Uses customized personal electronic devices and networked computers using advanced encryption technologies to conduct electronic transactions in the blink of an eye.
First, it is a digital currency, which can be integrated into almost all electronic payment tools including credit cards, debit cards, ID cards, consumer cards, telecom cards, utilities cards, e-wallets, internet currencies, smart cards and so on. Second, if there is an industry that has never slowed down but becomes more prosperous with the passing of time, it is the internet financial digital currency industry.
Eplus Coins protocols and software are publicly available, any developers around the world can view its code, or develop their own modified version of Eplus Coin software. So today, the identity of the inventor of Eplus Coin may be the same as the identity of the inventor of the paper.
Nobody owns the Eplus Coin network much like no one owns the technology behind email. Eplus Coin is controlled by all Eplus Coin users around the world. While developers are improving the software, they can not force a change in the Eplus Coin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Eplus Coin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.
This is an innovative trading platform, with a unique business philosophy ahead of the marketing model, which will lead the way forward for consumer payments. Our platform management team comprises of strong and experienced top financial experts from overseas. Building a new platform, creating new business opportunities, the team is going to make the Eplus Coin trading platform the worlds’ most comprehensive trading platform. By integrating virtual malls, physical malls, online gaming and third-party payment platforms, with Eplus Coin and the trading platform as the center, they form a perfect eco-system. Among them, third-party payment platform offers a range of application program interfaces to integrate a variety of bank card payments into one interface, to make online shopping faster and more convenient.
Eplus Coin integrates of E-malls, physical businesses, online game entertainment and third-party payment platform, using Big Data as its core, forming a perfect eco-system. Among them, third-party payment platform offers a range of application program interfaces to integrate a variety of bank card payments into one interface, responsible for settlement of transactions with banks to make online shopping faster and more convenient.
While it may be possible to find individuals who wish to sell Eplus Coins in exchange for a credit card or PayPal payment, most exchanges do not allow funding via these payment methods. This is due to cases where someone buys Eplus Coins with PayPal, and then reverses their half of the transaction. This is commonly referred to as a chargeback.
We have developed a multi-currency e-wallet called Big Time. Bitcoin has its own e-wallet, but our multi-currency e-wallet can be used to store multiple digital currencies. Big Time e-wallet is an application created and designed for Eplus Coin users. In a nutshell, Big Time e-wallet is a must-have for Eplus Coin investors.
You should never expect to be rich through Eplus Coin or any emerging technology. It is always important to be vigilant about anything that sounds so incredible or contrary to the basic economic laws.
Eplus Coin is a growing area of innovation, where there are business opportunities, but also risk. Although Eplus Coin is growing at a rapid pace, no one can guarantee that it will continue to grow. Any investment in Eplus Coin requires an entrepreneurial spirit which consumes time and money. There are many ways to make money with Eplus Coin, such as mining, speculating or running a new business. All of these methods are very competitive and have no profit guarantee. Everyone should make an appropriate assessment of the costs and risks involved in any such project.
Eplus Coin is designed to allow its users to send and receive payments with an acceptable level of privacy as well as any other form of money. However, Eplus Coin is not anonymous and cannot offer the same level of privacy as cash. The use of Eplus Coin leaves extensive public records. Various mechanisms exist to protect users privacy, and more are in development. However, there is still work to be done before these features are used correctly by most Eplus Coin users.
Some concerns have been raised that private transactions could be used for illegal purposes with Eplus Coin. However, it is worth noting that Eplus Coin will undoubtedly be subjected to similar regulations that are already in place inside existing financial systems. Eplus Coin cannot be more anonymous than cash and it is not likely to prevent criminal investigations from being conducted. Additionally, Eplus Coin is also designed to prevent a large range of financial crimes.
When a user loses his wallet, it has the effect of removing money out of circulation. Lost Eplus Coins still remain in the blockchain just like any other Eplus Coin. However, lost Eplus Coins remain dormant forever because there is no way for anybody to find the private key(s) that would allow them to be spent again. Because of the law of supply and demand, when fewer Eplus Coins are available, the ones that are left will be in higher demand and increase in value to compensate.
