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Espers

What Is Espers?

The blockchain technology is the answer to most issues affecting society today. Though Satoshi Nakamoto’s target was the financial sector, the idea of decentralized systems was expanded to help other industries address their challenges. But the industry has grown in a fragmented manner making it difficult for crypto networks to communicate with each other.

Espers was developed by cryptographic experts only known by their pseudonym, CryptoCoderz , to help address the issue of cross-chain operation. It is a decentralized and peer2peer cryptocurrency that employs a combination of hybrid of proof of work (PoW) and proof of stake (PoS) consensus protocols.

The platform and its native token were released in the second quarter of 2016 though some of the features described in the roadmap such as the Chain Apps and SiteOnChain are still under development.

  • A closer look at the Espers coin

When Espers coin was released into the market in early May 2016, the price was $0.000001. The token traded in the market between $0.000001 and $0.000004 until April 2017 when the trend started changing. By June 25th, the price of Espers has risen to reach $0.0008 before taking a dip to $0.00006 in mid-November 2018.

In 8th January 2018, the value of Espers shot up to $0.002. This was the highest mark in Espers history. Immediately after hitting the peak, the price took a bearish trend reaching a low of $0.00021 in early April 2018. It continued with the decline to reach a low of $0.0001 in early November 2018.

Though many cryptocurrencies have been on a bearish trend after the peaks of December 2017 and early 2018, the Espers crypto is seen to be very ambitious. But the development team has exuded confidence that the trend will change when all the features are launched.

What is the problem that Espers Solves?

As the blockchain niche unfolds, the crypto community appears in agreement that there are serious issues that need to be addressed or the gains achieved from decentralization over could be reversed. The following are some of the main issues that Espers addresses.

  • Poor adoption of cryptocurrencies

A closer look at the blockchain niche from 2009 when Satoshi Nakamoto released the first blockchain network reveals that the adoption of cryptocurrencies has not been as rosy as crypto enthusiasts would want it to be. When a new ICO  (initial coin offering) is announced, the people who rush to mop the tokens from the market are investors targeting to sell at a profit in the subsequent months.

The poor adoption of the cryptocurrencies is the main reason why only a few stores in the market today support it. The community holds negative perception about cryptocurrencies that make it difficult for it to fully adopt the coins. For example, governments have been telling their residents that cryptocurrencies are risky ventures. In Russia, the pending Financial Digital Assets draft bill proposes to make it an offense for traders to accept payment in cryptocurrencies.

Another issue that is compromising the adoption of cryptocurrencies is the complex process of buying the coins from the market. To buy some tokens, people are required to follow the lengthy and risky route of joining the exchanges and pairing their funds with preferred coins.

  • Difficulty in sending secured messages on crypto platforms

If you want to send funds on a cryptocurrency platform, it is very difficult to attach a message to it. However, other financial services such as PayPal and Skrill allow users to give a message related to the transactions when dispatching payments.

In the blockchain industry, attaching a message implies that it will be public and can be read by people accessing the public ledger. Many cryptocurrency developers have opted to steer off the focus on messaging because it could compromise users’ anonymity.

  • Poor scalability

The number of transactions that crypto networks can support is usually very small. For example, Bitcoin can handle only seven transactions per second while Bitcoin Cash can only manage 60 transactions every second. However, the main competitors such as Visa can handle in excess of 20,000 transactions. Second.

The problem is caused by the design of blockchain design that requires majority nodes to come to a consensus before confirmation can be made. If the nodes do not come to a consensus, transactions can take even longer.

  • Centralized financial services

When you initiate a transaction such as sending value using wire transfer, it has to go through a complex system of bureaucracy before the funds can be relayed to the recipient. Because banks are run under local laws, their management has to strictly adhere to anti-money laundering and know your customer rules.

The centralized banking services also imply that users’ resources are an easy target for attackers. But this is not the only risk. The financial services company could suffer from scams and even mismanagement resulting in bankruptcy. Espers target to address the problem through complete decentralization.

How Does Espers Solve The Problem?

After comprehensive and lengthy evaluation of the crypto niche, the Espers founders wanted to craft a reliable solution that would not just help the network shine, but also advance the industry to the next level. Here are some of the methods used to address the above issues:

  • Hybrid or proof of stake and proof of work

To help address the above issues, the Espers opted to combine PoW and PoS consensus algorithms. The goal is to make the Espers take advantage of the benefits of both protocols.

Proof of work protocol has cut a name for its security while the proof of stake helps to reduce the problem of centralization. By combining the two protocols, it becomes easier to prevent 51% attack from happening on the Espers  network.

  • Use of side chains to facilitate cross-chain communication

If a person has some Bitcoins and wants to send Ethereum to another person, he is forced to join both networks. Indeed, the process is even more complex because a third party exchange service has to be brought in to convert the digital assets from one coin to another.

