Elumicate WhitePaper
Search…
⌃K
💳

Token Use

​
​
The ELUM token is used to reward data miners as well as a medium of exchange to gain access to the accumulated data.
ELUM is exchanged for data credits in order to gain access the stored data. Data credits are tied to the USD at a 1:1 ratio. Data credits are non transferable and can only be used as an exchange medium for data access.
ELUM tokens that have been exchanged for data credits are transferred to a temporary holding pool where they will later be re-distributed to relevant mining participants (the devices who mined the data being accessed by the burning of data credits) with a percentage being burned, creating token deflation.