SHERIDAN, Wyo., March 10, 2021 (GLOBE NEWSWIRE) — Although the Epicenter ecosystem and its cryptocurrency, Epic Cash, have been known to veteran crypto enthusiasts for some time, it remains among the best kept secrets within the broader DeFi industry. Launched in September of 2019, Epic Cash is modeled after Bitcoin, with a pre-defined emission schedule and the same hard limit on the total coin supply; however, it has several design improvements and significant advantages over the “Founding Father” of the cryptocurrency movement.
Bitcoin today is clearly the top dog in the cryptocurrency universe. It is the standard for accessibility, trust, security, and transferability, against which all other digital currencies are measured. Although it has well-documented shortcomings, such as a concentration of power in centralized exchanges, increasing fees, and volatility, it will no doubt remain the market leader for the foreseeable future. So how does Epic Cash measure up against Bitcoin?
The Foundation of the Epicenter Ecosystem
The Epicenter ecosystem was designed to address the flaws inherent in Bitcoin, so as to deliver on Nakamoto’s original vision, in which large numbers of small transactions are processed efficiently, anonymously and securely on a decentralized network of lightweight nodes.
With its triumvirate of digital assets – EPIC (Epic Cash), EUSD (soft-pegged stable coin) and ECR (reserve token) – the Epicenter ecosystem combines a store of value, medium of exchange and unit of account to deliver the solid monetary platform that decentralized finance requires.
EPIC addresses all of the attributes needed to foster mass adoption: fungibility, scalability, censorship resistance, centralization resistance and regulatory compatibility. To ensure fungibility, EPIC leverages the Confidential Transactions (CT) and CoinJoin technologies to scramble transaction details, resetting the ownership history each time coins are spent, thereby preventing tainted coins. For scalability, EPIC’s light, mobile-native protocol allows for a predominantly Layer-1 scaling model. With regard to centralization issues, EPIC can be mined on ordinary home computers, leveling the playing field for small-scale miners.
Epicenter provides an integrated and connected ecosystem of composable components with multi-chain connectivity. This unique connectivity feature provides developers with the tools they need to build decentralized applications. Epicenter allows for flexible, decentralized finance solutions, including lending, staking, swapping, payments and future features, all enabled with crypto-to-fiat convertibility.
Storage, Ease of Use, and Convertibility
The size of the Bitcoin blockchain has been an issue for some time and the problem is only getting worse. Bitcoin cannot be readily mined or stored on mobile phones, nor on most PCs. In contrast, by using the Mimblewimble protocol, EPIC is able to run natively on low-end mobile devices. A full node requires less than 1.2 GB – about 1/10th of the storage space required for Bitcoin. Improved Layer-1 technology allows EPIC to achieve much faster transaction speeds.
While there is increasing acceptance of cryptocurrencies by retail investors, institutions and businesses as a whole, cryptocurrency users still face difficulty in using it for real-world transactions. To address this problem, Epicenter introduced EUSD. EUSD is a stable coin that is soft-pegged, one-to-one, to the U.S. dollar: it is instantly convertible to the dollar equivalent of Epic Cash. EUSD is attractive for commercial applications because its fees are very small and the risk of fraud is non-existent.
Token Supply
EPIC has a fixed total supply of 21 million coins, and more than half of those coins have already been mined. With a strong future halving policy, scarcity will be guaranteed, in marked contrast to fiat currency, whose supply is unconstrained and constantly accelerating.
With regard to…
Read More:The Potential and Promise of Epicenter: Delivering on Bitcoin’s Original Vision
