Energi is very much a traditional cryptocurrency. So, why invent another traditional cryptocurrency when thousands exist already? Because it can do better. Every detail of Energi Cryptocurrency is thoughtfully designed to solve problems in existing blockchain implementations, as well as improve upon the strengths that have made other blockchain projects succeed. Energi solves problems in the following areas:
1. Scalability One minute block times and a 2 megabyte block size limit provide Energi with a vast transaction capacity for regular on-chain transactions. This allows for plenty of space on the blockchain for extremely fast transactions with very low fees. Energi features a powerful on-chain scaling solution with a system of incentivized full nodes called Energi Masternodes. A masternode is a full node backed by 10,000 NRG collateral that provides level 2 scalability to the Energi Cryptocurrency. The Instant Send feature allows for instant transactions, even in times of network congestion. Transactions can be made securely and instantly ahead of the blockchain, as they are approved by a quorum of masternodes. Instant Send payments enjoy the same immutable transaction history as regular transactions, as they are later resolved on-chain as the network is able to. 40% of the inflation of Energi is allocated to masternodes, providing an extremely strong incentive to grow the number of full nodes and scalability of the network.
2. Funding A key feature of Energi is its powerful treasury system. Energi makes up to 40% of the inflation available to the treasury, to be utilized in a manner that provides maximum benefit. Treasury allocation is decentralized, allowing for submitted proposals from anyone, to be voted on by masternodes and paid out from the inflation. Energi has a 14 day treasury cycle, allowing quick payments for proposal authors and contributors, as well as strategic responsiveness to effective proposals. Energi is guided by the principle that every dollar spent from its funding model, should yield more than dollar of value in return. Thanks to a 14 day treasury cycle, the Energi team is able to measure results and respond quickly to changes in strategy.
3. Governance The Energi Treasury is a decentralized governance model designed with Masternodes as care takers and stake holders in Energi, with voting rights on how to best utilize treasury funding. This governance model reduces risk in the form of allowing participation from everyone who holds 10,000 NRG. In this way, the Energi community can work together on how to best build the strategic direction of Energi, rather than getting caught up in disputes with centralized mining businesses.
4. Inflation Energi Cryptocurrency has a simple rate of inflation at 1 million coins per month with no maximum cap. This ensures consistency in funding allocation, masternode rewards, and mining rewards, making the economics of the cryptocurrency more understandable for everyone who chooses to participate in Energi. No coin supply limit ensures that Energi is prepared for the long term, avoiding “bubble” economics caused by dramatic early inflation that in most coins only serves to benefit founders ahead of increased adoption.
5. Distribution Energi conducted a fair launch on April 14, 2018 with NO ICO and NO PREMINE. Prior to launch, the Energi team gave a specific time and date for the launch of its main net, which its vibrant community eagerly awaited, so that mining could begin fairly, again avoiding centralization among the coin founders. Energi masternode payments were designed to begin at block 216000, which occurred on September 18, 2018, almost 160 days after launch. This ensured time to list Energi on exchanges, and to grow the community, encouraging fair and equitable distribution before the extremely powerful masternode rewards began. It is all too common for masternode coins to feature a premine, which has the effect of centralizing distribution among the founders and early adopters. Energi has an ongoing Earndrop; a distribution of 4 million coins to users who contribute with social media activities about Energi, such as tweets, follows, and subscriptions on all major social media platforms. So far nearly 1 million coins have been distributed, helping to grow an enthusiastic community and serve to bring coins to the market in a way that is inspired by generosity.
6. Decentralization The Energi blockchain is secured by an ASIC resistant Proof of Work algorithm, helping to ensure mining decentralization. Delayed masternode payments have allowed the market time to react to the future of Energi, helping to ensure a decentralized community of masternode holders. Decentralized governance with masternodes help to ensure everyone is able to participate in Energi and help guide the project to achieve the best results.
7. Long Term Vision All of the above features seamlessly work together in concert, to ensure that Energi is prepared for the long term. Rather than try to closely find a niche in the market, Energi is prepared to adapt and overcome all challenges for many years to come. Energi’s use case is that of a traditional cryptocurrency, such as Bitcoin. However Energi’s strategy is to excel by avoiding the pitfalls of previous projects, while further utilizing and improving upon the most powerful ideas in the cryptocurrency space.
These features serve to distinguish Energi as a powerful cryptocurrency project already. They are not theoretical, or under development. Instead, they are live, working features on the existing Energi blockchain that are all in use today. Even with such accomplishments, the Energi team is quickly moving to an even more amazing future. Currently under development is the next generation blockchain, which will enable Smart Contracts and dApp development. This will be the most powerful combination of features found in any cryptocurrency, and enabling new use cases far above what any of the top cryptocurrencies have available today. Energi is the evolution of cryptocurrency, and it will continue to build, and evolve, and grow, by innovating upon the most powerful ideas seen in any cryptocurrency.
To learn more about Energi, visit the link below: https://www.energi.world
To participate in their Earndrop, they are currently holding two rounds (Round 2 for USA/CAN citizens and Round 3 for EU/AUS/NZ), use the link below (I’ve provided my personal referral link, feel free to use it and I’ll be able to earn 10 Energi per referral. If not, use the default earndrop link below it): Referral Link: http://earndrop.energi.world/homepage.php?ref=65 Energi Earndrop Link: https://earndrop.energi.world/homepage
As always, please do your own research and due diligence. This is my personal interest/opinion, not financial advice.
The article was taken from https://link.medium.com/kjW8w8fm7T
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