Energi (NRG) is aiming to be the “cryptocurrency for world adoption”. Utilizing the largest self-funding treasury out of any cryptocurrency, Energi has had an impressive year of progress and growth.
In 2019, Energi made a number of accomplishments. Thus, NRG underwent technical developments and saw adoption and growth. It was what you’d call an exciting year for the company.
Let’s delve deeper.
With Energi 2.0, the project completely transitioned from Proof-of-Work to Proof-of-Stake consensus. Starting Feb 29th, NRG holders began staking their coins to earn more coins. Currently, anyone can participate in the company’s Proof of Stake system by staking as little as 1 NRG and earn staking rewards as high as 22%.
Quarter 2 started with a big celebration as the project completed 1 year and kept growing in spite of a long bear stretch.
The team started working on Energi 3.0, which would bring Ethereum’s smart contract capabilities to Energi. Upon completion, the platform will support existing and new ERC20 tokens and dApps.
The development of the new platform has been a major focal point for the Energi team during 2019.
That said, the company intends to offer a complete ecosystem to the NRG adopters. In order to achieve the same, it initiated its major endeavor – Energi X. As a 0-fee Futures Exchange, this is expected to give a tough competition to existing players like Bitmex and Binance. With NRG as the primary trading pair, it will create a major demand for NRG.
The quarter started with great news as Energi made it to the top 50 cryptocurrencies on Coinmarketcap.
Energi also launched Energi Impact, which is a self-funding charity branch of Energi, aiming to do good for the world. So far they have been doing beach clean-ups, donating to orphanages, planting trees and much more.
On Sep 22, 2019, Energi 3.0 opened for public testing. According to the project team, it is the most significant update since the launch of Energi.
All the hard work the Energi team has put in throughout the year seems to be paying off. For instance, Bithumb, Mercatox, and CoinAll listed the NRG coins.
The project edged ahead in one of the biggest airdrops of the crypto sphere. Earndrop Rounds 2, 3, and 4 were released, which amounted to close to 2.5 million NRG.
Energi Gen 3 smart contract platform was supposed to be launched this quarter. Although the development is complete, the launch stands pushed to the first half of 2020. This way the company aims to ensure that the transition for existing users and partners is smooth enough. The team is encouraging the users to test the Energi Gen 3 test net that relaunched on Dec 18th.
2019 – standing strong against scams and frauds
Defense Teams at Energi are keeping a close eye on scammers and fraudsters in the space. Earlier this year the Energi Bureau of Investigations (EBI) identified several individuals who defrauded the community members.
There is more. After conducting a KYC audit, the Earndrop team discovered almost 50% of the entries were fraudulent. This ensured a fair distribution of NRG coins to keep the network secure.
What does 2020 have in store?
The project has forged quite ahead to accomplish some of its major milestones. The team has scaled to over 60 team members. With that, some major launches are just around the corner.
First half of 2020
By giving users and partners ample enough time with the Energi 3.0 testnet in Q4 of 2019, the release of Mainnet will take place in the first half of 2020.
With this launch, the Energi platform will also support Ethereum infrastructure like MyEtherWallet. As Energi 3.0 will start supporting dApps, services like Defense (cybersecurity) and incubator will be accessible by dApps too.
Energi X, the 0-fee Futures exchange, is also tentatively planned for public testing during the first half of 2020.
Second half of 2020 and beyond
The full launch of Energi X will be out in the latter half of 2020 (tentative).
Meanwhile, some promising dApps and projects are likely to join Energi 3.0 soon. And these projects will receive both infrastructure and financial support from the platform. The project will be putting its Incubator Program in full throttle to offer grants to some of the powerful projects.
Although no timeline or timeframe has been decided yet, Energi Mobile Wallet is also part of a long term roadmap. The prime focus of the wallet is to ensure it is easy to use like Venmo and Cash App.
Additionally, Energi is planning to come up with a stable coin pegged to gold. The wallet will support a one-click conversion between NRG and NRG Gold.
In the coming years, the company seeks to bring on thousands of full-time contributors while expanding marketing efforts, development, and ease of use, to rapidly increase demand and adoption.
We foresee a very busy 2020 for Energi and Altcoin Buzz will be tracking its progress in the coming year. Stay tuned.
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