Staking Enecuum is both easy and profitable, but is that alone enough to justify investing in this project? I don't think so. Before I get into why I am staking Enecuum, I'd like to briefly summarize some key points from their whitepaper.
What is Enecuum (ENQ)?
Enecuum is a new decentralized blockchain platform that is taking on the problems of scalability, security, and privacy. A single protocol that works to solve all these problems has yet to be introduced until now.
Scalability
Enecuum uses a "HyperDAG" which is a data model for storing and writing transactions. That, combined with sharding, will allow handling thousands of transactions per seconds without jeopardizing the security of the system. Enecuum's architecture allows the protocol to scale with growing usage and demand.
Security
Consensus is achieved through interaction between three mining algorithms: Proof-of-Work (PoW), Proof-of-Activity (PoA), and Proof-of-Stake (PoS). This creates a high degree of decentralization, which inherently mitigates certain possibilities of attack. In addition to this, certain measures are in development to reduce the chance of smart contract vulnerabilities (that can result in loss of funds), and fairness with on-chain voting of future proposals.
Privacy
Enecuum is aware of the concerns around the blockchain network being transparent and open, and understands that anonymous payments is a necessity for specific use cases. In relation to smart contracts, anonymous token transfers are also necessary.
To learn more, please read the whitepaper. You can find it on the Enecuum Website.
Why am I staking Enecuum?
I think Enecuum has a lot going for it. Here's what made me decide to invest and run a masternode.
- The return-on-investment (RoI) is very high, while the cost to run a masternode is very low. Investing in new projects is risky. The minimum cost to invest in Enecuum is only a few dollars, so you're able to control your risk level to whatever makes you comfortable. Regarding the high RoI, remember, this is only half the story--always consider inflation! RoI Calculator
- Inflation is not out of control. You must always ask--with returns this high, is inflation going to kill the value of the coins? In the case of Enecuum, they have a plan to control inflation (*and it's working*). Right now, the RoI is very high because it's still very early for the project. As more masternodes join the network (rewards are split between all masternodes), the RoI will go down. This means if you join NOW you should be able to earn a lot, and as rewards decrease, the value of your earned coins will go up.
- They are actually solving a real problem with blockchains today. As you read in the introduction of this article--Enecuum is extremely scalable, secure, and has plans for privacy.
- The team is not anonymous and is very responsive in Telegram. This is a big one for me. I've found that the Enecuum telegram community and admins are very open and helpful. You can ask anything and get a real response. Telegram
- Earned coins (ENQ) can be sold easily on multiple exchanges. I'm a fan of Kucoin and honestly after using Crex24 I had a pretty good experience. You have to have a few good spots to liquidate coins to actually profit, you know?
I hope this information was helpful. Please remember, with ANY investment, do your own research! Only invest what you can afford to lose, and never go "all-in" on something--diversify your investments! If you do these two things you will be setting yourself up for success.
Enecuum is a great addition to my staking portfolio. Perhaps it can be for yours too? Give it a try today! See below for a great guide to get started.
How to stake Enecuum as a PoA node
via.https://steemit.com/blockchain/@shea851/why-i-am-staking-enecuum
