The development of means of payment is not always visible and has taken various forms. From crisp banknotes, humanity has moved on to checks. More and more, one or two compact credit cards are being used instead of bulky wallets. Rather than passing money from hand to hand, we send payments by wire transfer more frequently. Previously, it was not always possible to know who had created these ideas. And implementing innovations has sometimes taken decades.
Today, in the age of digitization, fundamental changes are taking place in the eyes of the public. For the first time, humanity is on the cusp of creating a cryptocurrency that can function broadly at the same level as cash, or even replace fiat money. And no less important, the ideological leader and main visionary behind the project is well known.
Rebirth of Satoshi Nakamoto’s ideas
Amaury Séchet is a man capable of disrupting the concept of the future of blockchain in the economy. In his project, we can observe the birth of technology, which is intended to follow the ideals initially set out by Satoshi Nakamoto.
Relieving the Internet from the need for a banking system for online payments was one of the key motives for the creation of Bitcoin. But when you look at today’s cryptocurrency platforms, most of them take the path of least resistance and train Bitcoin’s privacy and security ideals in the area of bank payments. and accountability to regulators.
However, Amaury believes that principles must come first. He does not compromise his beliefs to increase his popularity or to align himself with militant groups. Cryptocurrencies are about anonymity; about encryption; on the inability of governments and banks to get hold of people’s wallets. By refusing to support the removal of transactions outside the blockchain network, he has earned a reputation as a man who goes against the system. As he said, “You cannot betray your values and your users. “
Bitcoin is still popular. But if you ask the average user if they want to pay for goods and services with this cryptocurrency, the answer will likely be “No” or “No way”. The main reason for this reaction could be the perception that Bitcoin is a speculative tool. Why would you donate something that could increase in price tenfold over time? Bitcoin’s excessive volatility, enormous transaction confirmation time, and scaling challenges have led to a host of competitors who would not miss the opportunity to carve out a niche in the market.
Separating from Bitcoin to create something Bitcoin was meant to be
Amaury created Bitcoin Cash with the 2017 bitcoin fork, and as the lead developer, he worked to improve it. He explored all the strengths and weaknesses of the project and faced the reluctance of managers to tackle vulnerabilities in the system. Amaury is not the only one to have noticed it. But unlike many, he couldn’t stand it.
It may seem to some that leaving this project was not financially beneficial. But when it comes to creating the future of the crypto industry, you can’t just look at the financial side of things. As Amaury admitted, leaving Bitcoin Cash was a difficult step, and building his own project was nonetheless a challenge. After all, it aimed to shatter stereotypes of the existing blockchain ecosystem.
90% of a startup’s success depends on who is at the helm. Amaury Séchet has decades of experience in developing the leading cryptocurrency and is an expert in his field. If you add to that the knowledgeable development team with a proven track record and the initiative to put Bitcoin back in the service of ordinary people, rather than governments and businesses, you get eCash.
After a recent rebranding, his company is ready to show the world what blockchain technology can really do. Moving away from the beaten track of mining, the start-up is ready to redefine the concept of digital currency in the minds of its users.
Faster transactions, lower fees and energy saving technologies
It took a year to figure out all the intricacies of proof of stake and protocol management, but the payoff is well worth it. Transaction validation time will be reduced to less than one second. In addition, eCash is able to support a large number of transactions per unit of time.
Recently, the global community has become concerned about the increasing amount of electricity consumed by mining, which is having a negative impact on the environment. Truly modern projects are designed to combat polluting processes. The result of Amaury’s work was able to bypass the mistakes of his predecessors through the use of Proof of Stake technology.
Particularly noteworthy is the revolutionary consensus algorithm, Avalanche. It offers increased security and forkless updates. The predecessors of eCash lost a significant part of their followers due to persistent divisions (forks). Avalanche brings technically sound and politically decentralized governance to the eCash protocol.
It has been four years since the Bitcoin network split and the formation of Bitcoin Cash. Amaury Séchet attacked everyone by refusing to support the deletion of transactions outside the blockchain network. He’s still adamant in his philosophy and believes that 99% of crypto projects today have nothing to do with what digital money really should be.
Innovative and successful technologies have humble beginnings, just like their designers. The process of forming and developing such technologies is often fraught with pitfalls and involves bringing together diverse groups of like-minded individuals. This is illustrated by Skype with its isolated beginnings as a small project based in Estonia. Amaury Séchet is one such developer who was exiled from the project he created and is now determined to bring cryptocurrencies back to their roots.
His name is not on the radar of millions of people, but Amaury is the man who dictates the script for the evolution of blockchain technology. If you passed him on the street, you might walk past him without recognizing this extraordinary man. Even in the shadows, he can bring cryptocurrencies back to their origins. History is being made before our eyes. After all, the world has never come so close to forming a secure, publicly accessible payment method that does not fear government scrutiny or censorship. Be silent witnesses to this process or stay in tune with the times and join the flow of the first eCash users: the choice is up to us.
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