ESPERS $ESP - A Simplified Review - Why it has Potential!
What is up everybody? It's, Ken the Crypt, so here bringing to you a review of espers, I've, been getting some recommendations of vespers, so I checked it out. The community, I know, is a strong community.
There's, been a lot of people talking about espers, but lately it's been going down, so I think it's, the best time to talk about it right now. I do love to talk about projects that don't have so much hype lately and later on, gets hype so that's.
What I'm all about, but anyways, let's. Talk about esperance, valued at 4 Satoshi's; market cap at 8 million circle, a supply of 21 billion mac supply of 50 billion that is gonna, be the supply that will ever be made.
That will ever exist in espers and i think that they're gonna they have like a 30 year plan for this whole 50 billion. So I mean it's, a very, very long term project. This is not the project to just kind of you know, pump and dump, because you know it took a while for experts to get from.
Like you know, lesson 1 Satoshi to a high of 30 takes so like that. That's a 36 X and yeah. These guys just have a lot more plan to go. They were very pretty have a pretty a very simplified white paper because in the white paper talks about a lot of technical stuff that they're implementing.
But in a way they did a great job of just really simplifying that to readers, which I think should be a lot of white - should be a lot of white papers. Really a lot of white paper should make it very simple: to read for most people, even though there's like the tech, it's like complex, like don't.
Get me wrong. Like blockchain technology is pretty complex. If you're, if you don & # 39, t know anything about the technology. If you're new to it, if you're, just like a person who doesn't code or program, it's very complex.
But if you can somehow put it together and just you know, make it simple for people to read and people to research, then you will get more investors. That's, just kind of my advice for projects and that's.
Why? I come that's kind of an opinion, but anyways let's check the social, real, quick Twitter for 5,000 897 followers. Pretty active engagement right here, constantly updating every single day active community because it's, a community that tweets about the most the NS precious retweet them, so that's good for them ready.
Also, we have 619 readers so also pretty somewhat active 8 days ago. Was the last update here. I'm about to put my video up here in a second once this is done, but yeah github is fairly active, um, not too much activity going on.
The last update, I believe, was like 10-15 days ago, so they did some work on that. I don't know I don't know if they need some work on that, but you know at least they're, just putting up stuff telegram, also 2191 members.
So still pretty small, but you know, like I said again: there's, been people that talk about s first, so let's just get on with it right. I'm gonna try to you know, talk about it as fast as I can, and basically it just me summarized in the white paper talking about the website talking about the wallet so yeah let's, get on with it.
So what is s versus? Basically, it's, a P oo, w POS proof of work, proof of steak, hybrid blockchain that solves the problems of the vision and lack of usability with the current blockchain. Now it has features such as secured messaging, cross-chain, interfacing modular side chains, website on the chain, file, storage and more to come, which I will explain in a little bit.
So we are over here in the white paper and, like I said it's. A pretty long read and it's kind of a you cannot to read, slow and probably have to read twice for you to fully understand it, but I'm gonna simplify it in my terms, so Satoshi Nakamoto, the creator of Bitcoin, as you all know week, basically, his vision was to have a truly unique technology, not just focus on revenue but the technology itself and how it can change the world that's.
Why I created the blockchain, so this became the opposite as more and more block chains came to exist in people became more focus on the money and the revenue not so much more on the vision itself and the vision is really why blockchain has became so big.
It's, why it started the. Why is always where it starts, but somehow it's changed to money, and I can understand that see how the market is today that them it's all about the money money, the money, short-term money.
Also, a lot of people think that the public ledger is only used for recording transactions. It is also used to provide transparency to the public, to provide trust to the public that the information gathered is jits, so that's, really the vision, and that is really Esper's.
Why and why they created this project. Most of you have probably heard of this proof of work and proof of stake, but I'm gonna briefly. Explain it for those of you who are kind of beginners to you, know what it who don't know what it is so P, o W or proof of work is basically people contributing their computer power in the form of hash or hashing.
This is where the term hashing a block of the blockchain comes. True. People are rewarded for correctly submitting blocks that are accepted by the network and then confirmed, but the problem with this is that it is possible to attack the blockchain because it controls what information is in the blocks being mined and submitted.
That means bad blocks now. How does proof of stake, work or POS? Basically, it uses coins that an individual person holds to generate a block resulting in them owning more coins. Basically, the person is allowing his or her wallet to be online to support the network, and it does this by randomly selecting the coins to be temporarily available, while the wallet makes a block in turn, the person gets paid.
