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New crypto currency concept.

Recently, I am attempting to design a more efficient, and effective crypto currency. A crypto currency without the drawbacks of the current crypto currency system. First, I came up with a name that should reflect and complement the idea of I think crypto currency should function.

I came up with the name... egscoin.com. The egs stands for... electronic gold standard. The idea is simply as follows; here are the rules:

1 egscoin = $1.00

For every 1 egscoin used for an online transaction for goods, or services... a 5¢ transaction fee is charged to the buyer. 4¢ of the 5¢ of the transaction fee goes to the seller. The remaining 1¢ goes to egscoin.com.

It is up to the seller to provide perks to lure the buyer into using egscoin to complete the purchase.

egscoin has no intrinsic value.

egscoin is not a store of value.

egscoin does not provide paper wallets.

egscoin provides a method to transact online only.

This is a work in progress. Comments are welcome.
Mark H.