EverGreenCoin is an open-source cryptocurrency derived from Bitcoin’s source code. Being a descendant of Bitcoin, EverGreenCoin inherits some great traits of its ancestors. These traits include easy transfer with near-zero fees anywhere globally, no personal information being required so no risk to loss or theft, and no manipulation of government and banks. The ticker symbol of EverGreenCoin is EGC.

According to the whitepaper, EverGreenCoin works as a public charity and focuses on obtaining green goals. The cryptocurrency also helps in raising funds for green environmental projects.

EverGreenCoin’s purpose includes demonstrating and catalyzing support for environmentally friendly technologies. Therefore, it aims to run important infrastructure like blockchains on waste—energy, computational, carbon, or otherwise—in a resource-constrained environment. 

EverGreenCoin uses blockchain technology to promote and fund initiatives. Behind all those EverGreenCoin initiatives and funding, there is EverGreenCoin Foundation Inc. EGC Foundation is a registered 501(c)(3) non-profit public charity.

EGC relies on support branches that have their area of expertise to run these initiatives. The current EGC branches are the following:

EverGreenCoin always focuses on the quality of changes over the number of changes. The belief is that success comes with code and organizational stability. EverGreenCoin’s codebase is open source and is constantly maintained and reviewed to make sure the community’s standards meet.

EverGreenCoin seeks to solve the multiple problem spaces inherent with today’s blockchain implementation. The project is driven by sustainable technology. The PoW mining phase of EGC uses the well-tested and secure X15 mining algorithm. During the mining process, 2% (1 EGC) of each PoW block reward of 50 EGC goes to the foundation wallet.

EGC can be transferred easily with minimal carbon footprint, thus creating a borderless system. There is no barrier of age, gender, or border. Also, there are no hidden fees.

The whitepaper of EGC was released in January 2019. EGC was announced in public on December 1, 2015. The founder and lead developer of EGC is Steven Saxton. James Magee is the environmental specialist, and Celestino Cantu is the developer of EGC.

The proof-of-work (PoW) consensus mechanism of Bitcoin and other cryptocurrencies is based on energy consumption. With this strategy, the individual who uses the most energy the fastest is the winner and gains the most rewards. EverGreenCoin abandoned this inefficient paradigm by ending PoW once a predetermined quantity of 13 million EGC was mined. This boosted early users’ confidence in the fairness of the proof-of-stake (PoS) consensus method and incentive system.

Additionally, there is no waste of electricity with PoS, as the energy consumed is no greater than running a word processor on a computer. There is a 7% annual reward with EverGreenCoin. The goal is to encourage network diversity by incentivizing the donors to stake their coins by running on the EGC software.

EGC also allows users to help charitable causes by running the EverGreenCoin wallet and staking for charity. EverGreenCoin’s staking for charity is built to allow the foundation team to work and coordinate with other charities and corporations. It is also very simple to use. No complicated address is required. The wallet takes care of everything: staking, network rewards, and sending a defined percentage off to the charity.

Staking for charity can be started, stopped, and changed at any time. The vision of EverGreenCoin of blockchain charity and empowerment allows everyone to donate by simply holding EGC.