Epic Cash is the final point in the journey toward true P2P internet cash, the cornerstone of a private financial system. The currency aims to become the world’s most effective anonymous form of digital money. In order to fulfill that goal, it fulfills the three principal functions of money.
Most cryptocurrencies, like Bitcoin, are stored in wallets whose addresses refer to public keys derived from a wallet’s private key. These addresses can be thought of as locators of one’s private vault in the digital world. Epic Cash eliminates addresses entirely and instead applies one grand multi signature from which all public and private keys are generated on a single-use basis.
Because wallet addresses are a vault’s locator in the digital world, that wallet can be traced to an owner’s Internet Protocol (IP) address, which anchors the owner to a computer at a unique location at a given point in time. Simply explained: when a Bitcoin transaction takes place the transaction is broadcast from a communication hub called a ‘node’ and then propagated to other nodes called ‘peers’. That information then quickly spreads to each of those nodes’ peers consecutively across the entire network. This process is aptly named the “Gossip Protocol”. Quite simply, each Bitcoin has a visible online position and a physical location where it, or rather the Bitcoin owner, can be found. As journalist Grace Caffyn noted, Bitcoin is “no more secret than a Google search from a home internet connection.
In addition to eliminating wallet addresses, Epic Cash secures privacy of identity by ensuring IP addresses can’t be traced. It does this through the integration of the Dandelion++ Protocol. Improving upon its predecessor, the original Dandelion Protocol, the Dandelion Protocol is a result of 7 researchers’ continued work to combat deanonymization attacks on the blockchain. Through Dandelion++, transactions are passed over random intertwined paths, or ‘cables’, and then suddenly diffused to a large network of nodes, like the pods of a Dandelion flower when blown from their stem.
Epic Cash assures transaction privacy by obscuring amounts and the sender-receiver relationship of a transaction. This is achieved through the application of ideas Familiar from Confidential Transactions (CT) and CoinJoin, methods in large part developed.
SCALABILITY
Epic Cash is a MimbleWimble implementation that yields advances in scalability as a result of efficient space design that sheds redundant transaction data. The Cut-Through functionality responsible for this assures that the blockchain grows more space efficient over time versus many cryptocurrencies, including Bitcoin, and that new nodes can be created with minimal investments in memory and computing power. By remaining space efficient, it capacitates a widely dispersed network and fosters decentralization.
MONETARY POLICY
The monetary policy of Epic Cash and Bitcoin are very similar. Epic Cash circulating supply first expands rapidly and then synchronizes with the circulating supply of Bitcoin in 2028. It increases thereafter at a declining rate until reaching a maximum supply of 21 million Epic by 2140. Epic Cash is a safe store of long-term value because the circulating supply is known at any point along its emission lifecycle and culminates in a fixed maximum supply.
EMISSION SCHEDULE
Epic Cash has a total of 33 mining eras, each defined by decreases in block rewards, relative to their preceding era. The Epic Genesis, the date on which Epic Cash block #1 is mined, takes place on July 4, 2019. Blocks are mined at one per minute. The first five eras will produce nearly 97% of the Epic Cash maximum supply, matching 20 years of Bitcoin emissions in approximately nine years.
MINING
Epic Cash pursues decentralization by welcoming a wide variety of computation hardware. Epic mining is initially available to CPUs, GPUs, FPGAs, and ASICs, using four respective hashing algorithms: RandomX, ProgPow, SHA Kecca. Additional algorithms can be trivially hot-swapped without compromising the integrity of the chain.
CONCLUSION
Epic Cash aims to be recognized as ‘decentralized digital silver’, a medium of exchange counterpart to Bitcoin’s recognized position as decentralized digital gold. By reintroducing lost fungibility on a much more energy-efficient and ecologicallyfriendly hardware backbone, Epic Cash tilts the balance of power back in favor of individual users, in stark contrast with recent centralizing trends. The combination of Bitcoin economics, game theory, and proven proof-of-work formula with the best of contemporary blockchain technology results in a trustless, immutable, and decentralized currency that is scalable, fungible, and that protects the privacy of its users. The blockchain it runs on is open, public, borderless, and censorship-resistant. It preserves the privacy and wealth of its users and rewards those who deploy their hardware in support of the network via mining. Every Epic is mined into existence via proof of work. Supply begins at zero and the network is considered fair launched, with a functional testnet currently running.
TECHNICAL SPECIFICATIONS
Block Time: 60 seconds
Block Size: 1MB
Starting Supply: 0
Final Supply: 21,000,000
Genesis Block: July 4, 2019
Consensus: Proof of Work; CPU: RandomX |GPU: ProgPow | ASIC/FPGA: SHA3 C31+
LINKS
Telegram: https://t.me/Epic04July2019
bounties.epic.tech: Spread the word and earn some Epic Cash
community.epic.tech: Social Channels, news
docs.epic.tech: Documentation
explorer.epic.tech: Block Explorer (Origins Testnet currently running)
faq.epic.tech: FAQ / Q&A
forum.epic.tech: Discourse Forum
github.epic.tech: GitHub
mine.epic.tech: Miner Community
Website | Whitepaper | ANN | Twitter | Facebook | Discord | Telegram
Bitcointalk username: awakpane
profile link: https://bitcointalk.org/index.php?action=profile;u=1269416
ETH address: 0x54EeC03d240d3B57080a89ccABD43B5F69655A51
