Users can easily mine ENQ tokens using the Enecuum mobile app.
Enecuum-based developments can issue mineable, NFT, and fixed or flexible supply tokens.
Enecuum is a mobile blockchain protocol that gives everyone the opportunity to participate in decentralized finance. By connecting to the global network via smartphone, users can pool their idle data processing power in exchange for token rewards. At the same time, developers can create new decentralized applications (dApps) for the expanding Web 3.0 ecosystem.
With more than 13,000 wallets created to date, Enecuum has been busy building on the foundations laid out in its original founding document from 2017. Although the project has come a long way since then, the team’s trust in Trinity Lab doesn’t stop to reflect on its successes, promoting a chain governance model, launching its own DEX and developing a payment system for e-commerce.
Bringing the Blockchain to the Masses
Like many projects, Enecuum was specifically designed to bring the blockchain and cryptocurrencies into the mainstream. Obviously, such a high goal would not have been possible if it had required a steep learning curve and expensive mining rigs.
By using three different mining algorithms (Proof of Work, Proof of Activity and Proof of Stake) through the Trinity Protocol, Enecuum ensures sufficient decentralization and security. Simultaneously, it simplifies the onboarding process for everyday users, who can begin to “mine” ENQ tokens using the Enecuum mobile app.
To start working, users simply need to stake 25 ENQ and press “Start Activity” in the application. Boom, activity test mining is underway. The higher the staking, the higher the payoff, and the process requires no heavy computing: the smartphone will happily mine in the background without users noticing.
For those Enecuum-based projects, various types of cryptoassets can be issued, including mineable, NFT, and fixed or flex supply tokens. Naturally, the token issuer benefits from Enecuum’s high throughput and low fee transactions, supported by flexible pricing that allows fees to be paid on the traded token.
Once implemented, SHARNELL blockchain smart contracts will be very easy for any web developer to write. Meanwhile, the use of linear logic helps eliminate potential vulnerabilities in the smart contract code.
Enecuum will eventually expand to encompass HyperDAG, a data model for storing and writing transactions that supports divergent branching, where rules can be customized for different use cases. HyperDAG also facilitates the integration of sharding technology increasingly seen as the answer to the long-standing problem of blockchain scalability.
Where is Enecuum
2020 was a banner year for Enecuum with the launch of its smart contracts, smart staking and mainnet v.1 after migrating from Ethereum. From any point of view, it looks like 2021 will be even better.
After partnering with HAPI to use the project’s Onchain Cybersecurity Protocol for future DeFi projects, Enecuum announced ENEX.SPACE, an AMM DEX spanning liquidity pools, Commander ENEX treasury fund, promotion platform, performance farm and staking provider. Unlike the vast majority of DEXs that are based on Ethereum, ENEX.SPACE works with Enecuum and the Tabula cross-chain bridge protocol.
The partnership with Peanut, DeFi’s price balancer, enabled Enecuum to minimize temporary losses and achieve greater capital efficiency. Meanwhile, the introduction of a cross-chain bridge allows users to transfer liquidity through Ethereum, Binance Smart Chain, Polkadot, and Fusion.
So what is the plan for the rest of the year? Well, a payment system for online stores will be announced soon. This will allow token holders to use their crypto assets to buy goods and services with partner merchants.
A new multi-blockchain wallet will also be released, and version 2 of ENEX.SPACE will support cross-chain exchanges. Finally, towards the end of the year, non-fungible tokens (NFTs) will arrive at Enecuum. It has been an extraordinary year for NFTs so far, with a monthly transaction volume exceeding $ 200 million.
The Enecuum team is convinced that their mobile mining concept is the simplest and safest way for everyday crypto users. A quick look at the platform’s network statistics fuels optimism with nodes running in virtually every corner of the world. With its hybrid consensus algorithm, scalable architecture, and expanding partner network, Enecuum is anything but a run-of-the-mill blockchain project, and for that reason, it’s worth a look.
Learn more about Enecuum
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