What is Energi (NRG)?
Energi is a self-financing peer-to-peer cryptocurrency project which operates on an Ethereum-compatible network. Energi's goal is to become a semi-store of value and an easy way to transfer crypto across the globe. Energi token goes by a ticker NRG.
NRG history started in July 2017, when its founder, Tommy World Power, decided to create his own crypto. Before starting his project, Tommy used to run a blog about cryptocurrency on Youtube. This allowed him to establish a community of followers. Today, Energi represents a team of 64 senior blockchain developers and other specialists.
In April 2018, Energi launched its mainnet. Energi cryptocurrency embodies four main principles:
- Ethereum-compatible smart contracts (you can seamlessly transfer any Ethereum coin, project, decentralized application (dApp) to Energi network);
- Second-layer Masternode Network (allowing integrating decentralized finance (DeFi) apps, high transaction throughput, as well as scalability);
- on-chain governance (providing top user protections and blockchain security);
- a self-funding Treasury (The project had no Premine/ICO, and it doesn’t rely on external funding).
On February 26, 2019, Energi went from proof-of-work PoW and an application-specific integrated circuit (ASIC) resistant algorithm called Energihash (similar to Etherium's Ethash) to a proof-of-stake (PoS) consensus protocol with a network of masternodes. Staking is more energy-efficient compared to mining and therefore suits the principles of the Energi ecosystem.
There was no premine or initial coin offering (ICO) concepts of NRG. Instead, Energi distributed coins through earn-drop programs. The participants could earn up to 100 coins as rewards for doing tasks like following Energi's social media pages, posting comments about the project, and liking tweets. During this campaign, the company handed out more than 3.8 million NRG coins to over 45 thousand users all over the world.
Energi needed a way to build capital, and that's where the crypto Treasury system came into play. So, what's NRG Treasury and how does it work? The Treasury model works by allocating one million NRG tokens to the network every month. Then, a decentralized smart contract distributes NRG stocks between the participant parties in the following manner:
- 10% goes to stakers (PoS);
- 10% goes to the Backbone (reward for the project leadership);
- 40% goes to holders of Masternodes;
- 40% is allocated to the Treasury.
This process repeats every month, and no single party can alter or terminate it. Recently, the Energi network introduced a new decentralized finance (DeFi) feature called Energiswap Dex. The team is also planning to launch the Energi-Ethereum Bridge that will enable freely sending assets from one platform to another.
Energi Price Live Data
After its bull run on March 31, 2021, and reaching a peak price of $4.41, NRG coin price started descending to its current value of $2.05 (June 14, 2021). Similar to other digital coins, NRG token has entered a bear market phase and stands at about the same level as the beginning of March 2021. Right now, Energi occupies 340th place on the market capitalization ranking.
How to Convert Energi
Ethereum (ETH) and Bitcoin (BTC) are among the most popular pairs with Energi crypto. Godex is one of the platforms where you can buy NRG using both of these coins. Let’s say you want to quickly and most importantly safely swap your BTC to NRG. All you have to do is to utilize our exchange platform and follow this simple step-by-step guide:
- In the middle of the page, find two fields with numbers. By clicking on the left side of the "You Send" field, you will be able to enter the number of BTC tokens that you want to convert to NRG. In the "You Get" field, you will see the amount of NRG tokens you will receive.
- If you are satisfied with the ratio, click on the "Exchange" button. After that, you will need to enter your NRG wallet address in the "Destination address" field.
- After you ensure that your input data is accurate, press the "Exchange" button one more time.
- Godex will automatically generate a deposit address with a unique transaction ID. Send the amount of BTC you want to swap to NRG via the generated link.
- Wait for the confirmation of your transaction. You will find a detailed report of your transactions on the "Completed" page.
Can You Mine Energi?
So, is Energi mine available? Essentially, the coin is a fork from Dash and Dash implemented PoW consensus protocol at that time. In February 2019, Energi switched from PoW to PoS. Now, you cannot mine NRG coin, but you can lock its value ('stake' coins) and earn rewards for it. You can obtain Energi tokens by trading other digital tokens for them on Godex exchange platform.