Emma Gold and I have, this morning, designed, implemented and launched a new cryptocurrency, called Emma Goldcoin (EGX). It is easy to use, verifiably 100% secure, and has zero environmental impact.

Full details of EGX, along with the reference implementation, can be found here.

EGX fixes all the problems with all the existing cryptocurrencies once and for all. In particular it fixes the problems around security, environmental impact and ease of use that beset all other known blockchain-based cryptocurrency offerings.

The idea is that the total number of EGX is pegged to the number of human beings on the planet. Each person has an EGX wallet - without exception - and on launch, every person on the planet is given 1 EGX.

EGX introduces the concept of Cost of Receipt, using the formula x=y, such that it costs the same amount to receive an EGX payment as the value of the payment itself.

With EGX, the balances in the sender and receiver’s wallets remain the same after every transaction, making it so trivial to implement both the wallets and the blockchain part of EGX that no code whatsoever is required.

With no code, 100% security and zero environmental impact is achieved.

Wherever another kind of cryptocoin is in use, EGX can be substituted in order to increase security and decrease environmental impact.

There are also numerous other advantages.