Ellcrys ICO Review : Co-Create, Co-Own and Co-Manage Software Products

About Ellcrys ICO

Ellcrys ICO lets anyone, anywhere in the world to co-create, co-own and co-govern software products, services and organizations without relying on a centralized authority. Open source collaborators are empowered to start or contribute to communities dedicated to creating community-run software products and services using a source code sharing and collaboration technology that is open, decentralized, fault-tolerant and censorship-resistant.

Ellcrys offers a decentralized git hosting system that enables developers to store and share codes that cannot be censored or abruptly destroyed. It also provides an ownership layer that allows thousands of people to share ownership of software applications (like mobile apps, web applications, REST APIs, libraries, frameworks, desktop apps, etc.). On Ellcrys, collaborators are empowered to govern themselves through the provision of tools that allows them to create simple to the complex governance system.

Decentralised Ownership

Create decentralised repositories, digital currencies, software products whose ownership can be truly shared with millions of contributors and users without the permission of a central authority. Create sovereign assets and entities. Give contributors or users power by sharing ownership.

Protocol-Enforced Ownership

Create communities with democratic or Ellcrys ICO custom governance models.

Decentralised Git Hosting

Decentralised hosting of git objects enable immutable, programmable, censorship-resistant and highly-available source code repositories.

Ownership

Create truly decentralised source code repositories that enable communities to choose their ownership structures for the software or organisation they are developing.

Governance

Repositories will be able to use governance primitives like proposals, Ellcrys ICO votes, coins, stake, reputation and autonomous functions to make rules and reach decisions transparently.

Censorship Resistant

The Ellcrys protocol ensures fundamental rights like speech via coding can be expressed without fear. Groups of individuals and organizations can build anything together and in the open.

The Ellcrys Protocol

A hybrid protocol that leverages Proof-of-Work, Proof-of-Stake and human work to create a platform that is fast, inclusive and resilient to attacks. High transaction throughput Hybrid PoW/PoS consen susInclusive & Fair Coin Distribution Resistant To Forks Ellcrys protocol integrates both Proof-of-Work and Proof-of-Stake consensus algorithms to create a system where miners propose blocks and PoS miners validate these blocks. Without the vote of PoS miners, a block cannot be appended to the chain. To increase transaction throughput, Ellcrys ICO are leveraging BitcoinNG’s leader-based block creation mechanism which introduces faster blocks that are created in shorter intervals than slow blocks created through proof-of-work.

Decentralised Governance

With governance primitives like proposals, votes, coins, stake, reputation, autonomous functions and a dispute management system, collaborators can create custom governance structures that can help them achieve their goals.

Autonomous Functions (a.k.a Smart contracts)

Create blockchain programs using established programming langauages. Build immutable blockchain applications for gaming, finance, governance, health and more. Autonomous functions enable communities to create custom behaviours for managing their membership, finance, decision-making process and more.

Cryptocurrency

On Ellcrys, the native coin which is known as “Ell” (plural: “Ellies”). It is denoted by the ȅ. It is an inflationary currency with an initial supply of 1,500,000,000 and mineable through mining protocol known

Open Collaboration

Freely create, co-own projects and collaborate beyond borders. Build Ellcrys ICO global organizations that offer innovative and competitive products and services to people.

The Ideal Platform for Open Source Service

In section 2, the discussed the reasons why centralised code sharing platforms are unsuitable to lead the change towards a future of community-led software products and businesses. These changes range from censorship, ownership, and governance to execution models. The can see that the major obstacle is the inability to enforce ownership, transparency and accountability.

The take the following approaches to solve the issues:

• Ellcrys will use blockchain technology to eliminate censorship concerns by creating a new type of decentralised collaboration framework that is open to anyone, anywhere and cannot be destroyed. There will be no entity to receive and carry out censorship requests.
• The use of public key cryptography as the primary mechanism to create identity and to authorise actions, will allow projects to have multiple owners or signatories who can partake in the day-to-day governance of the project.
• By the very nature of blockchains, repositories will remain immutable: They will always be accessible to everyone. Although, owners of the repositories may enable the ability to apply access level rules to prevent unauthorised write operations.

Values

Transparency

The believe community organizations must be built around transparency. Collaborators need to know everything in other to work together and make decisions effectively.

Freedom

The freedom to use, access and engage communities and the products they create must not be restricted. The care about making tools that respect freedom and encourage others to do the same.

Collaboration

They are on a mission to create an ecosystem of collaborators working together to create life-changing products. The believe people of diverse skills spread across the globe can be a force for good when mistrust and inequality are eliminated.

Team