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What Is ESPERS (ESP)?
Espers is a Proof-Of-Work/Proof-Of-Stake (PoW/PoS) hybrid blockchain that was created to be a solution to the division and lack of usability that is currently attributed to blockchain technology, both unifying and expanding possibilities. Implemented features such as secured messaging, cross-chain interfacing, modular sidechains, websites on the chain, file storage on the chain, to name a few are then joined through a universal interface that any coin project may then participate in. Using ESP (Espers) coins as “fuel” or a catalyst that drives the services that the chain operates further stimulates the interest in contributing to processing blocks for the network. Miners/Stakers are encouraged to participate causing consistent block generation and ensuring a lightning-fast network overall. It means that people can choose whether they want to mine Espers using GPU or CPU (Proof of Work), or Staking it by letting their wallet unlocked and act as a node (Proof of Stake).
Who Are the Founders of ESPERS?
What Makes ESPERS Unique?
Espers' utilizes a hybrid between Proof Of Work (PoW) and Proof Of Stake (PoS) to achieve distributed consensus. PoW/PoS Hybrid, known typically as just a “hybrid” distribution method, shuffles both PoW and PoS together onto a singular blockchain. Hybrid systems are still relatively new, as few blockchains employ a robust enough difficulty algorithm which adjusts the time span between generated blocks for either PoW or PoS and in this case both in unison. A custom difficulty retargets algorithm known as “VRX” was created for and by Espers in order to allow for the proper shuffling of generated block types within a full hybrid blockchain. By doing so the security of Espers is substantially increased as PoW and PoS complement each other’s shortcomings, allowing the blockchain a significant edge over one operating singularly on a particular method
How Many ESPERS (ESP) Coins Are There in Circulation?
There is a maximum supply of 50 billion ESP — but at the time of writing, there was a circulating supply of about 22.8 billion.
How Is the ESPERS Network Secured?
One of the advantages of using hybrid Proof of Work and Proof of Stake rests on the claim that it is nearly impossible to get a 51% network attack. So 51% network attack is an attack targeted to a blockchain. This attack is usually done by a miner or group of miners that are controlling 50% of a network's mining hash rate. With a successful 51% attack, the attacker will be able to halt transaction confirmations, reverse completed transactions, and theoretically be able to double-spend the coins. This type of attack usually happens to new coins with a low network hash rate. With PoW and PoS hybrid, unless someone had the majority of PoW hash rate AND the majority of PoS rate, and also met the parameter set by Velocity system, it’s nearly impossible for Espers to be attacked. With the Espers hybrid system, an attack on the PoW block will cause the chain to re-target, resulting in only in temporary control of the block. Meanwhile, an attack on the PoS block will require an astronomical amount of money. With this system, Espers is way more secure to 51% network attack than other coins that using purely PoW/PoS consensus.
Where Can You Buy ESPERS (ESP)?
You can find the exchanges on which esp is traded HERE.