Epic Private Internet Cash (Epic) – AzQam Graphics – Medium
Epic Private Internet Cash (Epic)
The Fever about cryptocurrency is increasing, people have heard about it, and more and more people want to find more about it, and find a way to be a part of it. When blockchain technology came, so many things changed, for better, we say. So many businesses have improved, so many companies have started using crypto currencies in their work. The new ideas are coming every day. People want to invest in the new projects. We have the biggest tool in the world, and it is called the Internet. The internet is an enormous base of information where we can do anything. Internet has connected the entire world.
Because of the access to the internet we are able to get information about one of the most incredible crypto-project which is known as Epic Private Internet Cash (EPIC)
Epic is decentralized and private hard money that can be mined by anyone with a CPU, GPU or ASIC, through corresponding consensus algorithms.
Epic started as a free open source community software project undertaken by a passionate global team of cryptocurrency enthusiasts who have been working together since 2017.
Epic encourages private investment capital formation by faithfully following the proven monetary policy of Bitcoin. As such, Epic will have a maximum supply of 21 million in 2140, just as will Bitcoin. In only 9 years Epic’s circulating supply will synchronize with Bitcoin’s, at which point Epic will achieve annual inflation of 0.9%. Future inflation, like with Bitcoin, is known with certainty: 0.45% in 2032, 0.22% in 2036 and so on.
The Genesis Event (the beginning of Epic emission) has been carefully designed for compatibility within existing US regulations. Under even the most extreme interpretations of the Howey Test, there is little basis to assert that Epic is a security. That is because:
No financing was raised to ship the code.
There is no corporation or key individual that controls the network.
There will be no ICO, premine, instamine, or other types of unfair early mining.
Despite tremendous institutional backpressure, responsible fiduciaries are prevented from investing in cryptocurrencies for a variety of reasons, including fungibility. Because the transaction history of every Bitcoin is known, it is possible for legally obtained coins to have come from a hack or theft and therefore be illegal to own. Courts extend claims based on UTXOs and it’s possible to have assets tied up for years in situations such as Mt. Gox or BTC-e. Epic solves this problem for investors by adopting features of the Mimblewimble protocol which mix every transaction together and discard intermediate data from the blockchain through a process known as “Cut-Through.” By doing so, every Epic currency unit is indistinguishable from any other, achieving the same fungibility as physical cash. Epic is a globally accepted trustless bearer instrument without counterparty risk.
Especially for investors in jurisdictions with weak rule of law and untrustworthy institutions, Epic enables the protection of wealth from unjust seizure. As a self-sovereign currency that does not pay interest to anyone, even inflation itself is no longer a concern. Bitcoin has demonstrated orders of magnitude returns to investors across a variety of market environments for over a decade. With the integration of Mimblewimble, Epic is the next logical step for decentralized digital wealth storage. Transactions are faster, cheaper, and more private than in Bitcoin, which should lead to greater adoption as a medium of exchange and unit of account. Network effects drive a positive feedback loop of sustainable value creation based on increasing utility for the asset.
Through my research about Epic internet cash, it was find that Four exchanges have already confirmed they will offer trading of Epic at Genesis, so access to liquidity is strong.
Epic enables private internet commerce as one of the most private cryptocurrencies in existence. All Epic transactions are completely blind, except to the two parties involved, and constructed directly wallet to wallet on a P2P basis. With Epic there are no wallet addresses and transaction amounts are opaque. Existing chain analysis techniques like those integral to Bitcoin are effective at piercing user privacy. Instead, with Epic, users decide what to show to whom with “view keys,” while Dandelion++ transaction propagation deters deanonymization between wallet and node. In fact, no transaction data appears in the Epic blockchain at all; only “kernels” verifying the integrity of the chain are left as evidence of past transactions. Property rights in Epic are absolute, as the currency is by design unconfiscatable and uncensorable.
Epic enables participation in computation with existing commodity hardware able to mine on CPU and GPU. At launch, 90% of block rewards are delivered exclusively to CPU miners who perform proof of work on RandomX using an easy GUI Miner. In subsequent eras, GPUs predominate, with ProgPoW offering AMD and Nvidia owners the majority of mining rewards. Over the long term, Cuckoo 31, 32, 33 and beyond deliver memory-bound graph-theoretical performance. ASICs steadily assume a greater share of network security duties, responding to market incentives created by an increasing share of block rewards delivered to ASICs over time. A gentle path to 90% ASIC, 9% GPU, 1% CPU over ten years lowers uncertainty for investment decisions and strengthens incentives for capital deployment.
Epic allows everyone to participate in coding because it is written in Rust, which is an easy to learn modern language that offers people of all skill sets the opportunity to contribute to the code base. The lightweight and fast core Mimblewimble Epic Cash blockchain supports scriptless scripts, atomic swaps, Schnorr signatures, and other cutting edge features. Nodes do not require full sync and blocks are small and fast at 1MB / minute. On-chain scalability of at least 3x BTC (20 tx/s) is immediately available. As a UTXO-model blockchain, a Lightning-style Layer 2 can be constructed to deliver a path to Visa-scale transaction capacity of 30–50k tx/s within a few years should it be needed.
Detailed documentation, as well as a completely open source GitHub, will be posted prior to mainnet launch. Fully 15% of Foundation revenue is set aside to fund development bounties. All code is open source and all promised features are immediately available for users as of mainnet launch on July 4th.
They will be doing as much publicity as possible leading up to mainnet launch to encourage widespread participation, including a countdown timer on www.epic.tech. For example, they are sponsoring a boat at the 2019 LA -> Hawaii TransPac yacht race: https://2019.transpacyc.com/. Carbon fiber sails featuring a QR code with the miner download link and our brand will be tastefully showcased to a very exclusive demographic alongside global leaders such as Oracle and BMW. The Foundation will recycle 50% of its block reward revenues back to get the currency into more hands through distribution strategies such as the Twitter faucet at @GiverOfEpic, which allows Twitter’s 337 million monthly average users to claim some free Epic with no KYC or marketing opt-in required.
There is no affiliation with any existing project or person using the name “Epic”, as they have been in stealth mode since 2017. Every project member is an anonymous volunteer donating their time — we will mine the currency and profit on the same level playing field as anyone else. They will be publishing a comprehensive suite of technical papers and documentation alongside an entirely open source GitHub in the weeks to come.
For more information and to read about Whitepaper, visit their website
Bitcointalk Username: Rab Damsel
Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2581898
ETH Wallet Address: 0x3a11ABD60A1463579e3E275a31755Af17C9d69b3