What Is Ekta (EKTA)?

Ekta was designed to merge the real world with the on-chain (activity that takes place on a blockchain) blockchain world. The Ekta platform connects traditional businesses and industries to the blockchain space. As a result, Ekta creates opportunities to decentralize the efficient access to capital from the modern world's providers, including corporations, banks, and investors. Through fractional tokenization and non-fungible tokens (NFTs), Ekta offers opportunities to the people who need them most, employees and their families, borrowers, and innovators. 

The mission of Etka is to create a world where blockchain technology is used to make life better for everyone. People from different backgrounds and socioeconomic circumstances need to participate in a new ecosystem in which they will not face the barriers and inefficiencies created by centralized governing agencies. 

According to the whitepaper, more people can become lenders through Ekta's decentralized credit platform. With Ekta, collateral requirements that limit so many potential lenders are removed, making DeFi lending more accessible to everyone, not just the privileged class of crypto-savvy investors. 

EKTA, Ekta's native token, enables direct participation in the Ekta ecosystem, serving three unique purposes, i.e., governance, purchases, and retail. In the Ekta ecosystem, token holders have access to all privileges except for the token's function mechanism, but only to a limited degree. As the primary currency and method of exchange in all physical spaces and virtual and nonfictional marketplaces, EKTA is the primary currency and method of exchange of the Ekta platform. 

EKTA burns tokens periodically. The projects launched on EktaChain burn EKTA tokens collected to reduce EKTA supply according to their use cases and maintain deflationary token economics. When crypto tokens are burned, they are permanently removed from circulation to increase the value of the token. 

Ekta's self-developed NFT Platform is a blockchain-based cross-platform for sharing and selling NFTs. The platform provides a unique and novel market for NFT collection and distribution. EktaChain's smart contracts function like auto-vending machines. Similarly, smart contracts are similar to vending machines. When transferring bitcoin or other cryptocurrencies to a vending machine (analogous to a ledger), the input must meet the requirements of the smart contract code to execute the obligations automatically. 

History of Ekta Project (EKTA)

Berwin Tanco, Yog Shrusti, and Jason Zheng are the cofounders of the Ekta platform. The total supply is 420,000,000 EKTA tokens.