One of the co-founders of the well-known service, Uber, has announced his plans to launch his own cryptocurrency. He said that the digital currency he is planning to create will be convenient for daily use as a payment tool.
The release of one trillion Eco tokens is planned. Half of them will be distributed free of charge to the first billion users who will undergo the procedure of registration and verification in the network. Another 20% of the coins will be transferred to control the nodes. Strategic partners and advisers will receive 10% of each coin. Another 10% will be transferred to Eco Foundation, which will create the platform and support its operation.
Garret plans to allocate $10 million for operating expenses to the platform, having received these funds from his own venture fund. It should be noted that the ICO conduction is not planned. The peculiarities of the network can also be attributed to the fact that network support and transaction confirmation will be performed only by verified nodes. Without a doubt, this increases the level of security, but it is no longer possible to call such a network decentralized. A distinctive feature will be the structure of the reward, as it will be distributed among all users and nodes after each transaction confirmation.