Eagle coin is a digital cryptocurrency that allows individuals and organizations to exchange value securely while still using a recognizable accounting unit. The platform aims to improve the payment experience on social media platforms using blockchain technology. EagleCoin's vision is to align payment on the network with the ethos of decentralized technology. That is, promote accessibility to anyone, anywhere, offer censorship-resistant transactions. And also build open-source technology controlled by software and governed by users. The platform intends to have minimized the risk of centralization to a single point of responsibility for token production and redemption.
ELC is the native cryptocurrency of the platform. It is a TRC 20 utility token built on the Tron blockchain. TRC-20 is a standard for smart contracts on the Tron blockchain to integrate tokens. Tron is an open-source, decentralized blockchain-based platform. ELC can be used for various things, including payments, obtaining and redeeming loyalty incentives, discounts, DeFi collateral, and more.
According to its whitepaper, EagleCoin is peer-to-peer, pseudo-anonymous, and cryptographically safe. It can be integrated with businesses, multiple exchange platforms, and wallets. The platform uses a simple but effective execution of Proof of Reserves, which considerably decreases counterparty risk. A Proof of Reserves (PoR) is a third-party audit that verifies that a custodian has the assets it declares on behalf of its users.
