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EGX fixes all the problems with all the existing cryptocurrencies once and for all. In particular it fixes the problems around security, environmental impact and ease of use that beset all other known blockchain-based cryptocurrency offerings.
- Security
Due to the unique way in which the EGX blockchain is constructed, EGX cannot be hacked and will never be hacked. Period. There are and never will be any security issues with EGX. No other cryptocurrency on or off the planet can claim this.
- Environment
Whether based on Proof Of Work or Proof of Stake, all other blockchains have a non-negligible and non-zero environmental impact. EGX however is based on neither of these. Instead it is based on Proof Of Existence, described below. PoE has a minimum environmental impact that is provably zero. Individual EGX implementations may have greater environmental impact than this, but that is entirely on the implementor. EGX PoE can be as low as zero if you wish, and we can prove this.
- Ease Of Implementation
Due to its unique properties, no other cryptocurrency is or ever will be easier to implement and work with as EGX. This is not an empty claim – again, we can prove this.
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Now here’s a cryptocurrency I can get behind. Shut up and take my money!
Hey, thanks for the repost!
As you may be aware, you already have 1 EGX. Everyone does.
Thanks! Yes! I’m going to hold on to my 1 EGX as an investment. I suppose that relatively-speaking it’s expected to decrease in value as a result of population growth, but that’s okay.
I experimentally tried sending 0.2 EGX to my partner and it worked flawlessly. If only all transactions could be so effortless!
That’s great news.
It just occurred to me that one of the other advantages of a zero-length blockchain is a 100% privacy guarantee. Might have to update the docs.
As for the investment value of EGX, that one’s a bit tricky. How can you value a coin where any actual purchase-type transaction becomes essentially a gift on the part of the seller. I *think* it’s either zero (you literally can’t give EGX away) or infinity (there is no upper limit to the purchasing power of your EGX), but it could equally be ‘any value you like’. Or all three at once.
One metric for its value comes from its lack of heritability. Because it’s technically impossible to leave my wallet to somebody upon my death, it’s immune from inheritance tax, regardless of the perceived value it might (or might not) hold while I’m alive. In that regard, it’s being assessed as worthless by countries.
Another thought: when did my balance become 1 EGX? At the point I agreed that I had it? Or earlier, when I discovered it existed? Or earlier, when it was invented? Or earlier, when I was born?
If it can be argued that the concept of tune coin was discovered, rather than invented, it follows that my ownership of some of the currency might predate the specification being written. Perhaps all living humans have always had 1 EGX, realised retroactively?
This is where the “joke” part of EGX shades suddenly and alarmingly over into the increasingly and unexpectedly “serious thought-experiment” part.
I agree that the lack of heritability would lead to it being assessed as worthless by countries.
I also agree that all living humans may always have had 1 EGX realised retroactively, and that EGX was more discovered than invented. Somewhere in the back of my mind when I wrote the spec was something, still not entirely coherent in my mind, to do with all human lives being a) equally valuable and b) infinitely more valuable than any non-human entity, including and especially things like corporations or states. Hence the minting rule and Cost of Receipt rule – 1 EGX per human, no more, no less, at all times.
This could be restated as ‘the value of 1 EGX is the same as the value of one human life.’
And as we agreed above, this is agreed to be assessed at zero by countries.