Energi (| ˈenərjē |; NRG)
Without a doubt, one of the greatest barriers to the adoption of cryptocurrencies and dApps lies in the complexity of their design and the level of understanding required to effectively use them. If the internet of money (a term coined by longtime proponent Andreas Antonopoulos) is to fulfill its inherent promise, it will need to do just as well as the internet has in abstracting and obscuring those complexities away from the user. Energi, a cryptocurrency designed with users at its heart, aims to do just that.
An Economy of Self-sustainability
Energi is secured by a blend of proof-of-stake (PoS) and masternode consensus arrangements. All of its design choices are based squarely on fundamental goals of ease-of-use and mass adoption. Citing a desire to utilize natural resources effectively, stakers are eligible for 10% of the block reward.
For the remainder of its reward allocation, inspiration was taken from DASH’s 10% reward to a treasury fund. Energi, however, elected to reward 40% of rewards to its sustainability fund while another 40% rewards the masternodes. Indeed, Energi has the highest percentage of its emission devoted to “self funding” its growth when compared to all other cryptocurrencies.
The rationale behind such an atypical reward distribution demonstrates their belief that contributors must be incentivized on the front end of their efforts. For comparison, projects where development is carried out by volunteers are less predictably realized. Volunteers are required to continue indefinitely without any guaranteed compensation. Marketing from within the Energi usership base is more heavily emphasized, and the project predicts this will have notable and lasting effects.
Purpose to Counter Crisis
Energi indicates that worldwide adoption is its goal and it will use its self-funding mechanism to promote real-world transactions in locations where it is most urgently needed (areas such as Venezuela which are experiencing hyperinflation). To lay a foundation for this, the entire website has been translated into a handful of non-English languages. Additionally, there are plans to develop a mobile application to add ease of functionality similar to that of Venmo or Paypal and integrate with merchant services.
Building their Cohort
Other features which intend to speed adoption are investment-centric educational materials and a strong emphasis on user protection via a “defense” initiative which will be prepared to combat scamming and hacking. The Energi development team actively develops and engages with other projects to protect common users from such attack vectors as impersonation of team members. Few cryptocurrencies place the same emphasis on these matters or can point to concrete activities which support the idea.
Horizontal connectivity with the wider cryptoeconomy is planned as well. An Ethereum-compatible smart contract protocol will provide a platform for dApps to built upon, and successfully leveraged items will have an inbuilt currency readily available to them.
A Breath of Fresh Air
Avoiding the negative stereotypes and unoriginal trends that typify the average cryptocurrency project, Energi has implemented a series of “earndrops” where users are able to receive free coins for promoting within their personal networks. A strong message of doing so ethically is delivered consistently in their branding, promotional materials and even a series of basic cryptocurrency instructional videos.
With clear vision and purpose to match is unique economic model, the Energi project has attracted a diverse and ardent community as well as showing remarkable growth in both its development and market capitalization, both with seeming disregard for the unforgiving conditions of the general market.
Want to know more, or experience the Energi community firsthand?
Official website: https://www.energi.world/