While Bitcoin is a decade old and has a first mover advantage over all other blockchain projects, it has fallen short in a couple of ultra important facets.
1.] Medium of exchange
Medium of exchange was the original intention for the Bitcoin network and the networks first application, Bitcoin. If you read the white paper this couldn’t be more apparent as Satoshi’s primary aspiration.
We know this because the title is explicit and the first sentence of Satoshi’s vision as Bitcoin as a medium of exchange is outlined in the white paper.
Bitcoin while still usable as a medium of exchange has failed in the past because of network congestion when the network was seeing peak usage. The congestion leads to high fees and long wait times to process transactions. While advancements have been made such as Lightning Network and layered scaling [off-chain] transactions, Lightning transactions are reversible and defeat the purpose of a trustless blockchain network.
Epic Cash has tried to solve this problem, pick up the baton, and carry it to the finish line. Epic Cash enables users to again use cryptocurrency as a medium of exchange — as it was first intended to be and not only a store of value system.
Epic Cash did this through great research and use of empirical data and adopted a cut-through design that reduces block congestion by more than 90%. This allows for the Epic blockchain to run optimally and still process transactions. It also provides for scaling into the future of Epic blockchain. This is because Epic Cash blockchain is a MimbleWimble blockchain and MimbleWimble focuses on efficiency.
The second problem with Bitcoin and the Bitcoin blockchain is decentralization. While it is hailed by many as the most decentralized blockchain known to man, is it really? While there are currently more nodes being run on the BTC blockchain than any other minus Ethereum, there is also a high concentration of nodes being run in a particular province of China.
The Chinese province of Sichuan, according to a report today by Coinpath, has over 50% of the hashing power currently on Bitcoins network. This is staggering to anyone that knows the ills of centralization and got into the blockchain space in an attempt to decentralize money and the world therefore.
With over half of the hashing power, one province can potentially collectivize and attempt any sort of measure that could have an ill impact on the network. This is truly alarming to anyone that believes the BTC network is decentralized and safe from a political Coup d’état.
This problem runs asymmetrically to the Epic Cash blockchain and what we believe we’ve achieved through our 3 different hashing algorithms. Our goal is to be as fair as possible and achieve the most decentralized project yet, and we believe we’ve achieved this aim.
Through RandomX (CPUs), ProgPow (GPUs) and CuckAToo31+ (ASICs) hashing power, Epic Cash is truly the people’s blockchain, available to the masses. By enabling multiple consensus models, Epic Cash blockchain is in the reach of many, and not just the wealthy that can afford expensive mining equipment and mining farms in the case of BTC.
Epic Cash is focused on fulfilling and becoming the primary medium of exchange in cryptocurrencies in existence and achieving this goal because of our truly remarkable blue-print of decentralization and inclusivity. By new breakthrough’s such as MimbleWimble and mixing our protocol with sound token economics and mimicking BTCs 21 million total supply, we will also emerge over time as an excellent store of value. Add in privacy with CoinJoin and Dandelion ++ embedded in our protocol and the next revolutionary advancement in blockchains is here.
To learn more about Epic Cash check out our links below:
Epic Cash Website: www.epic.tech
Epic Cash Telegram: https://t.me/EpicCash