The Eplus Coin network can already process a much higher number of transactions per second than it does today. It is, however, not entirely ready to scale to the level of major credit card networks. Work is underway to lift current limitations, and future requirements are well known. Since inception, every aspect of the Eplus Coin network has been in a continuous process of maturation, optimization, and specialization, and it should be expected to remain that way for some years to come. As traffic grows, more Eplus Coin users may use lightweight clients, and full network nodes may become a more specialized service.
To the best of our knowledge, Eplus Coin has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Eplus Coin exchanges.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system. For example, the Financial Crimes Enforcement Network (FinCEN), a bureau in the United States Treasury Department, issued non-binding guidance on how it characterizes certain activities involving virtual currencies.
Eplus Coin is money, and money has always been used both for legal and illegal purposes. Cash, credit cards and current banking systems widely surpass Eplus Coin in terms of their use to finance crime. Eplus Coin can bring significant innovation in payment systems and the benefits of such innovation are often considered to be far beyond their potential drawbacks.
Eplus Coin is designed to be a huge step forward in making money more secure and could also act as a significant protection against many forms of financial crime. For instance, Eplus Coins are completely impossible to counterfeit. Users are in full control of their payments and cannot receive unapproved charges such as with credit card fraud. Eplus Coin transactions are irreversible and immune to fraudulent chargebacks. Eplus Coin allows money to be secured against theft and loss using very strong and useful mechanisms such as backups, encryption, and multiple signatures.
Some concerns have been raised that Eplus Coin could be more attractive to criminals because it can be used to make private and irreversible payments. However, these features already exist with cash and wire transfer, which are widely used and well-established. The use of Eplus Coin will undoubtedly be subjected to similar regulations that are already in place inside existing financial systems, and Eplus Coin is not likely to prevent criminal investigations from being conducted. In general, it is common for important breakthroughs to be perceived as being controversial before their benefits are well understood. The Internet is a good example among many others to illustrate this.
The Eplus Coin protocol itself cannot be modified without the cooperation of nearly all its users, who choose what software they use. Attempting to assign special rights to a local authority in the rules of the global Eplus Coin network is not a practical possibility. Any rich organization could choose to invest in mining hardware to control half of the computing power of the network and become able to block or reverse recent transactions. However, there is no guarantee that they could retain this power since this requires them to invest as much than all other miners in the world.
It is however possible to regulate the use of Eplus Coin in a similar way to any other instrument. Just like the dollar, Eplus Coin can be used for a wide variety of purposes, some of which can be considered legitimate or not as per each jurisdiction is laws. In this regard, Eplus Coin is no different than any other tool or resource and can be subjected to different regulations in each country. Eplus Coin use could also be made difficult by restrictive regulations, in which case it is hard to determine what percentage of users would keep using the technology. A government that chooses to ban Eplus Coin would prevent domestic businesses and markets from developing, shifting innovation to other countries. The challenge for regulators, as always, is to develop efficient solutions while not impairing the growth of new emerging markets and businesses.
Eplus Coin is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise with Eplus Coin.
Eplus Coin is freeing people to transact on their own terms. Each user can send and receive payments in a similar way to cash but they can also take part in more complex contracts. Multiple signatures allow a transaction to be accepted by the network only if a certain number of a defined group of persons agree to sign the transaction. This allows innovative dispute mediation services to be developed in the future. Such services could allow a third party to approve or reject a transaction in case of disagreement between the other parties without having control on their money. As opposed to cash and other payment methods, Eplus Coin always leaves a public proof that a transaction did take place, which can potentially be used in a recourse against businesses with fraudulent practices.
It is also worth noting that while merchants usually depend on their public reputation to remain in business and pay their employees, they do not have access to the same level of information when dealing with new consumers. The way Eplus Coin works allows both individuals and businesses to be protected against fraudulent chargebacks while giving the choice to the consumer to ask for more protection when they are not willing to trust a particular merchant.
