Cryptocurrency

Ellcrys: A Decentralized Version Control System For Building Open Source Software And Services.

Web service providers limit organization accounts to only support single owner/admin that is granted unlimited access to add and remove users and manage the account resources. We see this in services like Github, Stripe, Heroku and thousands more. This kind of account structure cannot work for future decentralized organization where there is no single owner, no leader, no trust and no headquarters. Just people from all over the world working together in an open, trustless, democratic organization structure building centrally or decentrally executed software products.  

Ellcrys is a blockchain network that will allow anyone in the world start, join or contribute to open source software products and receive compensation for their contributions. Users will be able to create decentralized Git repositories that are censorship resistant, highly available and can be truly owned by multiple persons. Repositories can include all kinds of codes for different purposes such as web services, smart contracts, mobile apps libraries/packages, frameworks etc.

To enable open, trustless, democratic collaboration, we leverage Git, the most popular version control system, to allow anyone around the world to easily contribute to a project. Contributors can fetch branches, push changes and create pull request proposals to have their work merged. Ellcrys blockchain decentralizes a git repository by bundling and distributing git objects across the network. Contributors will be able to synchronize their local repositories seamlessly with the network using existing git tools.  Ellcrys is taking an approach that will bring transparency at the repository level.

A git branch can contain functions that may be compiled and executed against transactions. These functions are known as smart contracts. Ellcrys smart contracts are repo-addressable; This means that transactions are addressed to the repository they were loaded from as oppose to the contract address. This allows for future upgrades without breaking dependent applications. Transaction originators can still send transactions to old versions of smart contracts if the latest version is not preferred. Ellcrys will support development of smart contracts using languages such as Javascript, Go, Ruby & Python.

We believe maintainers and contributors of open source need to be properly incentivized to ensure continuous development and quality of projects. To that end, Ellcrys will allows open source projects the ability to create paid branches that attract a fee to fetch. Maintainers and contributors can benefit from paid issues created by users. Contributors will earn coins when their pull request is accepted by project’s community.

Ellcrys will level the playing field by allowing anyone outsource their software projects, set price as low as they can afford and allow independent developers take up task based on their preferred pricing.  The Ellcrys native coin is known as “Ell” (plural: Ellies, symbol: ELL). It is created through a process where people around the world send their national banknotes to the network and have it analyzed, verified, indexed and exchanged for Ellies. This process is referred to as “minting”. There will be a total coin supply of 10,000,000,000 (Ten Billion). These Ellies will be distributed through a process known as StackMint.  StackMint allows millions of people from all parts of the world exchange their national banknotes for ELL. StackMint aims to provide a fair distribution model where everyone can constantly receive bits of Ellies without needing to purchase expensive hardware as seen in PoW systems.

The pre-ICO sale of the ELL token will run from February – March 2017, and the ICO sale will run from March – April 2018.

For more information, and participation in their Pre-Sale and ICO today kindly visit: https://ellcrys.co

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