Blog What is ENERGI ?

What is ENERGI ?

History of ENERGI

The Energi project was launched in 2017 by Tommy World Power with the idea of creating a powerful, self-sufficient and economically optimized cryptography, based on smart-contract capabilities, decentralized governance and moral leadership.

Like many crypto projects, Energi's ambition is to become the world's leading platform in the field of cryptocurrency.

We can note an originality in the launch of Energi, which allows the project to stand out from the majority of other crypto projects. In fact, at its inception Energi did not need ICO and pre-mining, a step that many of the most well-known cryptocurrency companies in the ecosystem used to finance themselves. With this choice, Energi's objective is to base the project on a solid cash flow fueled by its own growth.



How ENERGI works

The value proposition provided by Energi resides in 6 main characteristics:

Infinite scalability: Energi has been designed to adapt to a growing increase in the number of transactions on its blockchain.
Low fees: unlike some blockchains, transaction costs on Energi are very low
Instant payments: Transactions on the Energi network are completed in seconds.
Confidentiality: thanks to an NRG coin blending mechanism, the origin of transactions is scrambled, making them more confidential.
Return on investment: With staking or NRG masternodes, you can earn interest on the tokens you block.
Low energy consumption: the use of a Proof-of-Stake (PoS) protocol makes the Energi blockchain energy efficient.

From Proof-of-Work (PoW) to Proof-of-Stake (PoS)

Originally, Energi based its blockchain on a Proof of Work (POW) system like Bitcoin. However, in order to achieve a more efficient and less energy-intensive operation, the project switched its protocol to Proof-of-Stake (PoS).

This change should thus awaken two possibilities in the minds of investors: the staking and the masternodes.

As far as staking is concerned, the short version is about leaving your cryptocurrency locked on a wallet in order to receive rewards (interest).

NRG masternodes are the second option available to investors. On the Energi blockchain, masternodes play a key role in ensuring the proper functioning of the overall architecture. In exchange for the initial collateral you will need to secure, you will participate in the smooth operation of the network and receive regular rewards.

Read also our article: What is a masternode.

At Just Mining, we offer you the opportunity to invest in a complete node as well as in a shared node, leaving you the choice of your investment budget.

A self-sustaining treasury

Tommy World Power, Energi's founder, noticed a detail that many projects had overlooked: self-funding. It was this observation that motivated the implementation of a special cash flow system within the Energi project.

Indeed, simply put, 40% of the NRG coins produced are destined for Energi's cash flow. This is a relatively large amount compared to the majority of other crypto projects. However, this initiative has the merit of enabling Energi to finance itself, not to mention that it is thanks to this decision that Energi was able to do without ICO. Furthermore, this allocation of the corners created to the project treasury is intended to support the development of Energi's platform and technology over the long term.

Published by Just Mining on 24/09/2020
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