New Eplus Coins are generated by a competitive and decentralized process called "mining". This process involves that individuals are rewarded by the network for their services. Eplus Coin miners are processing transactions and securing the network using specialized hardware and are collecting new Eplus Coins in exchange.
The Eplus Coin protocol is designed in such a way that new Eplus Coins are created at a fixed rate. This makes Eplus Coin mining a very competitive business. When more miners join the network, it becomes increasingly difficult to make a profit and miners must seek efficiency to cut their operating costs. No central authority or developer has any power to control or manipulate the system to increase their profits. Every Eplus Coin node in the world will reject anything that does not comply with the rules it expects the system to follow.
Eplus Coins have value because they are useful as a form of money. Eplus Coin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies). In short, Eplus Coin is backed by mathematics. With these attributes, all that is required for a form of money to hold value is trust and adoption. In the case of Eplus Coin, this can be measured by its growing base of users, merchants, and startups. As with all currency, Eplus Coin is value comes only and directly from people willing to accept them as payment.
Yes. History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar. Although previous currency failures were typically due to hyperinflation of a kind that Eplus Coin makes impossible, there is always potential for technical failures, competing currencies, political issues and so on. As a basic rule of thumb, no currency should be considered absolutely safe from failures or hard times. Eplus Coin has proven reliable for years since its inception and there is a lot of potential for Eplus Coin to continue to grow. However, no one is in a position to predict what the future will be for Eplus Coin.
A fast rise in price does not constitute a bubble. An artificial over-valuation that will lead to a sudden downward correction constitutes a bubble. Choices based on individual human action by hundreds of thousands of market participants is the cause for Eplus Coin is price to fluctuate as the market seeks price discovery. Reasons for changes in sentiment may include a loss of confidence in Eplus Coin, a large difference between value and price not based on the fundamentals of the Eplus Coin economy, increased press coverage stimulating speculative demand, fear of uncertainty, and old-fashioned irrational exuberance and greed.
Some early adopters have large numbers of Eplus Coins because they took risks and invested time and resources in an unproven technology that was hardly used by anyone and that was much harder to secure properly. Many early adopters spent large numbers of Eplus Coins quite a few times before they became valuable or bought only small amounts and did not make huge gains. There is no guarantee that the price of a Eplus Coin will increase or drop. This is very similar to investing in an early startup that can either gain value through its usefulness and popularity, or just never break through. Eplus Coin is still in its infancy, and it has been designed with a very long-term view; it is hard to imagine how it could be less biased towards early adopters, and today is users may or may not be the early adopters of tomorrow.
The deflationary spiral theory says that if prices are expected to fall, people will move purchases into the future in order to benefit from the lower prices. That fall in demand will in turn cause merchants to lower their prices to try and stimulate demand, making the problem worse and leading to an economic depression.
Although this theory is a popular way to justify inflation amongst central bankers, it does not appear to always hold true and is considered controversial amongst economists. Consumer electronics is one example of a market where prices constantly fall but which is not in depression. Similarly, the value of Eplus Coins has risen over time and yet the size of the Eplus Coin economy has also grown dramatically along with it. Because both the value of the currency and the size of its economy started at zero in 2009, Eplus Coin is a counterexample to the theory showing that it must sometimes be wrong.
Not withstanding this, Eplus Coin is not designed to be a deflationary currency. It is more accurate to say Eplus Coin is intended to inflate in its early years, and become stable in its later years. The only time the quantity of Eplus Coins in circulation will drop is if people carelessly lose their wallets by failing to make backups. With a stable monetary base and a stable economy, the value of the currency should remain the same.
This is a chicken and egg situation. For Eplus Coin is price to stabilize, a large scale economy needs to develop with more businesses and users. For a large scale economy to develop, businesses and users will seek for price stability.
Fortunately, volatility does not affect the main benefits of Eplus Coin as a payment system to transfer money from point A to point B. It is possible for businesses to convert Eplus Coin payments to their local currency instantly, allowing them to profit from the advantages of Eplus Coin without being subjected to price fluctuations. Since Eplus Coin offers many useful and unique features and properties, many users choose to use Eplus Coin. With such solutions and incentives, it is possible that Eplus Coin will mature and develop to a degree where price volatility will become limited.
