Ethearnal Brings Blockchain Accounting to the Freelancing Industry
The blockchain will handle freelancing issues like trust, payment, and reputation.
Ethearnal is an upcoming ecosystem that will bring the power of peer-to-peer trustless payments in the field of freelancing. The Ethearnal project aims to solve problems of trust, achievement tracking, payment, and escrow protection. Moreover, the Ethearnal system will also tokenize and manage reputation.
What is revolutionary about Ethearnal is that the ICO backers would be able to oversee and control the spending of the funds, to make sure the project goals are reached.
"Only 10% of the collected funds are released to us upon completion of the ICO. The rest money and the founders tokens remain locked in the smart contract. Once we run out of the initial 10%, we initiate a smart contract based voting process. We inform the community what we have done so far and for what we need the next 10% funding increment," announced the project team.
The right to vote in each round of funds release is based on the number of tokens owned. This gives backers an incentive to hold onto the digital assets, and steer the project toward success.
The ICO also has a built-in refund mechanism, that may generate a vote to return the funds, in case more than 65% of the backers demand it.
The Ethearnal sale will also have a unique token distribution structure, where a new hard cap would be announced every hour, thus not allowing early buyers to pay huge network fees and have an unfair advantage. Ethearnal has leveled the playing field as much as possible, by opening the ICO in periods of one hour.
After the funding round is completed, the project would open the proprietary smart contracts to manage the freelancing process. Also, a distributed network of moderators and reputations managers would be created, to achieve a community of honest players. To achieve the goal, Ethearnal uses an array of cutting-edge technologies: Kademlia DHT, Ethereum smart contracts, Inter Planetary File System (IPFS), Python, SQLite, CherryPy, OpenAI, WebCRT.
The total supply of ERT tokens would be 1000X the Ethereum received at the ICO. The token sale opens at the end of February. For more details, refer to the ICO profile page or the project's Twitter profile and Telegram channel.