Over the past several months, Energi has been making strides to become more accessible and user-friendly by being listed on more exchanges (KuCoin and many more in the future), transitioning to a Proof-of-Stake model that allows users to stake their Energi onto the network to earn rewards and giving back to the community by raining Energi in our discord.Please use the ticket above to join our Rain Channel.
We plan to push Energi’s innovation even further by transitioning to a smart contract platform, becoming one of the most versatile cryptocurrencies within the space. By combining today’s best features in blockchain technology, Energi will be one step closer to our ultimate goal; World Adoption.
In this article, we will dive into smart contract fundamentals and our plan to transition Energi into a smart contract platform.
Smart Contracts — The Fundamentals
Smart contracts are computer programs that are stored inside a blockchain. They enforce the negotiation or performance of a contract without relying on a third party. The purpose of smart contracts is to provide superior security and to reduce other transaction costs associated with traditional contracts.Smart Contracts possess two key features:
- Smart Contracts are Immutable — Since there is no human intervention in the creation of a smart contract, it can never be altered or changed. Once a smart contract is created, the block that manages the smart contract cannot be modified without the consent of all the nodes within the contract.
- Smart Contracts are Distributed — The output of a smart contract is validated by everyone on the network. A single person does not have the ability to force the contract to release the funds because other people on the network will spot this attempt and mark it as invalid. Tampering with smart contracts becomes almost impossible.
Energi plans to move to a smart contract platform adapted from Ethereum, compatible with apps written for Ethereum. This will allow users and developers to easily move to Energi’s smart contract platform with the reliability of our Defense Team securing and protecting the network. Additionally, Energi will offer engineering and marketing support for those looking to develop on the platform. Extra security and support are attractive features to those looking to develop on a smart contract platform and is made possible by Energi’s powerful treasury model.
The Creation of Smart Contracts
Smart contracts can be created by using the programming language, Solidity, which is a javascript-like programming language designed for developing smart contract programs that run on the Ethereum Virtual Machine (EVM). Using Solidity, developers can write applications that implement self-enforcing business logic within smart contracts, leaving a record of transactions unchanged.
The Energi of Tomorrow
This major update enables virtually all of Ethereum’s capabilities while incorporating Energi’s strong Treasury, Masternodes, and Governance systems, all-in-one.
Once we move Energi onto a smart contract platform, we will begin adopting existing Ethereum infrastructure such as MyEtherWallet (MEW). This upgrade will also enable Decentralized Applications (dApps) to migrate to the Energi ecosystem. By the end of the year, Energi will begin onboarding the most impactful blockchain projects and dApps into the Energi platform. Energi will also begin giving grants and providing support via the Incubator Program for what is determined to be the most powerful upcoming dApps in the space.
Energi 3.0 is a huge milestone for the project and we are so excited to release this to the world!
View our Roadmap to see what other exciting plans we have in store for 2019:
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