Only a fraction of Eplus Coins issued to date are found on the exchange markets for sale. Eplus Coin markets are competitive, meaning the price of a Eplus Coin will rise or fall depending on supply and demand. Additionally, new Eplus Coins will continue to be issued for decades to come. Therefore even the most determined buyer could not buy all the Eplus Coins in existence. This situation is not to suggest, however, that the markets are not vulnerable to price manipulation; it still does not take significant amounts of money to move the market price up or down, and thus Eplus Coin remains a volatile asset thus far.
That can happen. For now, Eplus Coin remains by far the most popular decentralized virtual currency, but there can be no guarantee that it will retain that position. There is already a set of alternative currencies inspired by Eplus Coin. It is however probably correct to assume that significant improvements would be required for a new currency to overtake Eplus Coin in terms of established market, even though this remains unpredictable. Eplus Coin could also conceivably adopt improvements of a competing currency so long as it does not change fundamental parts of the protocol.
Receiving notification of a payment is almost instant with Eplus Coin. However, there is a delay before the network begins to confirm your transaction by including it in a block. A confirmation means that there is a consensus on the network that the Eplus Coins you received have not been sent to anyone else and are considered your property. Once your transaction has been included in one block, it will continue to be buried under every block after it, which will exponentially consolidate this consensus and decrease the risk of a reversed transaction. Each confirmation takes between a few seconds and 90 minutes, with 10 minutes being the average. If the transaction pays too low a fee or is otherwise atypical, getting the first confirmation can take much longer. Every user is free to determine at what point they consider a transaction sufficiently confirmed, but 6 confirmations is often considered to be as safe as waiting 6 months on a credit card transaction.
This works fine. The Eplus Coins will appear next time you start your wallet application. Eplus Coins are not actually received by the software on your computer, they are appended to a public ledger that is shared between all the devices on the network. If you are sent Eplus Coins when your wallet client program is not running and you later launch it, it will download blocks and catch up with any transactions it did not already know about, and the Eplus Coins will eventually appear as if they were just received in real time. Your wallet is only needed when you wish to spend Eplus Coins.
Long synchronization time is only required with full node clients like Eplus Coin Core. Technically speaking, synchronizing is the process of downloading and verifying all previous Eplus Coin transactions on the network. For some Eplus Coin clients to calculate the spendable balance of your Eplus Coin wallet and make new transactions, it needs to be aware of all previous transactions. This step can be resource intensive and requires sufficient bandwidth and storage to accommodate the full size of the block chain. For Eplus Coin to remain secure, enough people should keep using full node clients because they perform the task of validating and relaying transactions.
Based on the production principles of Bitcoin and other virtual currencies, Bitcoin generates new bits through "mining". This so-called "mining" is essentially using a computer to solve a complex mathematical formula to ensure the coherence of the Bitcoin network distributed accounting system. Therefore, in order to obtain more "Eplus Coins", the company will specially develop a mining machine to generate new bits. On one hand the company will sell the mining machine, and on the other hand the company will continue to mine and produce new bits.
Anybody can become a Eplus Coin miner by running software with specialized hardware. Mining software listens for transactions broadcast through the peer-to-peer network and performs appropriate tasks to process and confirm these transactions. Eplus Coin miners perform this work because they can earn transaction fees paid by users for faster transaction processing, and newly created Eplus Coins issued into existence according to a fixed formula.
For new transactions to be confirmed, they need to be included in a block along with a mathematical proof of work. Such proofs are very hard to generate because there is no way to create them other than by trying billions of calculations per second. This requires miners to perform these calculations before their blocks are accepted by the network and before they are rewarded. As more people start to mine, the difficulty of finding valid blocks is automatically increased by the network to ensure that the average time to find a block remains equal to 10 minutes. As a result, mining is a very competitive business where no individual miner can control what is included in the block chain.
The proof of work is also designed to depend on the previous block to force a chronological order in the block chain. This makes it exponentially difficult to reverse previous transactions because this requires the recalculation of the proofs of work of all the subsequent blocks. When two blocks are found at the same time, miners work on the first block they receive and switch to the longest chain of blocks as soon as the next block is found. This allows mining to secure and maintain a global consensus based on processing power.
