Introduction
That ambiguous term 'Blockchain technology' simply refers to the transparent, trustless and immutable publicly accessible ledger that allows the transportation of units of value using public key encryption, by users. By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way",it is managed by a peer-to-peer network collectively adhering to a protocol for communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority. Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been claimed with a blockchain.
The potential for blockchain technology is not limited to bitcoin, a cryptocurrency. Other cryptocurrencies include Ethereum, Litecoin, Ripple etc. A cryptocurrency (or crypto currency) is a digital asset that is utilized as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.Cryptocurrencies use decentralized control, known as Blockchain as opposed to centralized digital currency and central banking systems. It's characteristics of cryptocurrencies are Medium of exchange, store of value and unit of account. These are the main features of digital or crypto currency. However these are not enough, though some cryptocurrencies strive to fulfil such noble attributes but fall short at one feature or another, increasing the hunger for a true digital asset or currency.
The Solution
In steps Epic Cash into the fray.
Epic Cash is the final point in the journey toward ultimate P2P internet cash, the cornerstone of a private financial system, and also trying to become the world’s most effective privacy-protecting form of cryptocurrency. It has the following features
*Medium of Exchange
*Store of Value
*Unit of Account
*Speed
*Privacy
*Scalability
*Fungibility
*Decentralization
*Immutability
*Trustlessness
Unit of Account – the unit by which the value of a thing is accounted for and compared.
Store of Value: An asset can be saved, retrieved, and exchanged at a later time, and of predictable value when revised.
Medium of Exchange: This can be accepted as representing worth and value, and exchangeable for goods or services.
Privacy: The modern day use of money can be understood as the collective transference of units of account between
people and institutions. Transaction data can be dangerous information in the hands of predatory third parties without privacy.
The past decade’s use of cryptocurrency shows a continuum of “privacy” in varying blockchain implementations. The privacy scale, should one be considered, ranges from open and notorious on one end to anonymous on the other. As privacy erodes, one essential cornerstone of cryptocurrency, trustlessness, degrades. As evidenced by the success of Bitcoin
blockchain analysis services, Bitcoin is situated more towards the notoriously transparent end of the privacy spectrum. Users must increasingly take steps to ensure they don’t inadvertently transact in tainted Bitcoin.
Epic Cash tends towards anonymity and restores this essential property by
ensuring that both the privacy of the individual and privacy of transactions are engineered into the system at a fundamental level, thus safeguarding the anonymity of Epic holders and users by protecting the details of transactions
from third parties, and is designed to be both untraceable and invisible to surveillance.
Fungibility: Fungibility means the feature of a set of goods or assets that ensures the individual units of that set are of equal value and are interchangeable. It differentiates the earliest forms of currency from their preceding systems of barter. Without confidence in the fungibility of money, that money rapidly loses its utility. Most cryptocurrencies similar to Bitcoin, by the nature of the transparent blockchains on which they exist, can be verifiably traced through every wallet in which they were kept. Private third parties and governments alike monitor the Bitcoin blockchain with increasingly sophisticated means to quickly identify coins used in previous activities. This naturally leads to concerns that tainted coins might someday be banned from transactions, leaving their subsequent good-faith holders at a loss. Epic avoids this problem entirely due to the strong privacy features previously described in this paper. By removing
the link between identity and ownership, and the relationship between transacting parties, Epic can never be affiliated to a person or an activity, Epic value remains independent of its users and provides high degrees of privacy and security that cannot be easily manipulated
by malicious actors in criminal, financial, or political arenas.
Scalability: Most cryptocurrencies require indefinite storage of all transaction data
on their blockchains. As more transactions are made, the Blockchain size increases. Epic Cash is a MimbleWimble blockchain implementation that yields advances in scalability as a result of space efficient design that sheds redundant transaction data. The Cut-Through functionality responsible for this assures that the blockchain grows more space efficient over time unlike most 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. Furthermore, while each Bitcoin node must store the entire chain, Epic Cash nodes are able to contribute to network security based on a small subset of blocks.
Thus, mining has become increasingly centralized among large pools leveraging costly computing resources. If the entire historical record of Bitcoin were to be stored on the Epic Cash blockchain instead, it would fit into nearly 90% less space. Smaller is faster because each transaction requires less time to transmit and secure.
Speed: The Epic Cash transactions are smooth, continuous and are executed at much faster speed than in previous generations of blockchain technology. While Bitcoin requires six 10-minute
blocks to achieve complete transaction confirmation, Epic transactions occur within a single block confirmation as soon as a 1-minute block has been mined.
Trustlessness: No one needs to trust any centralized entity in order for the network to function.
Decentralized: No one
controls Blockchain and it is architecturally
decentralized.
Immutable: No transactions can be stopped once initiated.
In summary, Epic Cash is set up to win 99% where others fear to tread.
Epic Cash resources
Website: https://epic.tech/
Telegram: https://t.me/EpicCash
Github: https://github.epic.tech/
Forum: https://forum.epic.tech/
Blog: http://www.prime.epic.tech/blog#
Whitepaper: https://epic.tech/whitepaper/
Linkedin: https://www.linkedin.com/company/epic-cash/
Facebook: https://www.facebook.com/EpicCashTech
Twitter: https://twitter.com/EpicCashTech
About the Author
Joseph Johns is a successful Emergency Medicine Physician and an ardent cryptocurrency and Blockchain connoisseur
Bitcointalk Username: Redoc
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2409725
Eth Address: 0x8dC02f9a3255C0cE32536E698447F2E3915AE948
