An open blockchain's well-working depends on satisfactory decentralization, yet the ascent of mining pools that give chance sharing prompts centralization, raising doubt about the feasibility of such frameworks. We demonstrate that mining pools as a money related advancement altogether fuels the weapons contest and along these lines vitality utilization for proofof work-based blockchains.
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.
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 is the last point in the adventure toward genuine P2P web money, the foundation of a private budgetary framework. The cash means to turn into the world's best mysterious type of computerized cash. So as to satisfy that objective, it satisfies the three essential elements of cash.
Epic Cash intends to be the world's best type of advanced cash. So as to satisfy that objective, it must satisfy the three primary elements of cash:
- Mechanism of Exchange : anything acknowledged as speaking to a standard of significant worth and interchangeable for products or administrations
- Store of Value : can be spared, recovered, and traded sometime in the future, and of unsurprising worth when recovered
- Unit of Account : the unit by which the estimation of a thing is represented and looked at.
Epic Cash looks to decentralize the system as fast as conceivable by advancing a mining environment that incorporates whatever number equipment types as could be expected under the circumstances. Consequently, Epic mining is accessible to CPUs, GPUs, FPGAs, and ASICs, utilizing at first four separate hashing calculations: RandomX, ProgPow, SHA3 Keccak, and CuckAToo31+.
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.
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+
Epic Cash expects to be perceived as the mechanism of trade partner to Bitcoin's perceived position as the decentralized store of significant worth pioneer. By reintroducing lost fungibility on a substantially more vitality proficient and environmentally inviting equipment spine, Epic Cash tilts the level of influence back for individual clients, as a distinct difference with ongoing bringing together patterns.
The blend of Bitcoin financial matters, game hypothesis, and demonstrated confirmation of-work equation with the best of contemporary blockchain innovation results in a trustless, permanent, and decentralized money that is adaptable, fungible, and that secures protection. The blockchain it keeps running on is open, open, borderless, and oversight safe. It protects the security and abundance of its clients and prizes the individuals who send their equipment in help of the system by means of mining. Each Epic is mined into reality by means of evidence of work. Supply starts at zero and the system is viewed as reasonable propelled, with a practical testnet at present running.
For more information
Website : https://www.epic.tech/
Discord : https://discord.gg/nYcYbEN
Reddit : https://www.reddit.com/r/epiccash
Explorer : https://explorer.epic.tech/
Telegram : https://t.me/Epic04July2019
Ann Thread : https://bitcointalk.org/index.php?topic=5112108.0
Username : JANGANGALAK
My Ethereum: 0xb0cE36EC082A15E3000bb080381E6E4e166dc3E0
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