Espers addresses the problem by supporting side-chains. The side-chains allow users to plug new blockchains and facilitate direct transactions without joining two networks. However, the main chain and side-chains have to follow the same protocol for cross-chain communication.

  • N-nodes

To address the problem of centralized financial services and poor scalability, the Espers development team opted for N-nodes. This implies that instead of having all the nodes confirming transactions, only a few of them are involved. Note that the N-nodes are selected by the users spread in the Espers system. If they are suspected to be involved in mischief, the nodes on the network can also downvote them.

What makes Espers better than it’s competitors?

The design of the Espers platform was aimed at helping to make it the better option in the market. Here are some of the things that make it better than competitors.

  • The Espers platform operates as a completely decentralized platform of nodes spread in its network. Sending value or running transactions on the platform is done on a peer2peer basis. This implies that profit-seeking organizations such as credit card companies are bypassed. You can, therefore, send value faster and cheaply.
  • The Espers system uses advanced encryption and system of n-nodes that help to make the transactions anonymous. Whether you are sending value on the network or using it as an investment, there is no danger of getting discovered by third parties.
  • The platform has very impressive features. Unlike other cryptocurrencies such as Bitcoin and Litecoin that are simply used for sending value, Espers is different. The platform targets to operate as an ecosystem that can accommodate other networks to facilitate cross-chain operations. This implies that once all the features are implemented, it will be possible to send Bitcoin from its native network and the user receives it as Ethereum using the Espers system. Other impressive features include website on blockchain and file storage within chains.
  • The Espers development is led by a highly enthusiastic team that has been working extra hard to keep the platform secure and valuable. The team has been very active in ensuring that all the features described in the Espers’ roadmap are implemented in a timely way.

It is important to note the concerns that have been raised in various crypto forums about the Espers system. While the features are indeed impressive, some people think that it is too ambitious. These concerns are believed to be the primary causes of the poor performance of the coin’s price in the market.

How can Espers better categorized?

Espers is an ambitious project that tries to handle most of the issues that had been reported in the blockchain niche. The cryptocurrency platform has proposed a very reliable method of cross-chain links that will ultimately make it easy to send coins directly from one network to another.

Note that most of these features are still in their development stages. Therefore, it will be interesting to see how the development team will implement them and the impact on the entire crypto niche.

What’s Espers’ vision on Security

The Espers’ vision on security is to become the most secure network for both in-chain and cross-chain operations. The development team targets to achieve the vision through the following ways:

  • Operating as a hybrid system of proof of work and proof of stake protocols to promote even distribution of coins. This helps to reduce the danger of 51% attack.
  • The Espers network uses advanced encryption to ensure that user’s details cannot be easily accessed by third parties. Even the miners on the network can only follow back to check the balance on the public address but cannot read the personal info.
  • As hackers become more tech-savvy, the Espers team works progressively to identify and seal vulnerabilities. This reduces the danger of hackers taking advantage of gaps that might exist in the system.

Examples of Espers’ use cases / applications

For more than nine years since the introduction of Bitcoin, new coins have been fighting for recognition by seeking to promote more use cases. Here are some of the main use cases of Espers coin.

  • Use Espers to pay for transaction charges on its native network. If you want to send value on the Espers platform, a small fee for supporting the network development will be levied. This cost of paid using the native Espers coin.

Note that the cost is very small compared to what banks and credit cards charge. The cost is even smaller than what other networks such as Bitcoin and Ethereum because its value is still low.

  • Use Espers to pay for goods and services in the market. Like other cryptocurrencies, Espers can be used for payment in stores that accept it. Note that even if only a different coin is supported for direct payment, it is still possible to pay using Espers by first converting to the supported coin.
  • Trade Espers in the markets. If you want to optimize returns from cryptocurrencies such as Espers, it is advisable to trade them in the markets. This will require you to join one of the exchanges that support the coin such as Binance and Bittrex. You will also be required to open a trading account, verify it, and pick the right trading pair.
  • Use Espers to pay for taxes in countries that accept it. Unlike ten years ago when most countries held very negative perceptions about digital coins, things have started changing. More countries are now starting to support cryptocurrencies.

In jurisdictions such as Singapore, Switzerland, and Arizona, it is possible to pay for government services with digital coins.

In Arizona, the passing of HB 1091 marked a new dawn for cryptocurrencies. The bill requires the tax authorities in Arizona to accept payment in crypto coins. Immediately a payment is effected, the Espers coins are converted to USD and credited in the resident’s account.

 

https://coincheckup.com/coins/espers/analysis

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https://espers.io/download/Espers-White-Paper-v1-Final.pdf

 

 

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Pascal Coin

What Is Pascal Coin?

