Overview

Emotiq is a powerful, decentralized blockchain with Proof-of-Stake (PoS) consensus, scaling through sharding, and natural language smart contracts.

Project stage

Only a whitepaper

Detailed description

Emotiq is a public decentralized blockchain so anyone can join the network, become a validator, and earn rewards for maintaining it. Emotiq uses Proof-of-Stake (PoS) consensus, which is based on pBFT but adds strong consistency and enables all validators to agree on the validity of blocks without wasting computational power resolving inconsistencies. As a result, clients do not need to wait more than a few seconds to be certain that a submitted transaction is committed; as soon as it appears in the blockchain, the transaction can be considered confirmed.

Emotiq provides unlimited horizontal scaling and throughput of thousands of transactions per second through sharding, as well as a cross-shard commit protocol.

Emotiq uses Boneh-Lynn-Shacham pairingbased crypto. This enables short BLS signatures on public keys, as well as hierarchical deterministic wallets with all of the advantages promoted by BIP-32 but without the security risks

Problem

Scaling
Currently, Ethereum can handle 13 transactions per second (reduced to 7 transactions per second for tokens), which is orders of magnitude below that required for large-scale applications. Bitcoin, meanwhile, is capable of a diminutive 7 transactions per second. Though each is exploring their own scalability solutions, none are proven.

Privacy
A trustless environment and anonymity are similarly essential to the wider adoption and use of the blockchain. We have a natural desire to keep our finances and transactions private. Emotiq is inspired by Monero and ZeroCash to provide additional privacy solutions, for example, by keeping transaction amounts hidden.

Usability
Smart contracts are inaccessible for the majority of users. They’re difficult to use, hard to read, and impossible to write without the risk of introducing new security holes (as shown by the widely publicized hacks of Ethereum). It is impossible to understand the behavior of current smart contracts without using a computer to evaluate them. Legal contracts, in contrast, can be easily read and understood.

Solution

Scalable
Emotiq is the first next generation blockchain to implement OmniLedger technology, a product of groundbreaking research in distributed consensus and decentralized computing. It features high transaction throughput and horizontal scaling via sharding. This is in contrast to vertical scaling, which relies upon increasing the computing resources of individual nodes in the network. Together with OmniLedger and the parallel processing of unspent transaction outputs (UTXO), Emotiq is able to process thousands of transactions per second, at low cost and with an ever-expanding network of nodes.

Private
The blockchain has created a new trust paradigm – immutable, impervious to tampering, and without reliance on third-party intermediaries. The ability to transact securely, however, should not come at the price of confidentiality. By integrating zero-knowledge proofs, Emotiq ensures that only relevant data is visible on the blockchain, while confidential data is kept private.

Natural
Scalability and privacy, while essential, are not the toughest challenges of the blockchain. Its accessibility and usefulness are. With Ring, Emotiq’s natural language for smart contracts, non-programmers can easily create smart contracts to satisfy a wide range of agreements and applications and test them interactively. Ring compiles to a lower level Ring virtual machine (VM) which also runs most, if not all, smart contracts written in Ethereum Solidity. Ring is inspired by Zork – a classic interactive fiction computer game – and we intend Ring to be just as fun, exploratory, and open-ended.

Features

Emotiq scales to VISA-level throughput. It features an innovative approach to smart contracts through Ring, Emotiq’s natural, plain English smart contract language, as well as partial compatibility with Solidity to accommodate transitioning projects.

Emotiq will use its considerable expertise to pave a new path for blockchain technology, integrating research-backed technologies and actively tackling existing and future blockchain challenges. We, like many, are convinced the blockchain will change the world, and we’re committed to providing the platform to make that happen.

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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. : EMTQ
    • 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. : 39,000,000 USD
    • 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. : NA
    • 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. :1,000,000,000 EMTQ
    • 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. :510,250,000 EMTQ
    • 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. :Without whitelist
    • 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. :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. :USA,
    • 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

    Within 30-60 days after TGE.

    Unsold tokens

    Any tokens unsold after the private sales will be kept in reserve by Emotiq, to be used for future funding needs.

      • Token Distribution

          Vesting notes

          • Team: Will be locked up for 18 months

    Sale schedule

    Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
    Private sale Round 4 — Soon
    Start Soon
    NA No - Uncapped 23,500,000 EMTQ
    Private sale Round 3 — Active
    15 Jun 00:00 UTC
    0.13 USD No Min 100000 USD Uncapped 139,000,000 EMTQ
    Private sale Round 2 — Ended
    Start Soon
    NA No - Uncapped 60,000,000 EMTQ
    Private sale Round 1 — Ended
    Start Soon
    NA No - Uncapped 140,000,000 EMTQ
    Seed Round — Ended
    Start Soon
    NA No - Uncapped 150,000,000 EMTQ
    • Team

      • Joel Reymont photo
        Joel Reymont
        CEO
      • Vladimir Lebedev photo
        Vladimir Lebedev
        CEO
      • David McClain photo
        David McClain
        Chief Rocket Scientist
      • Shannon Spires photo
        Shannon Spires
        Agent Hacker
      • Paul Tarvydas photo
        Paul Tarvydas
        Electronics and Microprocessor Guru
      • Mark Evenson photo
        Mark Evenson
        Senior Software Architect
      • Luke Gorrie photo
        Luke Gorrie
        Networking Developer
      • Eugene Chupriyanov photo
        Eugene Chupriyanov
        Site Reliability Engineer
      • Karol Skocik photo
        Karol Skocik
        Senior Software Engineer
      • Ann  Soederblom photo
        Ann Soederblom
        Marketing Coordinator
      • Anna Movchaniuk photo
        Anna Movchaniuk
        PR Maven
      • Batyrkhan Zhaparov photo
        Batyrkhan Zhaparov
        English/Russian/Chinese Community Manager
      • Anca Dumitru photo
        Anca Dumitru
        Senior Writer and Editor
      • Wen Qiang photo
        Wen Qiang
        China Community Manager
      • Eric Yao photo
        Eric Yao
        In-house Writer
    • Advisors

    Roadmap

    • Q1 2018
      Private Sale

      Blockchain prototype:

      • Strongly consistent, public blockchain; PBFT atop collective
        signing (CoSi); open consensus
        group membership;

      Two parallel blockchains:

      • primary (keyblocks, Proof-of-Stake)
      • secondary (microblocks,
        transaction commits with
        collective signature)
      • UTXO model
      • Confidential transactions and
        privacy via Bulletproofs
      • Bias-resistant distributed randomness protocol
    • Q2 2018
      Public TGE

      Testnet:

      • All prototype features, plus
      • Delegated Proof-of-Stake (dPOS)
      • Real-time  trust-but-verify transaction validation

      Prototype applications:

      • Ring VM
      • Lisp smart contracts
      • UI console
    • Q3 2018

      Testnet improvements:

      • Sharding via bias-resistant
        distributed randomness protocol
      • Cross-shard commits
      • Enhance pBFT performance
        under Byzantine denial of service attacks
      • Blockchain checkpointing
        (state blocks) and compression

      Applications:

      • Ring (natural language) smart contracts
      • UI console with interactive contract simulator
    • Q4 2018
      Mainnet

      Further improvements:

      • MimbleWimble implementation, including secure purging of old and spent transactions
      • User-friendly UI for Ring and Emotiq development tools

    Activity