BlockTalks x EHash AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with EHash, on April 12th at 12.00 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Sushan, CMO of EHash. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce EHash to our community in layman’s term?
Ans — EHash was built by a team of miners who have rich experience and professions in the mining industry.
With the emergence of DeFi, we found there is a lack of products to bridge the mining industry with the DeFi world.
And as miners, our founder team hopes to help more users have easy access to the mining world.
Considering this, the founder team decided to start the project of EHash, through which, users can participate the mining activities in a very easy way.
EHash is a decentralized ETH mining tool. The EHash token anchors the Ethereum PoW mining power. It is issued by a top mining service provider in the mining industry. Each EHash corresponds to 0.01MHash/s Ethereum PoW hashing power.
The initial issuance of 20,000,000 EHash corresponds to 200,000M of Ethereum network hashing power(Ethereum’s entire network hashing power is now 390,000G, 1G=1,000M).
EHash provides a worry-free mining solution for EHash holders. EHash holders do not need to pay electricity fees or any other fees. EHash Holders get 80% of ETH mining reward, and mining service provider charges 20% mining reward as operation and maintenance fees (electricity cost and maintenance fees all inclusive).
Q2. What are the advantages of EHash to other alternatives in the Blockchain field?
Ans — Comparing to other crowdfunded hash rate tokens, EHash has a unique design that makes many obvious advantages.
(1) Each EHash coin corresponds to the Ethereum network PoW hashing power of 0.01Mh/s, while the traditional crowdfunded mining power coin usually corresponds to a group of ASIC mining machines(essentially the split of the mining machine share).
As long as the Ethereum PoW network exists, EHash will never become obsolete, as the hashing power will never become obsolete. However, ASIC mining machines are likely to be phased out and replaced by more advanced machines.
In fact, in the Bitcoin crowdfunded mining market, a lot of crowdfunded mining with 90w/T hashing power efficiency ratio are already eliminated.
As the current mainstream Bitcoin ASIC mining machines’ hashing power efficiency ratio have been improving to 30w/T, it is foreseeable that ASIC mining machines with greater than 60w/T hashing power efficiency ratio will gradually be eliminated within the next two years.
Therefore, the value of those crowdfunded mining coins supported by these machines will correspondingly fall deep in value.
(2) EHash does not charge users’ electricity bills, which solves the user’s mining cost accounting problem.
The actual mining reward of EHash holder is real, transparent and verifiable. In the traditional crowdfunded mining market, the issuer and hashing power provider usually settle the electricity, operation and maintenance fees in the backfield, and then the issuer will distribute the mining revenue to the token holders after deduction of all costs.
There is a lot of ambiguous space in the cost accounting, and the holder of the crowdfunded mining coin is often the party whose interests are damaged.
(3) EHash runs entirely on a decentralized network.
Smart contracts deployed on the Ethereum mainnet automatically distributes ETH mining reward to EHash holders everyday. EHash holders could claim their mining reward any time through the smart contract. The traditional crowdfunded mining coin is often issued and distributed by an issuer.
There are various suppliers behind the scene as well. Any problem in a single point could lead to an interest damage.
EHash anchors Ethereum’s hashing power, not the split of a certain batch of mining machine shares (different from traditional cloud computing power). As long as ETH PoW mining exists, EHash will always exist.
A more detailed comparative analysis of EHash and other existing and incoming projects is summarized in the following table:
Q3. What are the major milestones EHash achieved so far & what are in the future pipeline?
EHash just officially launched beginning of March but the progress we have made significant progress to date.
Ehash is now tradeable on DEX and CEX , it has been listed on Gate.io and recently we successfully launched on MXC [https://www.mxc.com/].
Mxc (https://www.mxc.com/)
There will be more milestones in 2021 to mark this year a successful one for EHash.
For example, we’re about to launch liquidity pool for EHash on Uniswap very soon will continue get expand and reach a woder audience by getting EHash listed on more CEX and DEX.
We’re also exploring some DeFi mining boost program to incentivize people to own EHash. We expect to have this program rolled out in one month.
EHash is also exploring derivative solutions for EHash holders to hedge the mining reward volatility. We are actively exploring a product with a very prominent derivative trading team in the crypto asset community. In about 3 months, we probably will be able to deliver a new product.
Questions Asked on Twitter For EHash Team!
Q1. Previously Ehash said that hold Ehash token is better than hold Ethereum tokens, so can you explain us what is the meaning of these words?
Ans — It’s obvious that holding EHash has many advantages over directly buying ETH, especially for those who are using financial leverages.
If ETH price drops 20%, the APR of EHash will subsequently drop ranging from 5% to 40%. However, it’s still yielding mining reward for EHash holders. You’re not forced to sell your position and could HOLD till a day that ETH price recovers.
During this HODL period, you’re accumulating ETH mining reward to mitigate your investment principle book loss.
On the contrary, if you’re investing directly in ETH, a 20% price drawback might place you in a very disadvantageous position, you can do nothing but wait a long time for ETH price to recover, and you have no other revenues during this period.