Pascal Coin is a next-generation crypto that targets to improve the blockchain platform’s scalability to levels of the industry leader, VISA system. But this is not the ultimate goal. The development team is using the immediate target as a pathway towards infinite scalability.

  • Pascal Coin cryptocurrency introduces a new cryptographic concept

The Pascal Coin system has helped extend the blockchain-paradigm by embedding a new concept of cryptographic SafeBox. The token took an interesting design because its core code was created from scratch and then launched with no ICO, now pre-mining and no centralized coin allocation.

This implies that the founders worked on the project with their own resources compared to other tokens such as EOS that raised 4 billion in its ICO. By operating without an ICO or centralized mining implies that no one can run away with investor’s funds (it cannot be a pump and dump scheme).

The project has sent ripples in the industry because of the commitment of the development team and its creative features. The community is very optimistic that a new coin with the potential to take the industry to the next level has finally been discovered.

  • A closer look at the price performance of Pascal Coin

When the Pascal Coin hit the market in December 2016, the value was $$0.002. The price grew marginally to $0.008 by 21st January 2017 before shooting up sharply to $1.24 by the close of the month. Then, the price shot down to $0.1 by March 2017 before rising significantly to $1.3 in early June.

The price sank down again to $0.2 in October 2017 before rising steadily to hit $5.6 in mid-January 2018. The impressive performance did not last.  The price started falling after hitting the apex and dropped to $1.8 by early February. The bearish trend continued and reached a low of $0.4 by the close of October 2018.

Though the value of the coin was on a downward trend starting from January to the close of the third quarter of 2018, the trend is not only manifested by Pascal Coin. Even the top coins such as Bitcoin and Ripple have been on a negative trend.

What is the problem that Pascal Coin Solves?

The design of Pascal Coin was aimed at helping to address the main issues in the industry. The founders were concerned that the blockchain niche was slowly sinking into a decline and the available networks were not doing enough.

The development team was especially concerned that many crypto networks are targeted at optimizing the returns from the sale of coins through ICOs or pre-mined coins. Here are the main issues that the Pascal Coin solves.

  • The problem of scalability in the blockchain niche

While the popularity of blockchain and cryptocurrencies has been edging a notch higher day after day, the networks are finding it very hard to keep up with demand. The same design of decentralized networks that makes them desirable has become a serious limiting factor.

In most decentralized networks, transactions are run through consensus. This implies that before a transaction can be confirmed, the majority of the nodes have to agree.

Another issue that makes cryptocurrencies unable to handle more transactions is the fact that transactions come with data. For example, the block size of Bitcoin is only 1mb. This means that the quantity of transactions (call them data in this case) is limited.

If you take the industry leaders, Bitcoin and Ethereum, their scalability levels are really wanting. Bitcoin can only handle a maximum of seven transactions every second while Ethereum can only manage a maximum of 20 transactions every second. When these figures are compared with the conventional industry leader, VISA that can handle in excess of 20,000 transactions, it means that the blockchain niche has to go back to the drawing board. Now, Pascal Coin has the solution to the scalability issues.

  • Poor adoption of cryptocurrency

Even with the fast-rising number of cryptocurrencies in the market, the uptake and use in the society are very low. Many people have indicated that the process of buying the native tokens is complicated because they are forced to go through centralized exchanges. But one might ask; “How comes that tokens released through ICOs are cleared in second?”

When an ICO is announced, the people who rush to buy the coins are mainly investors targeting to optimize profit as opposed to supporting the blockchain niche. This is the reason why they offload the coins immediately the price of the tokens increases.

How Does Pascal Coin Solve The Problem?

Pascal Coin and platform are considered among the most comprehensive efforts for helping to address issues affecting the industry. Here is a demonstration of how the coin helps to address the issues in the industry.

  • The Safe Box

Unlike the traditional UTXO-based digital coins, the Pascal Coin has opted to adopt a new technology referred to as SafeBox. Under the SafeBox technology, the Pascal Coin system departs from the standard design where blocks contain transactions from address to another. Instead, it adopts 2 crucial components; the SafeBox (maintains all current balances) and the blocks that form the blockchain.

The same way it happens in other networks such as Bitcoin, the nodes are responsible for adding new blocks. However, they update their copies of the SafeBox independently when new blocks are created.

To make scaling effective, the SafeBox only stores the last 100 blocks in the blockchain without losing the security of the full-chain. The SafeBox helps to track the user account balances and retains the aggregated proof-of-work difficult in the SafeBox.

The SafeBox is considered very safe because a hacker who targets to forge it would require re-mining the entire network’s history. This includes the blocks that are no longer known. This operational design makes the Pascal Coin one of the most secure in the industry today.

  • Instant Unconfirmed Transactions

Because Pascal Coin is a state-based digital coin, the security guarantees of 0-confirmations operations (transactions) are considered stronger than what is at Bitcoin or other UTXO-based coins.

