Why EPIC Cash Is The Better Money.
A plea for Mimblewimble.
For anyone who is aware of the collapse of the fiat currency system, it is obvious that only solid, scarce money, that cannot be censored, has a future. This seems to be one of the reasons why Bitcoin is becoming increasingly popular. It offers high security through its robust proof-of-work consensus mechanism and has a large and active user base that ensures liquidity and acceptance.
However, Bitcoin faces major challenges in terms of scalability and data protection, as its transparent ledger makes all transactions publicly visible. The high transaction fees also make it unusable for everyday use. The introduction of Bitcoin ETFs should be viewed with concern, as this will put a large number of Bitcoins into the hands of the current banking system, which Bitcoin was originally intended to circumvent.
What we need is a cryptocurrency that not only serves as a store of value like Bitcoin, but has all the characteristics of Superior Money. Among the almost unmanageable number of cryptocurrencies, private cryptocurrencies are very special because they are the only cryptocurrencies that play an important role in protecting individual privacy, which will become even more important in the future.
In a world where surveillance and data collection are ubiquitous, privacy is not a luxury but a fundamental human right. By using the most advanced cryptographic techniques, private cryptocurrencies ensure that financial transactions remain confidential and allow individuals to retain control over personal financial data.
Centralized financial systems can impose arbitrary restrictions on individuals, including capital controls, censorship and surveillance. In the future, global CBDCs will enable complete control of every individual. With the ability of individual programming, the end of freedom will eventually be immutably cemented.
Only private cryptocurrencies offer a real alternative here, enabling individuals to trade freely across borders without an intermediary. They therefore provide one of the most important tools for preserving financial sovereignty and thus individual freedom, at least in part.
Among all private cryptocurrencies, EPIC Cash stands out with its groundbreaking Mimblewimble protocol and polyphasic proof of work. Just like Bitcoin, it is limited to a maximum of 21 million coins. Privacy, scalability and fungibility are the features that EPIC Cash provides, unlike other privacy cryptocurrencies with a novel approach using Mimblewimble, without compromising the efficiency or security of the blockchain.
EPIC Cash's unprecedented privacy is achieved through cryptographic primitives such as Confidential Transactions and CoinJoin. In contrast to non-Mimblewimble-based private cryptocurrencies, which have to store sensitive data encrypted on the blockchain using various obfuscation techniques, Mimblewimble does not store sensitive information such as transaction amounts and addresses on the blockchain at all.
EPIC Cash thus creates the unique prerequisite for ensuring that no sensitive data can be extracted from the blockchain at a later date, even with possible quantum computers. In the case of rampant surveillance, this is an advantage that should not be underestimated if you can still be sure years later that you cannot be held accountable for something that was legal in the past but may be punishable in the future.
A constant challenge for all blockchain networks is scalability. EPIC Cash solves this problem through the innovative Mimblewimble design. By eliminating unnecessary and redundant transaction data through Mimblewimble's unique "Cut-Through", the size of the EPIC Cash blockchain is compressed to only 10% of the size of the Bitcoin blockchain, assuming equal utilization, without compromising cryptographic integrity.
This enables faster synchronization, lower storage requirements and improved network scalability. In contrast, private blockchain protocols not based on Mimblewimble, such as Monero, Zcash, Firo and others, sometimes have a significantly larger blockchain than Bitcoin at the same workload, as they require additional obfuscation techniques to maintain privacy, which negatively affect the blockchain size and thus scalability.
A cornerstone of sound money is fungibility, the property of interchangeability between currency units. The transparent nature of many cryptocurrencies such as Bitcoin compromises fungibility, as tainted coins can be blacklisted or monitored by regulators. Future quantum computers could turn non-Mimblewimble-based private cryptocurrencies, just like Bitcoin, into non-fungible currencies.
Mimblewimble establishes fungibility by breaking the link between transaction inputs and outputs, effectively making all coins indistinguishable from each other, even in the future with quantum computers. As a result, each currency unit will remain interchangeable and censorship-resistant in the future, preserving the fungibility of EPIC Cash even in the age of quantum computers.
Mimblewimble represents a paradigm shift in the landscape of private cryptocurrencies as it offers a powerful combination of privacy, scalability and fungibility. The security of Mimblewimble is unique, especially in the age of the threat of complete surveillance and the future threat of deanonymization of all private, non-Mimblewimble based cryptocurrencies using quantum computers.
A special feature of Mimblewimble is the need to establish contact between the sender and receiver. What initially appears to be cumbersome and old-fashioned has several advantages that are not obvious at first glance. Firstly, transactions cannot be sent to incorrect or non-existent addresses and thus be lost, and secondly, transactions can also be carried out offline via file transfer on USB sticks or other media and can only be transferred to the blockchain at a later date. This is an invaluable advantage in the event of a temporary local internet outage.
EPIC Cash provides a surveillance-free, robust and decentralized financial system for future generations. With a maximum emission limit of 21 million coins, it follows 100% of Satoshi’s Bitcoin DNA. The use of the revolutionary Mimblewimble protocol with the unique "Cut-Through" and the absence of unnecessary bells and whistles makes EPIC Cash unique among all other private cryptocurrencies.
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