SHERIDAN, Wyo., March 10, 2021 (GLOBE NEWSWIRE) — Though the Epicenter ecosystem and its cryptocurrency, Epic Cash, have been recognized to veteran crypto lovers for a while, it stays among the many finest stored secrets and techniques throughout 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 at this time is clearly the highest canine within the cryptocurrency universe. It’s the usual for accessibility, belief, safety, and transferability, in opposition to which all different digital currencies are measured. Though it has well-documented shortcomings, akin to a focus of energy in centralized exchanges, rising charges, and volatility, it should little doubt stay the market chief for the foreseeable future. So how does Epic Money measure up in opposition to 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, during 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 property – 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 mild, mobile-native protocol permits for a predominantly Layer-1 scaling mannequin. With regard to centralization points, EPIC will be mined on unusual dwelling computer systems, leveling the taking part in subject for small-scale miners.
Epicenter gives an built-in and related ecosystem of composable elements with multi-chain connectivity. This distinctive connectivity characteristic gives 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 dimensions of the Bitcoin blockchain has been a difficulty for a while and the issue is just 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 cellular units. A full node requires lower than 1.2 GB – about 1/10th of the cupboard space required for Bitcoin. Improved Layer-1 know-how permits EPIC to realize a lot quicker transaction speeds.
Whereas there may be rising acceptance of cryptocurrencies by retail buyers, establishments and companies as an entire, cryptocurrency customers nonetheless face problem in utilizing it for real-world transactions. To handle 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 industrial functions as a result of its charges are very small and the danger 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 robust future halving coverage, shortage might be assured, in marked distinction to fiat forex, whose provide is unconstrained and always 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 to 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 neighborhood as an entire is profitable.
Epic Money reveals 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 every day with out the supervision of a centralized authority. With its associated property of EUSD and ECR, EPIC has the potential to turn into Bitcoin re-mastered.