Echo provides a convenient environment for smart contracts development with both the x64 Virtual Machine and Ethereum Virtual Machine integrated, enabling complex data structures, algorithms and calculations using any programming language and 3rd party library required for implementation.
The Echo blockchain is a layer-2 protocol that includes an Ethereum sidechain and a Bitcoin sidechain to enable network interoperability. This unique blockchain protocol enables other blockchain assets, including ERC20 tokens, to be represented on the Echo chain through a bi-directional peg, allowing Echo DApps (e.g., a decentralized exchange) to natively support the assets.
Echo uses a new Algorand-style Proof of Weighted Randomness (PoWR) consensus mechanism. Verifiable random functions (VRFs) are leveraged to select block producers and block validators, enabling consensus to be achieved quickly without a requirement for every node to independently execute all computation, lowering the resources required for each validating node.
Similar to Bitcoin's difficulty mechanics, Echo sustains decentralization through an efficient mechanism that tracks participation rate and adjusts block creation reward, ultimately attracting more users to the network. This way, Echo always remains decentralized.
Echo allows developers to build decentralized finance (DeFi) apps that integrate with Bitcoin's blockchain and benefit from the performance and flexibility of Echo's advanced smart contract protocol.
Stablecoins collateralized by Bitcoin
Derivatives with native BTC support
High liquidity with BTC-collateralized loans
Exchange solutions for peer-to-peer trading of BTC and other assets
Secure transactions with ECHO, ETH and BTC powered by smart contracts
Tokenization platforms for issuing and exchanging digital securities
Insurance apps covering events such as hacks, transaction issues, etc.
Sovereign identity protocols compliant with KYC, AML and other regulations
Echo's infrastructure creates an environment for developers to build and create next-generation DApps, while also serving as a platform and ecosystem of services for the FinTech industry, where users can transact freely and securely as members of a global community.