Einsteinium (EMC2) is a community-driven cryptocurrency that leverages blockchain technology to raise capital for scientific research.
This is accomplished through a mining tax that creates a pool of funds to provide grants to deserving applicants. Mined blocks will make a compulsory 2.5% donation to the Einsteinium Foundation’s fund and the community will vote on which scientific project to fund. With the integration of crowdfunding into the process, the Einsteinium Foundation aims to raise awareness for myriad projects and causes. To date, the Foundation has reportedly contributed 16M of EMC2 coins for science projects.
EMC2 is a Scrypt coin that uses the Kimoto gravity well with a 50% block reduction and a 60 second block time to democratize the mining process. The EMC2 coin supports wallets for Windows, Mac, and Android.
How do I buy cryptocurrency?
While some cryptocurrencies, including bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoin or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as bitcoin or ethereum.
Coinbase is one popular cryptocurrency trading exchange where you can create both a wallet and buy and sell bitcoin and other cryptocurrencies.