We are pleased to announce that Hong Kong-based blockchain startup Enecuum has listed its token, ENQ, through Pundi X Open Platform.
With this listing, ENQ is now part of our global payment ecosystem. This means that token holders can use ENQ to pay for services provided by our partner XPOS merchants. ENQ can now also be carried on XPASS cards and the XWallet app.
“Enecuum strives to bring blockchain technology and cryptocurrencies to the mainstream, a mission that we proudly share,” said Zac Cheah, Co-founder and CEO of Pundi X. “With this listing, we look forward to seeing ENQ holders derive even greater utility from their tokens, as well as introducing our own community to Enecuum’s ambitious project.”
“Our commitment to bringing blockchain to mobile devices aligns well with Pundi X’s mission of bringing cryptocurrency to the mainstream via brick-and-mortar retailers; we both share the vision of making the technology more widely available,” said Mikhail Sayfullin, CEO of Enecuum. “With our listing on Open Platform, our miners will find more uses for their ENQ tokens.”
Enecuum’s high-powered dapps
Enecuum is creating its own blockchain that specializes in implementing large-scale decentralized applications or dapps. It is doing so by allowing anyone with a smartphone to participate in the mining process — all they need to do is to download the Enecuum app.
The network reaches consensus through a combination of three mining algorithms: proof-of-work, proof-of-stake, and proof-of-activity. This not only gives Enecuum a heightened layer of security, but it also lets the network process more transactions in less time.
With this setup, Enecuum will be able to support various dapps that require a high throughput. Among the use cases it proposes in its whitepaper are token emission platforms, distributed computations through dedicated smart contracts, decentralized storage networks through sharding, and even applications involving Internet of Things technology.
At the heart of this network is the ENQ token. It primarily serves as a utility token that grants access to Enecuum’s services, as well as a reward for successful proof-of-activity mining. The token can also be used to facilitate transactions between any dapps that run on the Enecuum network.
Expanding use cases
By joining Open Platform, our listing program for crypto tokens and other decentralized assets, ENQ tokens can now be used outside of the Enecuum ecosystem. All the ENQ tokens that Enecuum’s network of miners have obtained can now be used to purchase products and services all over the world.
With the partnership, ENQ joins the likes of BTC, ETH, BNB, DGX, KCS, KNC, XEM, VRH, DAI, QTUM, FX, NPXS and NPXSXEM as payment options for our network of partner XPOS merchants. This means that ENQ token holders will be able to transact with any retailer with an XPOS device and even purchase ENQ tokens from it.
Interested token developers who wish to be part of our global payment ecosystem can visit the Open Platform website for more details.
Enecuum is a Hong Kong-based tech company creating a blockchain for mobile devices. With its app, it allows any smartphone user to participate in its consensus model, a unique three-part algorithm consisting of proof-of-work, proof-of-stake, and proof-of-activity. It currently has over 3,000 active users in the network from all over the world.