The EgonCoin Blockchain

Elevated Proof of Stake (EPoS)

Network Overview and Key Metrics

EgonCoin is the decentralized EVM-compatible public blockchain that powers the EgonCoin platform and ecosystem. It is fully compatible with Ethereum meaning that any smart contract that can be deployed on the latter can also run on top of EgoinChain on the fly with same codebase.

The EgonCoin blockchain uses a variant of delegated Proof of Stake (dPoS) for achieving consensus. The consensus is secured by a significant number of independent validators, only few of which is run by the EgonCoin core team.

Validators are also responsible for the most important type of governance on EgonCoin, namely, adopting the network protocol changes via EgonCoin Elevated Proposals (EEPs).

The native token of the network is called EGON. There is no issuance of additional coins like on other DPoS chains, instead the development team opted to hard code the maximum supply so it remain fixed forever, instead supply will be burned with each transaction, and development team will be carrying out a quarterly burn to reduce supply further.

The EgonCoin blockchain is designed to ensure fast block confirmation times and a low cost of transactions. The average block interval on EgonCoin is around 3 seconds, and it currently costs much less than 0.00005 to get a transaction confirmed.

In its present capacity, the EgonCoin blockchain is capable of processing around 10,000 native token transfers per second. The faster processing of native token transfers is due to the fact that they do not involve computations run on the network's virtual machine.