AMA SERIES: EHASH in Cryptowid Telegram Community
On March 16th, 2021 at 12 pm UTC (7 pm Indonesian time) AMA CRYPTOWID X EHASH was started by presenting Ms. Sushan – CMO of EHash. During the AMA, 10 AMA participants who are lucky to ask the best question in the Twitter session and the live asking session in the AMA will get a total prize of 100 $ USD. The following is a summary of the AMA questions and answers of the moderators and the guests.
Hello, community! I’m CMO of EHASH. I have been in crypto since 2017. I believe the changes and innovations that crypto techs can bring to the world.
SEGMENT 1 PROJECT INTRODUCTION
1. What is EHash? And how is the story behind the EHash creation?
Sushan : Simply to put, EHash is the first decentralized mining token for ETH. It represents the mining power on Ethereum network.
To summarize: EHash is strictly tethered to 0.01Mhash/s power. EHash holders are free from head-scratching equipment maintenance issues. EHash total outstanding supply is transparent and checkable on Ethereum network. The actual mining power that supports EHash is also transparent and checkable on Mining Pool. For example, you can check it on F2Pool, one of the largest Ethereum mining pools in the world. 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. EHash is tradable on both CEX and DEX. In the traditional mining industry, if you want to enter/exit, you have to find a seller/buyer, negotiate a price, and complete the mining machine delivery process. However, with EHash, you can simply trade it on exchanges to quickly enter/exit. As you can see above, the story behind EHash is to simplify the mining market by providing a pathway for ordinary users to participate in Ethereum mining at ease without having to acquire the expensive hardware mining equipment.
2. What are the advantages does EHash have? Which makes EHash different from other projects out there?
Sushan : EHash anchors ETH mining power. Its unique design makes EHash obvious advantages compared with traditional crowdfunded hashrate coins.
(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.
3. Could you provide some information about your Roadmap, and what are some achievements that EHash achieved so far?
Sushan : EHash just officially launched half month ago. We’ll continue to grow EHash project in 2021. For example, we’re about to launch reward mining and be listed on Uniswap very soon. We’re also exploring some DeFi mining boost program to incentivize people to own EHash. It is no wonder that more mining mechanisms are coming.
4. Please tell us about $EHASH token! What are the token use-case, price, distribution, where to buy it, and also what benefits will holders get?
Ehash currently has 20 million total supply, corresponding to 200,000M of Ethereum hashing power. It’s already trading on Gate.io, a well-known top exchange in the crypto market.
EHash has a special total supply rule. That is, EHash has a non-fixed supply, which means more hashing power could be added to the network, and existing hashing power could be withdrawn as well. As EHash is pegged to 0.01M hashing power, if more hashing power is added, the corresponding EHash will be minted as well; similarly, if existing hashing power is withdrawn from the network, corresponding EHash will be burnt.
With regards to price, when Ehash was listed on gate.io for the first time, it traded for $0.52 and the 24 hour trading volume was just $2 million. On March 8th, EHash reached an all times high of $2.07 and the trading volume averaged over $4 million on that day. Currently EHash trades at an average of $1.25 and we continue to widen our market.
The EHash token is 1)Symbol of ownership of Ethereum hashing power, 2)Right to own Ethereum mining reward, 3)Governance token in EHash community
In addition to the above, EHash Holders get 80% of ETH mining reward, and 20% of the mining reward is charged as operation and maintenance fees (electricity cost and maintenance fees all inclusive).
5. What are the future goals of EHash?
Sushan : Our goal is to build a easy bridge for the mining industry and the DeFi industry, providing the easiest way for users to ming in a decentralized way.
In a short time, being listed on more exchanges is on our plan.
Since we are expanding our influence and expecting community’s combined force, we have many events recently, such as the ambassador plan and the bounty campaign. Read about the event here : https://twitter.com/EHashDeFi/status/1368629162970255360?s=20
SEGMENT 2 QUESTION FROM TWITTER
1. from @ZamoraJoana
One of the biggest problems of the cloud computing power is the low liquidity, so Considering that you work with this type of power, how do you affront the low liquidity?
Sushan : Good question. In order to create sufficient liquidity for EHash, we will also start EHash’s liquidity mining for LP liquidity pairs, basically an incentive mechanism to encourage holders to add LP on Uniswap. The long-term vision of EHash is not only to provide a convenient way for ordinary users to own the hash power of Ethereum, and to bridge the gap between the crypto asset trading community and the ETH mining community. Therefore, in addition to the native ETH mining function of EHash, the combination of EHash and DeFi liquidity mining is also very important. We will announce the specific liquidity mining policy at some time and open the operation interface on the official website https://ehash.co .
