SHERIDAN, Wyo., March 10, 2021 (GLOBE NEWSWIRE) — Though the Epicenter ecosystem and its cryptocurrency, Epic Cash, have been identified to veteran crypto lovers for a while, it stays among the many greatest stored secrets and techniques inside the broader DeFi trade. Launched in September of 2019, Epic Money is modeled after Bitcoin, with a pre-defined emission schedule and the identical laborious restrict on the whole coin provide; nevertheless, it has a number of design enhancements and important benefits over the “Founding Father” of the cryptocurrency motion.
Bitcoin immediately is clearly the highest canine within the cryptocurrency universe. It’s the usual for accessibility, belief, safety, and transferability, towards which all different digital currencies are measured. Though it has well-documented shortcomings, akin to a focus of energy in centralized exchanges, growing charges, and volatility, it would little question stay the market chief for the foreseeable future. So how does Epic Money measure up towards Bitcoin?
The Basis of the Epicenter Ecosystem
The Epicenter ecosystem was designed to handle the issues inherent in Bitcoin, in order to ship on Nakamoto’s unique imaginative and prescient, by which giant numbers of small transactions are processed effectively, anonymously and securely on a decentralized community of light-weight nodes.
With its triumvirate of digital belongings – EPIC (Epic Money), EUSD (soft-pegged secure coin) and ECR (reserve token) – the Epicenter ecosystem combines a retailer of worth, medium of change and unit of account to ship the strong financial platform that decentralized finance requires.
EPIC addresses the entire attributes wanted to foster mass adoption: fungibility, scalability, censorship resistance, centralization resistance and regulatory compatibility. To make sure fungibility, EPIC leverages the Confidential Transactions (CT) and CoinJoin applied sciences to scramble transaction particulars, resetting the possession historical past every time cash are spent, thereby stopping tainted cash. For scalability, EPIC’s gentle, mobile-native protocol permits for a predominantly Layer-1 scaling mannequin. With regard to centralization points, EPIC will be mined on odd residence computer systems, leveling the enjoying discipline for small-scale miners.
Epicenter offers an built-in and related ecosystem of composable elements with multi-chain connectivity. This distinctive connectivity characteristic offers builders with the instruments they should construct decentralized functions. Epicenter permits for versatile, decentralized finance options, together with lending, staking, swapping, funds and future options, all enabled with crypto-to-fiat convertibility.
Storage, Ease of Use, and Convertibility
The scale of the Bitcoin blockchain has been a difficulty for a while and the issue is simply getting worse. Bitcoin can’t be readily mined or saved on cell phones, nor on most PCs. In distinction, by utilizing the Mimblewimble protocol, EPIC is ready to run natively on low-end cell units. A full node requires lower than 1.2 GB – about 1/10th of the space for storing required for Bitcoin. Improved Layer-1 expertise permits EPIC to realize a lot quicker transaction speeds.
Whereas there’s growing acceptance of cryptocurrencies by retail buyers, establishments and companies as a complete, cryptocurrency customers nonetheless face issue in utilizing it for real-world transactions. To deal with this drawback, Epicenter launched EUSD. EUSD is a secure coin that’s soft-pegged, one-to-one, to the U.S. greenback: it’s immediately convertible to the greenback equal of Epic Money. EUSD is engaging for business functions as a result of its charges are very small and the chance of fraud is non-existent.
EPIC has a set complete provide of 21 million cash, and greater than half of these cash have already been mined. With a powerful future halving coverage, shortage might be assured, in marked distinction to fiat foreign money, whose provide is unconstrained and continually accelerating.
With regard to ECR, an preliminary circulating provide of 25 million tokens might be generated, with a one-to-one matching to the ~11 million items of Epic Money that can exist when an possession snapshot takes place later this quarter. On that date, every proprietor of Epic Money will be capable of declare a corresponding quantity of ECR. The remaining ~14 million ECR tokens might be allotted to ecosystem companions, advisors and buyers, to create a core group with “pores and skin within the sport,” motivated to see that the group as a complete is profitable.
Epic Money exhibits true promise in delivering on Satoshi Nakamoto’s unique imaginative and prescient for Bitcoin, as expressed within the seminal 2008 whitepaper. Epicenter holds that, with elevated mining and ease of use, giant numbers of safe transactions will be processed day by day with out the supervision of a centralized authority. With its associated belongings of EUSD and ECR, EPIC has the potential to develop into Bitcoin re-mastered.