While payments are required to always wait for a few moments, merchants using Pascal Coin are able to accept 0-confirmation Pascal Coin payments. This mode of operation is achieved through a feature referred to as Double-spend-detection-service.

The service operates by querying nodes in the entire network to check for signs of double-spend. If there is no sign of double-spend in about 5-10 seconds, the store is assured that the payment will clear.

  • Commoditizing the Pascal Coin address space

In most cryptocurrencies, all the new users are allowed to come up with new addresses for their wallets. The impact is that the networks can experience an infinite address-space that can easily bloat the blockchain. To address the issue, Pascal Coin makes the address space finite to be able to commoditize it.

Note that though the accounts are limited, any public key can be associated with it. This makes the system to operate as a natural method of saving space because it is not littered with unnecessary keys. The design also helps to disincentivize the spanners.

  • Support for sub-tokens and smart contracts

By supporting the Pascal Coin’s two-layer model, it is possible to create Assets, sub-tokens, and even smart contracts like the Rootstock runs Ethereum platform over the blockchain core.

Now, running EVM (Ethereum Virtual Machine) over the Pascal Coin blockchain is possible by creating a side-chain pegged to an account. The transaction into this account would be plugged into the second-layer protocol on the EVM side-chain.

Being able to create side chains implies that any business can now easily build its own network and plug it into the Pascal Coin. You do not need to look at the tokens created by others and wonder how they did it. You can create and own tokens by joining the Pascal Coin system.

What makes Pascal Coin better than it’s competitors?

The design of the Pascal Coin has made one of the top networks to watch in the industry. Here are some of the things that make Pascal Coin better than competitors.

  • Though the coin is relatively young, it has demonstrated the capability to address the serious issue of scalability. Now, the industry can rest assured that it is possible to beat the industry leaders with more transactions per second. Note that the ultimate goal is making the Pascal Coin have a near infinite scalability.
  • The Pascal Coin allows users to send value on a peer2peer basis without involving centralized organizations such as banks. This means that the cost of sending value is lower and the process completes faster.
  • As one of the fastest cryptocurrencies, the Pascal Coin has excited the market so much. More stores have come out to support it because they are sure of clearing their clients without delays. Therefore, it is part of their customer value enhancement strategies.
  • The Pascal Coin allows users to send value without worrying about third-party seizures. The system uses advanced encryption and the SafeBox only stores the latest 100 blocks. This implies that is a transaction is in the previous blocks, there is no way third parties can pull out the details.
  • The Pascal Coin network is led by a tech-savvy team that progressively works on new features to help take the industry to the next level. This focus has won it support the cryptocurrency community that has been pushing up the demand for the native coin.

How can Pascal Coin be categorized?

The Pascal Coin is the next generation cryptocurrency and decentralized platform that targets to take the industry to the next level. Though the platform was targeted at addressing the issue of scalability, it has also provided a reliable solution for cross-chain transactions.

The interesting thing is that the architecture of the platform has been simplified so much so that every business can plug into the Pascal Coin system and start enjoying the benefits of the blockchain technology. Note that you can also launch own tokens on the Pascal Coin platform just like it happens at Ethereum.

What’s Pascal Coin’s vision on Security

The Pascal Coin’s vision on security is to become the most progressive and secure cryptocurrency network in the industry. The development team adopted the following strategies to help achieve this vision:

  • The platform uses a SafeBox that makes almost impossible to forge. Because the SafeBox only maintains the last 100 blocks, an attacker who wants to forge it would need to re-mine the entire blockchain including those that are no longer in the record. This is nearly impossible.
  • The platform uses advanced encryption that helps to cover user details to prevent unauthorized access. Even when miners follow back to confirm a transaction, they can only check the balances on the public addresses.
  • The network is led by a tech team that progressively reviews the network to identify vulnerabilities and close them to ensure that attackers do not take advantage of emerging gaps.

Examples of Pascal Coin’s use cases / applications

To assess the effectiveness of a cryptocurrency, one of the top methods is looking at its applications in the society. In the case of Pascal Coin, here are the main use cases.

  • Use the Pascal Coin to pay for transaction fee on the native network. The fee goes to supporting the platform’s development.
  • You can use the Pascal Coin to pay for goods and services in the stores that accept the coin. Note that even if only a different coin is accepted in the selected store, it is still possible to pay by using exchanges to convert to the supported token.
  • Use Pascal Coin as an investment. For people looking forward to investing in the crypto niche, the Pascal Coin is one of the top options in the market.
  • Trade the Pascal Coin in the market. Check for exchanges that support Pascal Coin and pair them with other tokens such as Ripple and Ethereum.
  • Use the Pascal Coin to pay for taxes in jurisdictions that support digital coins. Good examples include Arizona and Singapore.

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