ECC is being described as a next-generation blockchain cryptocurrency that uses mesh networks (independent side-chains) to achieve network consensus and scalability. Think Ethereum-esque confirmation times (less than 1 minute) minus the congestion during high demand ICOs and pussy-cat trading. What’s even better ECC is more than just another digital currency. It’s a multi-layered blockchain that sets up the building block for many other cool applications, like file storage, messaging and mail.
- File Storage
Data storage is currently centralized with major players like Amazon, Dropbox, and Google. These companies own 100% of the data that you store with them and will often times "share" them with advertisers, data brokers and government institutions. (you provided your authorization during the signup process).
ECC goal is to split files into pieces (encrypted) and save them across various hosts (holders of ECC) to make sure they’re always available and safe. Even if someone does get a hold of your files, it would take a hundred years from them to unencrypt it, if even possible.
- Private Messaging Platform
Another application that is offered by ECC is a decentralized censorship-resistant messaging. Messaging today isn't totally private, and the government could easily tap into our messaging and internet activity. Internet companies are also selling our data to the highest bidders. With the recent change to net neutrality in the US, censorship will get worse while privacy will continue to diminish.
- Address Name Service (ANS)
At the present time cryptocurrency wallet address is identified via a public key (ie: XnwSigBbbdTszjzPgTAV5W2mZ8N5FJoyG8). This ensures that transactions are delivered to the corrected party, but they are hard to memorized or give to others for the receipt of payments. This is one of the reasons why cryptocurrency hasn't gained "mass adoption" as yet. Most people who aren't comfortable with technology do not understand and are often times confused or feel intimidated by the concept of public keys and personal wallets, on the other hand, people are comfortable with the idea of "usernames".
ECC solves this public key problem with its ANS (Address Name Service), which maps a chosen “username” to a wallet address.
So if your ECC wallet address is XnwSigBbbdTszjzPgTAV5W2mZ8N5FJoyG8, you can set up your ANS to be "TheCoinAlley", and people can send payments directly to "TheCoinAlley".
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