Energi is updating the lean cryptocurrency design. It has an innovative, self-funded financial model based on community governance. Energi holds a decentralized management method operated by master nodes. They are incentivized full nodes managed by stakeholders in units of 10,000 NRG every. Masternodes provide layer 2 consensus, including scalability and governance, and are rewarded by NRG for the services they provide to the system.
Energi is developing the blockchain of the prospect. The plan differs from different blockchains in its innovative financial model, development features, and user security. All specifically decided to avoid ICOs or provide pre-mining. Alternatively, 1,000,000 NRG coins are mined monthly, of which 10% is allocated to the Foundation, and the number of coins is unlimited. The Energi network originated in April 2018 and quick understanding functionality is under development due to ship later this year. Btc to nrg exchange began its path. Energi transitions to the smart contract principles, it will begin building a startup incubator to provide consulting assistance. Energi uses user protection and security severely. The Energi Bureau of Investigations (EBI) serves to preserve the Energi user base from hackers, fraudsters, and intruders on the network.
Tommy, CEO of Energi Core, has been in the cryptocurrency industry for over 5 years, has a large following on social media, and is a respected thought leader. To avoid the significant disadvantages of going through the ICO, he instead provided seed funding for Energi’s development until the self-funding model was implemented.
The Energi network is fully operational and its functions are constantly expanding. The system is completely decentralized and does not depend on any third parties.
Project Updates and Major Announcements
Energi has announced the next major milestone in its development: Energi 3.0.
Energi 3.0 envisions a transition to a smart contract platform. Smart contracts are powerful tools that are both immutable and distributed, providing:
- lowering the transaction costs associated with traditional contracts.
This platform will be adapted from Ethereum, which means it will maintain compatibility with applications written on the web. It will not only make it easier for users and developers to transition to the new smart contract platform but will also allow the defense team at Energi to keep the system safe and reliable. In addition, Energi will offer technical and marketing support for those looking to develop on the platform. Additional security and support are attractive features for those looking to develop on a smart contract platform and are possible thanks to Energi’s powerful finance model.
This “next frontier of cryptocurrency” will bring the project closer to its ultimate goal of being introduced to the world. It provides almost all the capabilities of Ethereum along with the strongest aspects of Energi: Finance, Masternodes, and Governance.
Once Energi transitions to a smart contract platform, it will start leveraging existing Ethereum infrastructure such as MyEtherWallet (MEW). This update will also allow decentralized applications (dApps) to migrate to the Energi ecosystem. By the end of the year, Energi will begin rolling out the best-performing blockchain projects and applications to the Energi platform. Energi will also begin implementing grants and guidance through the Incubator Program for what has been identified as the most powerful future applications in this area.