What Is Energi (NRG) Cryptocurrency?

By |2019-02-17T13:27:00+00:00February 17th, 2019|Cryptocurrency|

Energi (NRG) is a low cap alt-coin that began in late 2017.  Its slogan is “cryptocurrency for world adoption,” which off the bat, lets you know the intended purpose of the project.  So, what separates it from the thousands of other offerings?  Let’s talk about it.

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

Treasury Function

Dash was the first to innovate a treasury feature.  Under this system, 10% of every Dash coin mined is allocated into a fund.  This is intended to cover future expenses that will further the project, such as paying for programme development and community meetups.  

Most other cryptocurrencies do not have a treasury function, where 100% of mined funds going to the miner.  While this is great for miners, projects without a treasury fund are less likely to be viable in the long-term.

 

Missed Opportunity

NRG differentiates itself from Dash by having a much higher treasury allocation, at 40%.  The founder, Tommy “World” Power, sees this as necessary to push Energi into mass adoption.  When questioned about Bitcoin, he was not shy to criticize the mining reward system, calling it excessive and a hindrance to improved security and scalability.  This represents a missed opportunity, where billions of dollars a year could have been allocated to Bitcoin’s development and growth.

 

Master Nodes

There are many ways to earn through cryptocurrency.  For some people, staking by running a master node gives the best risk/reward ratio.  And what makes NRG more appealing than Dash, in this respect, is a current ROI of 123%, versus Dash’s 7%.

 

Not only that, but investing in a Dash master node will currently cost over $73k, whereas the cost for NRG is close to $12k.

 

Earndrops

Airdrops are a commonly used strategy for improving adoption.  Distribution can take a variety of methods, such as being given away for free, as a reward for holding a minimum number of coins, or for performing a task, such as social media promotion.

Earndrops are NRG’s version of airdropping.  Rather than distribution through pre-mining or an ICO, NRG has decided to conduct multiple rounds of Earndrops.

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

Interested parties need to register on NRG’s website.  After enrolling, qualifying individuals need to complete social media tasks.  This is worth up to 100 NRG tokens per day.

 

The Team

NRG’s founder and CEO, Tommy “World” Power, has been a crypto-advocate for many years now.  HIs YouTube account shows some interesting videos that challenge the existing narrative.  For example, his video on why Bitcoin will never reach $1million. 

But being a crypto influencer doesn’t necessarily mean NRG will be a successful project.  Especially so, given Tommy’s background in solar power and mortgages.  All the same, every crypto project consists of a team, and NRG’s team does have a wealth of experience.

Ryan Lucchese (President) – has an Engineering Physics degree from Colorado School of Mines.  He specializes in software development, with over five years of experience as a software engineer.  While 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 with Citigroup in a fintech role.  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 expertise in legal and regulatory frameworks.

 

Roadmap

2019 is a significant year for NRG.  This year will see the transition to Proof of Stake, which will bring considerable security benefits, as well as reduce the energy demands of the network.  There is also focus on users, with a re-designed UI of the core wallet, and the roll out across more exchanges and multi-coin wallets. 

Implementation of smart contracts was previously set for Q1 2019.  But this has been pushed back to Q3 to provide a more stable utility.  Q4 is an exciting period, with the onboarding of dApps and 3rd party blockchain projects.

 

Summary 

NRG is an interesting project that has set itself up for sustained development and growth.  It offers more attractive staking potential than key rivals, and while there are concerns over leadership experience, there is little doubt that the team collectively have what it takes to make significant inroads within the blockchain world. 

 

About the Author:

Howdy! I'm James. My role is to help you make money online. I'll act as your guide to ensure that you have the necessary tools and knowledge to add additional sources of income to your life.

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