If ETH price jumps up 20%, the APR of EHash will subsequently rise ranging from 5% to 40%.
If EHash price has the same valuation pricing multiple as before, it’s obvious that its price will rise much more than 20%, an absolute advantage over ETH.
What’s more, you’re accumulating mining reward from the EHash hashing power.
In one sentence, investing in EHash is somehow equivalent to investing in ETH, but it falls less in a downward trend and rises more in an upward trend.
Q2. Today’s users avoid mining in the cloud, My question is how can we be sure that your platform is not designed as a “pyramid” mechanism for multilevel commission, in order to attract a significant number of speculative investors seeking high returns?
Ans — EHash is not a pyramid scheme.
EHash has passed all types of security audits required.
You can view the audit reports on the official website, for instance: https://ehash.co/static/media/Smart_contract_security_audit_report_EHASH.dbd9075b.pdf
Besides, Ehash is tethered to 0.01MHash/s Ethereum PoW hashing power and this hashing power supporting current circulating supply of EHash is publicly available and checkable online
Q3. Ehash is characterized by offering very easy and convenient Ethereum mining for miners. But why is Ehash solely focused on Ethereum? Why not mine other cryptocurrencies as well? Do you plan to integrate more in the future?
Ans — EHash is the token that represents the mining power on Ethereum network. 1 EHash is strictly tethered to 0.01Mhash/s power.
EHash holders are free from head-scratching equipment maintenance issues that hardware equipment miners experience by just mining ETH with holding EHash.
The reason we chose Ethereum but not other assets is because Ethereum still have the most prosperous assets and DeFi applications，eventhough some new ecosystem are emerging such as BSC and Heco. We still value the development of Ethereum and its pure decentralized genes.
To make mining more efficient on Ethereum, it is also worth mentioning that the mining output of Ethereum is allocated by smart contract to EHash holders automatically.
Miners don’t have to do their own mining configurations like in traditional mining. EHash holders could claim their ETH mining reward on EHash official website https://ehash.co. Besides, the contract has been audited.
Q4. In their series of mining production they include various locks. Can you tell which token amounts they will be blocking and for how long while the EHash floating interest lock is in place? What system apply for each of these mining companies?
Ans — You don’t need to worry about EHash having to be locked or blocked.
Let me emphasize once again the characteristics of EHash that make it an outstanding hashing token.
While some token require staking to mine, EHash does not require staking. You can simply earn Ethereum mining reward while holding EHash at the same time.
Q5. Recently $EHash was added to the MXC exchange. Do you have a roadmap specifying your goals for listing your token on other platforms in the near future? What are the next exchanges where you hope to be included?
Ans — EHash just officially launched beginning of March but the progress we have made significant progress to date.
EHash just officially launched beginning of March but the progress we have made significant progress to date.
There will be more milestones in 2021 to mark this year a successful one for EHash.
EHash is also exploring derivative solutions for EHash holders to hedge the mining reward volatility. We are actively exploring a product with a very prominent derivative trading team in the crypto asset community. In about 3 months, we probably will be able to deliver a new product.
Questions Asked by our BlockTalks Community Members during live Session to EHash Team!!
Q1. Does EHash have any plans regarding being listed on Binance or Huobi?
Surely these holders will get a better experience than ETH?
Ans — Yes, to be an outstanding and long-lasting project, EHash has putted big exchanges in the plan. Please stay tunned for the update.
Q2. What is EHash main objective? For what purpose was it created? What kind of people or companies does it benefit the most?
Ans — EHash is born for bridging the mining world and the DeFi field buy issuing ETH hashrate token. By doing so, we can empower the mining activities by combining the force of DeFi users. EHash benefit for the mining companies and the mining lover, especially the ones have little knowledge about it. By holding EHash, the holders can participate in mining with a significant low treshold. As we have explained, holding is mining.
Q3. EHash seems to be a very new project. Do you have a blog where we can find out about the availability of your token in the main DEX?
Ans — Yes, EHash was launched on March. It is now listed on Gate and MXC. Please visit our twitter and website for more information.
Q4. What is the maximum total supply of $ EHash ? Am I happy if you share tokenomic?
Ans — The speciality of EHash supply is that the total supply is not fixed. It depends on the mining power.
But the initial supply is 20,000,000EHASH.
Q5. What is EHash strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally?
Ans — Sure, we keep launching activities to engage with the community and hear the voice of community. Our bounty campaign has just ended, there will be more coming. Welcome to join us to get the first-hand information.
Q6. What is the competitive advantage of your project? Can you point out the strengths of your project that other projects do not have to attract investors?
Ans — EHash is the first decentralized ETH hashrate token and with the easiest way to gain rewards(i.e. just holding the token can bring holders ETH as rewards) . It has been seen that there are increasing number of hashrate token projects emerging. EHash team are updating the product to keep its advantages. You will see more advanced features in our product very soon.
Here are some important links of EHash 👇
🌎 Website: ehash.co
📱Twitter: twitter.com/EHashDeFi
📢 Telegram: t.me/EhashGlobal
📚 Medium: medium.com/@EHash
