As Bitcoin's price keeps reaching new ATHs (i.e., All-Time-High) frequently, more and more people are venturing into the cryptoverse. The number of newcomers is so high it caused a very known exchange to halt subscriptions for new clients (i.e., Bittrex). However, what most people who are not very familiar with cryptocurrencies don't know, is that new cryptocoins are popping up every now and then. One of these coins is Einsteinium. No, we are not talking about the element Einsteinium, whose atomic number is 99. 

Einsteinium is a relatively new cryptocurrency that is backed by a non-profit "scientific" foundation. The Einsteinium foundation is a non-profit organization whose main goal is to support research and scientific projets through the creation of a cryptocurrency. The foundation claims it was the first non-profit organization dedicated to scientific research in the cryptocurrency world, as it obtained its official non-profit status on April 7th in Montreal, Canada. Right now, you might be thinking: But how will the Einsteinium foundation fund research? The answer unsurprisingly lies in their in-house coin, which they aptly named EMC2. 

EMC2 is a Bitcoin-like cryptocurrency that was created by Einsteinium for the sole purpose of advancing and funding scientific research and cryptocurrency projects. As you might have guessed, EMC2 is a blockchain-based cryptocoin with a maximum supply of 299 million coins. The foundation manages to accomplish their goal by receiving 2.5% of every mined block, and giving another 2% to support research. 

While the idea of creating a virtual currency to support science might sound counter-productive at first glance, the truth is that taking advantage of the extreme volatility of the cryptomarket to support research may prove useful in the future, especially considering that Bitcoin's price has seen a year-to-date (YTD) return of more than 1900%.

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