Euclideum is a version of the Ethereum blockchain project featuring Proof-of-Stake consensus

Introduction To Euclideum

Two years after Vitalik Buterin announced the Serenity project at Devcon in 2018, Ethereum 2.0 remains a project, not a reality. The launch of the new, scalable Proof-of-Stake network has been delayed many times. Numerous testnets – Schlesi, Witti, Atona and now Medalla – are all steps in the right direction, but the goal remains distant. The launch of Phase 0 is now scheduled for December 2020 or January 2021, but it’s likely to get delayed once again.

Meanwhile, the pressure on the Ethereum network keeps mounting and we are seeing more and more lags and freezes and increases in fees. From just $0.05 per transaction, the miners fee has grown to $1.5. Ethereum isn’t the fast and near-free means of payment that it once claimed to be. The Euclideum project is a result of the efforts of a group of developers to solve these problems as fast as possible. Waiting for another year or two or more for a more scalable version of Ethereum isn’t a practicable solution.

Euclideum is a version of the Ethereum blockchain that features Proof-of-Stake consensus and delegated staking. The name of the cryptocurrency itself is Euclid. Launching a node will require a smaller stake than in Ethereum (30 ECL vs 32 ETH). Users who don’t want to bother with a node will be able to delegate their ECL coins to one of their choice and receive a share in the rewards, like with Cosmos or Tezos. At launch, the expected processing capacity of the Euclideum blockchain is circa 100tps, with an average block time of 10 seconds. Already at this stage, transactions will take 2-3 times less time to process than on Ethereum.

Why Euclideum?

With Euclideum, you can do more. Claim your free ECL coins during the airdrop, earn even ECL with our bounty and referral campaigns, and stake them to become a validator. Don’t want to bother with a node? No problem: delegate your ECL and earn a passive income. Trade on ArchimeDEX, join liquidity pools for more passive rewards, or even submit your own dApp and get a development grant.

Ethereum’s Problems

Ethereum has become congested and slow, and transaction fees have surged. At times, as many as 100,000 transactions are left pending in the mempool. Instead of $0.05, users now have to pay $1.5 for each transfer. In a last-ditch attempt to reduce the bottlenecks, Ethereum miners keep rasing the gas limit per block. This allows to reduce the fees for a month or two, but then the gas limit has to be increased again. Moreover, as blocks become bigger and bulkier, there are more uncle blocks that don’t receive a reward.

It’s clear that the Proof-of-Work consensus algorithm cannot support a scaling ecosystem. The only real solution is a transition to Proof-of-Stake, but it is constantly being delayed. It will take Ethereum at least another year to active PoS. Meanwhile, fees will keep getting higher and the network will keep lagging.

Solution To The Problem

The team of Euclideum made the decision to launch the network as a PoS blockchain from the start in order to demonstrate that it does work – and that it doesn’t require years to test and launch. The expected processing capacity at launch is circa 100 tps, which is more than twice than Ethereum’s present speed.At launch, Euclideum will already have several validator nodes run by the team. Users can immediately start staking and start their own nodes. To become a validator, one needs only 30 ECL as opposed to 32 ETH on Ethereum. The expected annual profit from staking is 8-10%, with the initial yield being 6.5% (as opposed to 5.6% on Ethereum).Every Ethereum holder will automatically get a significant amount of ECL during the airdrop. If you hold 10 ETH, for example, you can immediately get the required 30 ECL and enjoy the rewards without any initial investment.

About ArchimeDEX

Provide liquidity. You can become a liquidity provider on Archimedes and earn a passive income of 3-8%. You can even create your own liquidity pool. Most of the trading fees will be distributed among the pool members.

Adjustable fees. On other DEXes, transactions often fail because the transaction fee is too low. But on Archimedes, it’s very easy to change the fee manually when placing the order. There is also the suggestion mode: the platform will suggest the optimal fee size every time.

Pre-launch ECL buy orders. You can place a buy order for ECL/ETH even before the launch of the Eucledeum network. It will filled as soon as there are sell orders for ECL, in the first few days after launch. Preliminary orders are your opportunity to enter the market before the price starts rising (like a pre-sale).

How To Get Free Euclideum Coins

Create a new wallet on ArchimeDEX or import your existing Ethereum wallet. After the network snapshot on August 27, 2020, you’ll be able to claim your free ECL through the DEX.
Once the Euclideum blockchain is deployed, we will swap the airdrop ECL tokens (ERC20) for fully functional ECL coins.

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Key Facts About The Airdrop

1 ETH = 3 ECL. : For each ETH coin you hold, you’ll be airdropped 3 ECL for free
Ethereum smart contract : We’ll use a smart contract to swap the pre-launch ERC20 tokens for ECL
Referral program : Invite friends and get 5% of all ECL coins they claim during the airdrop
Open-source : We’ll publish the code of the exchange so that you can verify it yourself

Roadmap

Follow the deployment of Euclideum step by step

Q3 2020 - On August 27, 2020, we’ll take a snapshot of the Ethereum network to determine how many ECL tokens each ETH address holder is entitled to. From August 28, 2020, we’ll begin our epic airdrop of ECL ERC20 tokens. If you hold ETH, you are entitled to 100% FREE ECL coins at the 3:1 ratio.

Q4 2020 - Once the airdrop is complete and we have the first PoS nodes running, Once we launch the Euclideum blockchain in September, you’ll be able to swap your ERC20 tokens for ECL coins. You can also launch your own node (requires a stake of 30 ECL) and earn with PoS mining. Trading on ArchimeDEX will start, too.

Q1 2021 - It’s time to introduce delegated PoS staking! Unlike Ethereum, which requires you to run your own node, Euclideum allows you to delegate your coins to another node and enjoy the rewads. You can stake as much or as little as you like and earn up to 8% a year. At this point, we also have the first dApps and smart contracts running on Euclideum.

Q2 2021 - In mid-2021, we’ll activate our dApp development fund — a special ECL reserve created to support blockchain projects that can bring real value to Euclideum. Dapp developers can submit their blueprints or ready code and get significant grants. We’ll also audit selected smart contracts for free. Meanwhile, we’ll be working on the sharding.

Q3 2021 - By September 2021, we expect to have at least 10 decentralized applications running on the Euclideum blockchain, some of them supported by our fund. We’ll also launch a public funding platform where users will be able to invest ECL in the best projects in a decentralized way (instead of risky, non-transparent IEOs).

Q4 2021 - After almost a year of testing, Euclideum sharding protocol will be launched, taking the transaction processing capacity from 100-150 tpx to 400 tpx or higher. At first there will be 4 active shards. Meanwhile, there should be between 30 and 50 dApps running on Euclideum, including DeFi, wallets, prediction markets, etc.

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