Energi Coin Review: Wielding the Most Powerful Self-Funding Design
By Rafał - 2019-03-01
What is Energi?
Energi is a blockchain-based decentralized cryptocurrency built with a vision of mass adoption. Energi focuses on making a perfect blend of smart contracts, governance and self-funding treasury to build the most user-friendly, secure and trusted platform for building and trading value.
Energi Coin Specs
Energi is a decentralized cryptocurrency project which forked from Dash and was started in summer 2017 by ‘Tommy World Power’. It is embedded with network of masternodes which provide special features and usability to its blockchain. Energi mainly focuses on 4 principles namely trust, awareness, usability and awareness to achieve its goal of mass adoption. Energi is often termed as a highly modified fork of Dash because it has higher scalability, faster transactions, lower fees and enhanced privacy features. Energi is being equipped with smart contract platform and has a large self-funding treasury system with on-chain governance which ensures its long term development and advancement in technology.
Energi Value Propositions and Use Cases
Large Self-Funding Treasury
Energi treasury has one of the highest percentage allocations in the cryptocurrency space. 40% of the 1 Million NRG released every month i.e. four hundred thousand NRG goes to the Energi treasury. This large self-funding treasury ensures the longevity of the project in terms of development, technology and community. Energi does not have a supply limit therefore it is necessary to allocate higher percentage to treasury and Masternode for maintaining its ongoing performance and improve decentralization of the platform.
Built-in Governance model
Energi has a community-driven governance model in which the suggested proposals are submitted for open consideration which are then approved or not depending on the number of votes in favour and in oppose cast by the Masternodes owners. This governance model increases the stability of the platform, maximizes its scalability and paves the way to global adoption by encouraging people to participate in the decision making.
High Scalability, Instant Send and Private Send
As discussed above, Energi is an enhanced fork of Dash and has therefore inherited its features such as Instant Send and Private Send although with much lower fees and improved transaction speed. Energi has a block time of one minute and a 2 megabyte block size limit with high transaction capacity which enables quick transactions with negligible fees. Also, the Masternode Network provides level 2 scalability which grows with number of active full nodes. To read more about Instant Send and Private Send feature checkout our review on Dash with detailed info on the same here https://mastersofnodes.com/dash-review/
Smart Contract/DApp ecosystem
Energi’s network of DApps adds to the usability of its platform and brings it one step closer to its goal of global adoption. Introduction of smart contract to the platform will increase the transparency, efficiency, speed, security and trust of its ecosystem. Smart contracts will promote development, help bring new investors and will add value to its native cryptocurrency (NRG) which will be used as a currency to trade, build and develop Decentralized Applications on its platform.
Tommy World Power is the creator and the CEO of Energi project and Ryan is the President. Energi has a diversified team of professionals holding expertise in various fields such as Leadership, Development, Operations, Marketing, Defence, Human Resources, Advising etc. The team section has a professionalized outlook with no hidden identities and each member holds a valid profile picture and a name, although only the first name of the team members has been made available. It would have been better if a link to LinkedIn, twitter, github or something else was made available by each team member of Energi as it would be much easy for the new investors and users to research and verify the integrity of the core team. You can checkout Energi team section here.
Energi has a well-designed and detailed roadmap with professionalized outlook. It includes info on all its completed tasks, on what its presently working and what it plans to achieve in the coming years. Most of the projects don’t even have a definite roadmap for year 2019 but Energi on the other hand not only has a detailed roadmap for 2019 but also has a brief one for the year 2020. This shows that Energi is in for the long run and is already planning one step ahead unlike most of the blockchain projects out there. To checkout Energi’s roadmap, click here.
Where to buy Energi?
To host an Energi Masternode, staking of 10,000 NRG in Energi Core Wallet as a collateral amount is necessary. Masternodes provide unique features to the Energi Blockchain network such as private send, instant send, self-governance, self-funding, Equitability etc and increase the functionality and scalability of the platform.
As a remuneration for setting up, hosting and maintaining an Energi Masternode, its owners are rewarded with NRG. 40% of the NRG generated every month (which is around four hundred thousand NRG) is distributed among the Masternode holders as incentives for their network uptime and delivered work.
For detailed guide on Energi Masternodes and how to set them up, click here.