Cryptocurrency world has seen tremendous growth in the past 1 year. Billions of dollars pouring into it everyday, big business like banking start to notice the groundbreaking technology behind it. While many people are rich from cryptocurrency trading, some also went bankrupt. But generally, the market are bullish and We’d like to think that it will keep bullish for many years to come. Lots of new trader or investor are looking for the next big thing, based on coinmarketcap.com there are 856 cryptocurrency available today, but many of those 856 coins are actually scam, worthless or outright dead without any development. In this article We will explain about Espers, a cryptocurrency which uses its own algorithm and also use hybrid proof of work (PoW) and Proof of Stake (PoS) system.
Espers first announcement was on April 2016, the development team behind espers are cryptocoderz , cryptocoderz are group of crypto enthusiast which aim to deliver new technology on the blockchain in general.
The original chain is known with the ticker ESP1, this original chain had many errors and fixing those errors will require more effort than to just start over with a new and clean chain. There was swap for the ESP1 to ESP2 so anyone who own ESP1 can swap their coin 1:1 into ESP2.
The new chain is using ticker ESP2 (Warning! If you are on yobit.net, DO NOT buy espers there as it is an old chain (ESP1) and yobit.net refuses to update the chain to a new one). The new chain is based upon bitcoin version 0.10+ with added blackcoin reference for the proof of stake functionality.
Currently, ESP are traded on :
Currently, The coin are still in alpha version, so a lot of ongoing development are taking place as we speak. The dev team already release Espers roadmap, which include:
On Chain messaging system
This will enabled users to send message through their wallet to other wallet users. The plan is to make it a secure messaging platform on the blockchain. This will be extremely useful if you need to purchase something privately.
Android mobile wallet will be released some times on June 2017. iOS wallet coming soon.
Website on blockchain
Decentralized website. Plan to make espers to be able to host website on blockchain.
Sidechain and Chain apps
A Sidechain is an independent chain from its main chain. Sidechain will allow movement of value, which will be pegged to the main chain, to freely move it to Espers network as well as other sidechain without any trusted third party necessary.
Masternodes will be implemented in the future. It’s still on development at the moment so we don’t have any information on how much it will cost to run a masternode.
Built in mining
With built in mining, you will be able to mine Espers with your GPU with a simple setup from the wallet.
Espers will use HMQ1725 (Highly Modified Quark 17 algorithms 25 hash rounds) algorithm. This algorithm is created by Cryptocoderz team and it was made specifically for Espers. There is also another hashing algorithm to be made named “Scatter” which is still under development.
Espers has an active community on discord, if you are interested in this coin and wanted to get more information, you can join Espers discord channel here. The main dev usually active on dev to answer all of your questions.
Espers are using QT-based wallet, with some nice design. A couple of standard menu you usually found on QT wallet can also be found on the windows wallet. Unique feature such as site on chain, mining on wallet and secure messaging will be available soon.
Complete guide on how to mine Espers can be found here.
Espers for long term investment?
In short, yes we recommend you to invest in Espers if you are willing to wait. We see it as a long term investment, not short term pump and dump scheme. We are basing this on several points on what make this a good long term investment:
- It is still on early stage of development, the key for huge gain in cryptocurrency investment is to get in early.
- It has dedicated and active dev team, which you can easily approach via discord.
- The price is really cheap at the moment, trading at 3-4 satoshi. Any coin with active development and trade under 10 satoshi is a steal.
- The community is really active and supportive. Member on discord generally will be able to help you in case you have any problem such as wallet sync issue etc.
We’d like to think of Espers as hidden gem among pile of garbage. Many cryptocurrency today exist only for one purpose: Quick money grab to scam new investor, but Espers is definitely not one of those cryptocurrency. If you can wait a couple of month from now, you will see a good return of investment. Our target: At least 1000% profit in 6-12 month.