INTRODUCING ENECUUM; A PLATFORM CAPABLE OF CATALYZING MAINSTREAM ADOPTION OF CRYPTOCURRENCY AND BLOCKCHAIN TECHNOLOGY

joy joyce
joy joyce
Nov 6 · 4 min read

Cryptocurrency and blockchain technology are no doubt parts of the best innovations of this century. One of the aims of cryptocurrency and blockchain technology is to provide a decentralised ecosystem where all actions and decisions are by the community and not a central body. I found a project that can set Cryptocurrency and blockchain technology on the pedestal of global adoption.

INTRODUCING ENECUUM

Enecuum has successfully created a decentralized ecosystem that is capable of prompting mainstream adoption of technology of blockchain and cryptocurrencies.

Enecuum blockchain is an advanced and easy to use platform. On Enecuum blockchain, developers can easily create decentralised applications of choice to serve various purposes.

SOME DISTINCTIVE FEATURES OF ENECUUM BLOCKCHAIN

Enecuum is a multi-consensus blockchain. It makes use of three consensus algorithms comprising of Proof-of-Work (PoW) algorithm, Proof-of-Stake (PoS) algorithm and the less common Proof-of-Activity (PoA) algorithm. Most other projects use a single consensus algorithm, mostly PoW or PoS algorithm. The use of multiple algorithm will provide Enecuum high security that other blockchain cannot afford.

Enecuum blockchain “HyperDAG” gives it strength and makes it a superior over other similar blockchains. Enecuum HyperDAG as data model, can write and store transactions. With Enecuum HyperDAG, separate branches can be created, and gives it the ability to handle a large number of transactions.

WHY CAN ENECUUM BE CONSIDERED A GOOD PROJECT?

Scalability, privacy and security among others have remained the fundamental problems of blockchain technology. Enecuum has strategically proffer solutions to many of these fundamental problems.

SCALABILTY

The problem of scalability is a major setback to blockchain adoption and its practical uses. Blockchain-based systems are comparatively slow. Slow transaction speed is a prominent issue keeping organizations and enterprises that need high speed transaction processing systems from blockchain technology.

The implementation of the HyperDag by Enecuum allows separate branches to be created. This will facilitate faster transaction speed and allows Enecuum the capacity to handle a large number of transactions.

SECURITY

Blockchain technology and cryptocurrencies are confronted by security challenges and risks, including but not limited to safety of wallets, double-spending, and vulnerability to attacks. One of the ways Enecuum address the problem of security is by using multi-consensus system. The multiple consensus system provides a strong security in the Enecuum blockchain.

PRIVACY

Privacy issue is one of the factors keeping a number of big enterprises away from adopting blockchain technology, and also keeping institutional investors away from investing in cryptocurrencies. One of the ways Enecuum has positioned itself to solve privacy problem is by making payments in ENQ anonymous.

HOW ENECUUM BLOCKCHAIN WORKS

As earlier explained, Enecuum implements three consensus algorithms in its blockchain namely, the Proof-of-Work (PoW) algorithm, Proof-of-Stake (PoS) algorithm and the Proof-of-Activity (PoA) algorithm. These three algorithms work in concert to facilitate high speed of transactions on the network and a secured system.

In the PoW mechanism, the miner, find the hash for the next block, ensures that it fulfil the complexity requirement, and translate it to the network.

PoS miners obtain publishing key for certain K-block using ID-based cryptography. The key get divided into shares and become distributed between PoA miners. The PoA miners check the hash in the block translated and create microblocks with transactions. The transaction is signed by PoA miners and sent back to the PoS miners.

The PoS miners collect enough confirmations for microblock from PoA miners, aggregate threshold signature and publish microblock

IS ENECUUM TRADABLE?

The Enecuum (ENQ) is already trading on https://www.kucoin.com. Kucoin is of the world leading cryptocurrencies exchanges.

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