The most straight forward guide to Energi ($NRG) in cryptocurrency


Energi (NRG) is a low cap altcoin that started in late 2017.  Its slogan is “cryptocurrency for world adoption”, which off the bat, establishes itself as a currency to be used for daily transactions.  So, what separates it from the thousands of other offerings?  Let’s talk about it.

Energi is actually a highly modified fork of Dash, which itself is a fork of Bitcoin.  And just like Dash, Energi also has privacy features, as well as better scalability and lower fees than Bitcoin, not forgetting the ability to make instant payments.

Treasury Function

Like others, Dash is a mineable coin, however, during its inception, Dash innovated a treasury feature.  This means that 10% of every Dash coin mined is allocated into a fund.  This is held to cover all future expenses that will further the goals of Dash, this includes things like paying for programme development and community meetups.   

Most other cryptocurrencies do not have a treasury pool, with 100% of mined funds going straight to the miner.  Which is great for miners, but is a practice that lacks sustainability in terms of development and maintenance.

Missed Opportunity

Energi differentiates itself from Dash by having a treasury allocation of 40%, which the founder, Tommy “World” Power, sees as necessary in order to push Energi into mass adoption.  The Energi website also criticizes Bitcoin’s mining reward, calling it overkill, and saying that Bitcoin could be more secure and scalable if it too had a treasury system in place.  This represents a missed opportunity, where billions of dollars a year could have been allocated to Bitcoin’s development and growth.

Energi’s specifications are as follows:

Masternodes

There are many ways of earning through cryptocurrency.  For some people, staking by running a masternode gives the best risk/reward ratio.  And what makes Energi particularly appealing over Dash in this respect, is a current ROI of 123%, versus Dash’s 7%.

Not only that, but investing in a Dash masternode will currently cost over $73k, whereas the barrier for entry in Energi is close to $12k.

Earndrops

Airdrops refer to the distribution of a cryptocurrency, this can be for free, as a reward for holding a minimum number of coins, or for performing a task, such as posting promotional material on social media.  Which is a common strategy to improve adoption.

Earndrops are Energi’s variation on airdrops.  Rather than distribution through premining or an ICO, Energi have chosen to conduct multiple rounds of Earndrops to reward people who engage with the Energi community

The Energi team have split their Earndrops into rounds, which represent various worldwide territories.  We are currently at rounds 2 and 3, which covers USA, Canada, EU, Australia and New Zealand.

Interested parties need to register on Energi’s website, where participants complete social media tasks to earn up to 100 Energi tokens per day.

The Team

The founder and CEO of Energi is Tommy “World” Power, he is an influencer and YouTuber; who has been a crypto-advocate for a number of years now.  A scan of his YouTube account shows a number of thought-provoking videos that give an interesting perspective, and challenges the existing narrative, for example, his video on why Bitcoin will never reach $1million. 

But being a crypto influencer doesn’t necessarily equate to success with a crypto project.  Especially so, given Tommy’s background in solar power and mortgages.  Having said that, every crypto project consists of a team, and Energi’s team has a wealth of experience among the members.

Ryan Lucchese (The President) – has an Engineering Physics degree from Colorado School of Mines.  He specializes in software development, with over five years experience as a software engineer, and whilst this is his first leadership role, it’s certain that his engineering experience will be advantageous in decision making.

David Doss (Marketing VP) – has an MBA and an MA in Sociology.  Unlike Ryan, David has leadership experience, most notably in a fintech role with Citigroup.  Throughout his career he has shown competence in marketing and strategic growth.

Carolyn Seet (Head of Operations) – read Psychology and Philosophy at university, and is a qualified accountant.  Her work experience is in banking, but of greater relevance is her knowledge of regulatory and legal requirements.

Roadmap

2019 is a significant year for Energi, coming up is a transition to Proof of Stake, which is hoped to bring significant energy savings, and add to the security of the network.  There is also focus on users, with a re-design of the core wallet’s UI, and the rollout across more exchanges and multi-coin wallets.  Smart contracts were previously set for Q1 2019, but this has been pushed back to Q3 this year to account for more stable utility.  Q4 sees perhaps the most interesting notice, which is the onboarding of dApps and 3rd party blockchain projects.

Summary 

Energi is an interesting project that has set itself up for sustained development and growth.  It offers more attractive staking potential than key rivals, and whilst there are concerns over leadership experience, there is little doubt that the team behind Energi have the collective competence to make significant inroads into the crypto-world. 

 


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Wilson

Wilson is a 3x Startup Entrepreneur. He is passionate about the cryptocurrency space. You can catch him tweeting about cryptocurrency often @itswilson8 You can also email Wilson directly at wilson@cryptomenow.com

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