Energi coin: A proof of stake coin enabling developers to build their Dapps on their network using solidity language

Energi coin: A proof of stake coin enabling developers to build their Dapps on their network using solidity language

By quintomudigo | Crypto Street | 2 Oct 2019


 

 

  energi.png

 

Energi coin is a native cryptocurrency of the Energi blockchain network platform created on the Energi blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Energi coin was mainly created to enable different developers to be able to build their Dapps o the Energi network using the Ethereum, solidity programming language. Developers can use the coin to pay for the service fees for running their Dapps on the Energi blockchain network. With Energi coin, developers can use it to create and issue the tokens of their Dapps thus enabling users of those Dapps to earn those tokens after which they will be able to exchange them back to Energi coin. The Energi coin will also be used by different masternodes to run and secure the Energi network as well as validate transactions provided they unlock them on the Energi core wallet. Stakeholders can also purchase the Energi coin take them to their Energi core wallet, lock them there and ensure the wallet is always online thus in return they also receive reward for that. This makes the Energi coin to serve as a proof-of-stake coin thus enabling masternodes and stakers to earn based on the coins they lock on the Energi core wallet. The more your staking the more the reward you will be receiving.

Energi coin transaction 

Energi coin transaction takes place on the Energi blockchain explorer based on block height and timestamp.  Here is a view of Energi coin transaction;

 

energi transaction.png

 

 

To view how the transaction takes place at Energi blockchain explorer, simply follow the link below;

https://explorer.energi.network/  


Date Launched

 Energi coin project was launched in 2018 with the main objective of allowing different Dapps to be built on its blockchain network using the Ethereum programming language(Solidity) as well as allowing different masternodes to be rewarded by running the network using their Energi coin.

Founder Of Energi coin

Energi coin was created by Tommy who is a blockchain technologist with the main objective of becoming a native coin for its Energi blockchain network thus allowing different Dapps being build on it to use it to pay for transaction cost. Tommy also created the Energi coin so that it can be used by different Dapps to create and issue their tokens on the Energi blockchain.  

Process of creating Energi coin

  Unlike cryptocurrencies like bitcoin and Ethereum which are released through the mining process using power supply and internet using the proof-of-work consensus, for Energi coin, that is not the case.  Instead, Energi coin was created to become proof of stake coin. Before becoming a proof of stake coin, Energi coin was a proof of work coin in 2018 but later changed its consensus in 2019. Unlike other cryptocurrencies that are pre-mined as well as they conduct ICO in order to be launched, for Energi coin, no ICO or pre-mined activity took during its launch. Instead, it was self-funded. By self-funding itself, community members are being airdrop with 100 Energi coin per 10,000 participants for 4 rounds. Besides the airdrop, for the reward program in order for the network to be secured, there will be staking process. In the staking process, 1000,000 coins will be rewarded every month. This reward is shared accordingly such that the masternodes who will be securing the network as well as validating transactions on the Energi network will receive 40% of this amount thus summing up to 400,000. If there are 200 masternode running the network, then each will be able to receive a reward of 2000 coins. For stakers provided that their Energi core wallet where they have locked their coins is online will receive 10% of 1000,000 coins while the treasury will be rewarded with 40% in order to ensure the longevity of the Energi project. The remaining 10% of the reward will go to the Energi backbone. As a staker and masternode, the more coins locked the more reward you will be able to receive. In order to become a masternode, you need to have downloaded the Energi core wallet with at least 10,000 coins being deposited over there. You also need to have a virtual private server with a specific IP address and must be running 24/7. Here is how the reward process looks like;  

 

energi staking process.png

If you want to start sharing your hard disk space or want to become a masternode to secure the network then make sure to download their Energi core wallet 

 


Maximum circulation of Energi coin 

Unlike other cryptocurrencies that have maximum capitalization, for Energi, there is nothing like maximum capitalization. Instead, every month, 1 million coins will be released through staking thus it will be distributed to different masternodes, stakeholders, treasury, and the Energi backbone. The masternode will receive 40% of this amount while the stakeholders will receive 10% of it. Another 40% will be rewarded to the treasury while the remaining 10% will go to the Energi backbone. Here is how the distribution looks like;  

 

ENERGI SUPPLY.png

 

  Energi coin Price

Currently, 1 Energi coin is worth more than $3 and its price is expected to increase over the next period of time. Energi coin is being abbreviated as NRG.  

Converting my Energi coin to other cryptocurrencies

To convert your Energi coin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Energi coin to Bitcoin or Ethereum. Here is a list of exchanges where you can easily exchange your Energi coin to your favorite cryptocurrencies;

  https://www.kucoin.com/   

https://www.myqbtc.com/

https://www.digifinex.com/   

https://crypto-bridge.org/  

Storing my Energi coin

To store your Energi coin, you need an  Energi coin wallet. You can either store online or offline. To store your Energi coin online, you can either download their windows wallet or can use the Coinomi wallet. To secure your Energi coin from being stolen by hackers, you can download the Energi core wallet.  

Transferring my  Energi coin to other Users

If you want to transfer your Energi coin to another user, the two of you must have trust in each other. The trust should be the Energi coin address provided for by the receiver while the sender must have the Energi coin balance in their account to send to the receiver. For the sender, a blank space to insert the receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;  

energi sender.png

351665157-47979bc98b0aea7726a2e6af8d26afbbd633194b3237b385d57f3857a539c899.png

 

Knowing more About Energi coin

If you feel that you need to learn more about Energi coin, then you can follow them on their site. Here is the link redirecting you to Energi coin platform website  https://www.energi.world/   You can as well read their white paper to learn more about their idea from below https://www.energi.world/wp-content/uploads/2019/09/ENERGI_WhitePaperv1.62.pdf 

  You can also join as a community member in any of their social media platform from below to follow the discussion made by other community members;

Telegram: https://twitter.com/Energicrypto

twitter:https://twitter.com/Energicrypto

facebook:https://www.facebook.com/energicrypto/

linkedin:https://www.linkedin.com/company/energi-core/

medium:https://medium.com/energi

Reddit:https://www.reddit.com/r/energicryptocurrency/

discordapp:https://discordapp.com/invite/sCtgNC3

Now that you know, I think that it is time for you to start earning some Energi coin by simply renting your hard-disk space to validators who will use the space to store and retrieve data when needed thus in return you receive a reward based on your shared hard-disk space. The more hard-disk space you share the more Energi coin you receive. If you feel that i should also own some Energi coin for simply helping you know about it then here is my Energi coin address 

ESHx7Bvhktv4GZxp12MmFGpLvcEmZwQT2f


quintomudigo
quintomudigo

Trader, Blockchain Technologist and Contentpreneur. Also founder and CEO @ Teacher Forex School.


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