So you're, essentially like kind of lending the amount of coins you have to the network. You know if you can't use that it's like like a bank, you're, putting your money there. You're, letting the bank kind of borrow it and in turn you'll get interest, but the difference between proof of stake in a bank is that you & # 39.
Ll get rewards, you'll, get way more rewards. You'll, get way more compensation in a proof of stick environment, but the problem with proof of stick is that it is costly to obtain a stake depending on the project, because you need a lot to make a significant reward.
You know if you have a if you have a pretty low amount to stake, it doesn't matter, really how much you have a stake, but if you have a pretty low amount, you're, not gonna get rewarded as much As someone who has lis, you know like lots, but how does a proof of stake proof of work? Hybrid work which is Esper's? Basically, it just takes both technologies and they put it together in a single blockchain and they complement each other and make up for each other's drawbacks, because each one has drawbacks.
But if you could put them both, then they can just fix each other's flaws. Now let's. Talk about terminal velocity rates X or VR X. In simple terms, it's, kind of it's kind of its kind of complicated to read, but in simple terms, it allows for block spacing to make sure that blocks are generated at a consistent pace.
This means that it solves the problems such as a sudden increase in hash rate or difficulty and network fees. It could be high or low. It just solves our problem. You know. Sometimes you'll, see a network feel like it's.
Just spiked up when a lot of people are using it, that is what VR X is for, is supposed to fix that it's supposed to make it consistent. Now let's. Talk about your side chains and cross chains right side chain is basically a smaller block chain that rely on the main chain.
So as first approach, this is to have side chains function independently by itself without the need for a parent block chain. So a cross chain is able to transmit data from one block chain to another, and each chain can share workloads while being independent of each other.
Basically, the whole point of what espera is trying to do is to make different types of chain independent of one another, so that if there are any failures, would one chain they can still remain operational instead of collapsing all together when one has a problem, so I Mean that is essentially what its gonna look like.
So now let's. Talk about secure messaging! That Esper will have so. The problem right now with secure messaging is that only a few of them use the chains algorithm to encrypt messages right so Ezra does this by binding the messages to a private key where messages are sent much faster and you don't need a Work load of a block chain in this case, other projects means of secure messaging means that they have to use a block chain, but for espera you don't need to use a block chain.
You just use a private key to bind those messages in a secure manner, which means for a faster and more efficient way to send messages so for the site on Shane, I'm. Explain that the problem right now is the web traffic is not encrypted or secured.
So espera solves this by making any Internet related service be operated and stored on the blockchain now for the lightweight mobile blockchain. So the problem right now the block chains - is that as it grows, it gets heavier and more limitations begin to show up as not storing enough information.
So what lightweight or mobile block shades do? Is they act as an access portal rather than any local? So you can sync a blockchain into another blockchain now for the chain: apps, it's. Basically Esper's, ability to plug any kind of blockchain app into itself and grow in capabilities.
So I mean you could call it a blockchain inception. Now for the X nodes, now you've heard of master nodes. They're somewhat similar in a sense, except that in X, nodes you don't have to have a specific balance where master nodes you do in X, nodes the more balanced a person has on a node the faster that person can Get rewarded and the smaller the balance a person has the slower the person gets rewarded.
Now, as for the road map, they still have a long way to go, and this is the main stuff that's. Gon na be implemented in q1, q2 and q3 of 2018. Now, as for the team, this is where it comes high risk, because you don't know who the people are you don't know who these guys are exactly so that is where you know the speculation happens, because the team is Not there and also the road map is not there like.
I said I would regard this project as high risk. Now this is what their wallet looks like and mine is still sinking, but you know I just installed it directly and you know, while it looks pretty clean, as you can see here, this is our options that are gonna show up later messaging chain info side.
On Shane's Oh coming soon, but then, while it looks pretty clean and you know still have a lot of development ahead of them, but right now the price is very, very lowest for Satoshi I don't, think you get any Lower than two Satoshi, in my opinion - and this project is meant for long term guys, it is a community driven project and I think that's.
What the team is all about. The team is guided by the community and these guys don't. Do this full-time, I would assume, because they don't, have a big team right and they don't show their faces so, like I said, high risk, but that's up to you to take your high risk and, Like I said, high risk high reward, I am NOT invested in espera just yet.
I'm just making this video to make a review and to kind of spread some lights on Esper's and explain what is to add some value to the community but anyways. Let me know what you think of this project.
Let me know what project you think I should review hit the like button. If you liked the video subscribe, if you want to see more in peace,