS, EPCM, ESS (Test Net)
      • December 2018

        Wallets and Blockchain explorer (Release)

      • February 2019

        API

      • March 2019
        • Master Nodes
        • DAPPs

      Activity