Saturday, May 4, 2019

Welcome to the Official Energi Cryptocurrency Reddit!

https://i.redd.it/wgriag3ha9w21.png

Hello and welcome to the Official Energi Cryptocurrency Reddit!

Below you will find a Table of Contents that will go over what Energi is and the fundamentals of the cryptocurrency.

What is Energi?
What are the Fundamentals of Energi?
1. Scalability
2. Funding
3. Governance
4. Inflation
5. Distribution
6. Decentralization
7. Long Term Vision
Coin Specs
How to Get Started
1. Official Energi Website
2. Energi Earndrop Campaign
3. Social Media
4. Exchanges
5. Energi Block Explorers
6. Wallet Downloads
7. Proof-of-Stake Setup Guides
8. Masternode Setup Guide
FAQ

1. What is Energi

Energi is a self-funding (non-ICO and No Premine) cryptocurrency that has a purpose to become the world’s leading cryptocurrency with the unification of Smart Contracts, Governance & Self-funding Treasury to ensure longevity and enable rapid growth.

Energi provides a small allocation to Proof-of-Stake (PoS) rewards and takes a bulk of the coin issuance and give it to its treasury and active masternodes. Energi also allocates 10% on-going reward to the leadership of the Energi Backbone, which is significantly less compared to today’s ICOs’ rewarding their founders between 20–50% of the tokens distributed. Another trait that sets Energi apart from ICOs is they give an on-going 10% allocation through each block reward, rather than rewarding the founders up-front.

2. What are the Fundamentals of Energi?

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.

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.

Governance

The Energi Treasury is a decentralized governance model designed with Masternodes as caretakers and stakeholders 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.

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 PoS 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.

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 (It's important to note that Energi has transitioned to Proof-of-Work consensus to a Proof-of-Stake consensus).

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.

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.

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.

3. Coin Specs

Ticker: NRG

Block time: 1 minute.

Hashing Algorithm: Dagger-Hashimoto (similar to Ethereum).

Masternode requirements: 10,000 Energi.

Treasury cycle: Every 14 days.

Approximately 1 million Energi will be released per month. The allocations can be observed easily as “10/10/40/40.”

10% will go to the Energi Backbone.

10% to the PoS participants

40% to Masternodes.

40% to the Treasury.

Thus, for every block, allocations are: 2.28 Energi to the Backbone, 2.28 Energi to the PoS participants, 9.14 Energi to the Treasury, and 9.14 Energi to Masternodes.

Since Treasury allocations are paid in two-week cycles, they are made in lump sums of approximately 184,000 Energi every 14 days.

In order to allow for widespread distribution of Energi before Masternode payments begin, Masternode rewards will be delayed until day 150, this is to allow the airdrop campaign to be completed and ensure a large amount of Energi is spread out through the community. Until this point, Masternode rewards will be re-directed to the Treasury. Thus for the first 5 months, the Treasury will have approximately 368,000 Energi every two weeks (about 800k Energi per month). The airdrop campaign is designed to release ~4 million Energi to the community.

4. How to Get Started

Energi Official Website

https://www.energi.world/

Energi Earndrop Campaign

Energi chose not to premine and not to do an ICO. Instead, we will conduct multiple rounds of Earndrops to disperse rewards for people who engage with our community. In order for us to process your Earndrop info for you in a fast and efficient manner, we ask that you upload quality information. This includes clear non-mirrored pictures, readable text in images, and non-offensive usernames. Failure to upload quality information may lead to you not receiving any Earndrop rewards.

https://earndrop.energi.world/homepage