Eplus Coin miners are neither able to cheat by increasing their own reward nor process fraudulent transactions that could corrupt the Eplus Coin network because all Eplus Coin nodes would reject any block that contains invalid data as per the rules of the Eplus Coin protocol. Consequently, the network remains secure even if not all Eplus Coin miners can be trusted.
Spending energy to secure and operate a payment system is hardly a waste. Like any other payment service, the use of Eplus Coin entails processing costs. Services necessary for the operation of currently widespread monetary systems, such as banks, credit cards, and armored vehicles, also use a lot of energy. Although unlike Eplus Coin, their total energy consumption is not transparent and cannot be as easily measured.
Eplus Coin mining has been designed to become more optimized over time with specialized hardware consuming less energy, and the operating costs of mining should continue to be proportional to demand. When Eplus Coin mining becomes too competitive and less profitable, some miners choose to stop their activities. Furthermore, all energy expended mining is eventually transformed into heat, and the most profitable miners will be those who have put this heat to good use. An optimally efficient mining network is one that is not actually consuming any extra energy. While this is an ideal, the economics of mining are such that miners individually strive toward it.
Mining creates the equivalent of a competitive lottery that makes it very difficult for anyone to consecutively add new blocks of transactions into the block chain. This protects the neutrality of the network by preventing any individual from gaining the power to block certain transactions. This also prevents any individual from replacing parts of the block chain to roll back their own spends, which could be used to defraud other users. Mining makes it exponentially more difficult to reverse a past transaction by requiring the rewriting of all blocks following this transaction.
In the early days of Eplus Coin, anyone could find a new block using their computer is CPU. As more and more people started mining, the difficulty of finding new blocks increased greatly to the point where the only cost-effective method of mining today is using specialized hardware.
The Eplus Coin technology - the protocol and the cryptography - has a strong security track record, and the Eplus Coin network is probably the biggest distributed computing project in the world. Eplus Coin is most common vulnerability is in user error. Eplus Coin wallet files that store the necessary private keys can be accidentally deleted, lost or stolen. This is pretty similar to physical cash stored in a digital form. Fortunately, users can employ sound security practices to protect their money or use service providers that offer good levels of security and insurance against theft or loss.
The rules of the protocol and the cryptography used for Eplus Coin are still working years after its inception, which is a good indication that the concept is well designed. However, security flaws have been found and fixed over time in various software implementations. Like any other form of software, the security of Eplus Coin software depends on the speed with which problems are found and fixed. The more such issues are discovered, the more Eplus Coin is gaining maturity.
There are often misconceptions about thefts and security breaches that happened on diverse exchanges and businesses. Although these events are unfortunate, none of them involve Eplus Coin itself being hacked, nor imply inherent flaws in Eplus Coin; just like a bank robbery does not mean that the dollar is compromised. However, it is accurate to say that a complete set of good practices and intuitive security solutions is needed to give users better protection of their money, and to reduce the general risk of theft and loss. Over the course of the last few years, such security features have quickly developed, such as wallet encryption, offline wallets, hardware wallets, and multi-signature transactions.
It is not possible to change the Eplus Coin protocol that easily. Any Eplus Coin client that does not comply with the same rules cannot enforce their own rules on other users. As per the current specification, double spending is not possible on the same block chain, and neither is spending Eplus Coins without a valid signature. Therefore, It is not possible to generate uncontrolled amounts of Eplus Coins out of thin air, spend other users funds, corrupt the network, or anything similar.
However, powerful miners could arbitrarily choose to block or reverse recent transactions. A majority of users can also put pressure for some changes to be adopted. Because Eplus Coin only works correctly with a complete consensus between all users, changing the protocol can be very difficult and requires an overwhelming majority of users to adopt the changes in such a way that remaining users have nearly no choice but to follow. As a general rule, it is hard to imagine why any Eplus Coin user would choose to adopt any change that could compromise their own money.