Is Enecuum The Next Evolution Of Cryptocurrency?

Callum Roxburgh
Nov 8 · 3 min read

Technology is always a work in progress. Each advance is built on the building blocks of previous advances. In computers we went from machines as big as a small house, to computers that sat on your desk, to ones that fit into your pocket. It required many different technologies and many different advances coming together to finally deliver the smartphone we have today. The same can be said about cryptocurrency. First we started with Bitcoin which proved the viability of the immutable distributed ledger, then Ethereum which brought smart contracts so you could create distributed trust and then a universe of many different cryptocurrencies that are all seeking to be the next big thing by solving some of the problems with the last big thing.

Which brings us to Enecuum. Enecuum is trying to solve the three big challenges of Security, Scalability and Speed that are standing in the way of more widespread use. They are doing this by taking a very different approach to their peers.

Rather than using a traditional Blockchain they have opted for a HyperDAG transaction architecture which lends itself to much better scalability and speed. To think of how this is different, in a traditional blockchain all the nodes keep an entire copy of the distributed ledger and transaction are confirmed by multiple ledgers in turn confirming that they agree. In a Directed Acyclic Graph (DAG) the transaction are linked together like a daisy chain and since the ledger (Graph) only travels in one direction (Directed) and cannot cycle back (Acyclic) this mesh of connected transactions can be represented as nodes in a graph network, in which the nodes are joined to each other by links. This allows multiple transactions to take place simultaneously and why Enecuum has been able to achieve speeds approaching 60,000 transactions per second.

Enecuum is also taking a very different approach to how consensus is achieved. They are using a Hybrid Consensus Algorithm combining PoW, PoS and Proof of Activity. While Proof of Work and Proof of Stake are quite common, Enecuum is the first use of Proof of Activity in a real world context and the hybrid model using all three is unique. Proof of Activity is in fact a hybrid of the best parts of Proof of Work and Proof of Stake. It starts the process of recognizing a transaction the same way a PoW would do with various miners racing to find a new block, but once the block is found it switches to PoS and begins looking for validators to sign the new block. This is not only more energy efficient than PoW and more secure than PoS but also makes it much more difficult to attack with things like a 51% attack.

The fact that they use three different processes simultaneously also exponentially increases the difficulty for any potential attacker that would have to execute a way to defeat all three systems simultaneously. To make these even more secure they have designed the Proof of Activity to be done exclusively on Android Phones. This not only allows the network to scale to sizes potentially much larger than any current blockchain but that huge network combined with the ease of sharding of a DAG means this could be the next big step in Distributed Ledger evolution.

There are a number of ways that you can participate in this. You can buy the coins which are now trading on KuCoin. You can download the mining app to your phone and begin accumulating coins by doing Proof of Activity. Or you can participate on KuCoinPlay and earn some Enecuum by doing some simple social media tasks to help the project attract more attention. KuCoinPlay is by invitation only but if you send me a PM using the links below I will see that you get invited.

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Written by

I am an Entrepreneur based in Jakarta Indonesia. I write about, invest in and advise startups.

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