2. From @Roi10x
What are the risk management policies that Ehash uses to safeguard the investments and credits granted by its platform? How do you really ensure that there is a backup base to rely on in the face of any situation ?
Sushan : Firstly, we have been audited by renowned audit and passed all investigation. Our code is totally safe.
Still, there may be some risks of mining or price. For example, price fluctuation risk, force majeure risk, energy price risk and so on. Users can visit the risk warning page of the official website to read and understand in detail.
3. from @tanlongan
What is the plan to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year for your project? What is the most difficult thing your team faced from the beginning of the project?…
Sushan : This question is related to the one about liquidity that we have answered above.
To increase liquidity, we will launch our liquidity mining on Uniswap. Here the problem comes that if users stake their token pairs on Uniswap, the Uniswap contract doesn’t support calculate the mined ETH by holding EHash and distribute the mined ETH. To solve this problem, we are upgrading our DAPP so that users can still gain ETH when they stake their EHASH on Uniswap for liquidity mining.
Besides, we also need to enhance the liquidity providers by marketing force. That’s why now we put a lot of efforts on doing bounty campaign and expanding our communities to more countries in more languages.
Welcome to join us: https://t.me/EHashGlobal
4. From @costurera3000
EHash can be defined as an online mining service, where just by holding EHash token you can obtain mining benefits. But can you explain a little about the mining machines that are used to produce these benefits? What regriferation system do they use or where are they located?
Sushan : Ehash is the token representing the computing power of Ethereum. Each Ehash token always anchors the 0.01mhash/s hash computing power on Ethereum network. Each Ehash token has real Ethereum computing power support, in which all data are linked in real-time, open and transparent throughout the process. The actual mining power supporting Ehash value is transparent and searchable on the Mining Pool (such as fish pool f2pool). Users can view the real-time hash power through the mine pool address at any time. Restricted by the openness and transparency of the blockchain, the platform can’t sell fake computing power without restriction, so as to avoid the system from evolving into a capital game of robbing the east to pay the west.
5. from @banphimcho12
Building a project on a global scale from scratch would be expensive, what strategies do you have to finance its development, expansion and market access at the same time? And how do you provide benefits to the long-term owner?
Sushan : It is need to mention that EHash doesn’t have any presale investors. And unlike most blockchain projects, we don’t have any ICO or private sale neither. We don’t generate revenue to sustain the project. EHash represents hashing power and our goal is to provide average users an opportunity to own mining reward through EHash. About 20% of the mining reward is charged as operation and maintenance fees (electricity cost and maintenance fees all-inclusive). By holding EHash, long-term investors will always be rewarded because as long as the Ethereum PoW network exists, EHash will not become obsolete.
When ETH become more valuable, holding EHASH will be more valuable, since you have EHASH and mined ETH, as well as the appreciation of the tokens.
SEGMENT 3 FREE QUESTIONS
1. Why should I invest in Ehash to mine Eth ? What is the difference between investing directly in Eth and mining it with Ehash ? I think it takes a long time to mine it and be able to see a profit.
Sushan : It can’t be too simply. Users can just hold EHash and check their earned ETH on our website. By holding ETH, you get ETH. By holding EHash, you get EHASH and the mined ETH.
2. What can we expect to see from this project in the short-term (at some point in 2021) and beyond (long-term goals)?Are you a global project or local project? Can anybody anywhere use Your project without any restrictions?
Sushan : Sure. We are a global project with users and led by a team from many countries. Currently we are building our communities in more countries. If you are interested, please join our ambassador plan. https://twitter.com/EHashDeFi/status/1367340749520441344?s=20
3. At the moment , where you are focusing right now ? building and developing product or getting customers and users, or partnerships ? Could you share it?
Sushan : Currently, we are focusing on improve our product by adding more rewarding mechanisms and to be listed on more exchanges. EHash has already give users a very easy way to win big rewards, but we have always been striving to do more.
4. Investors need to fully consider the market volatility we are in right now. With this in mind, who are which target group of audience are you after?
Sushan : Our target investors are who want to participate in mining but don’t want to pay the costs for mining machines and spend time on learning the knowledge. EHash is the easiest way for ordinary users to be miners.
5. , . / ? ?
Sushan : We are supported by a large mining company in the world and we are expanding our mining partners. I think it won’t be a problem as so far.
Thank you again, community! This is a very good and active community I have seen. So many good questions. Thanks
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