Enecuum (ENQ) Project Updates, Research and Information For KuCoin Users

PundiX Lists ENQ

Design Enecuum's PundiX Card and Win ENQ Rewards

Enecuum is looking for the best design for their PUNDI X card.

Together with Pundi X , Enecuum holds a contest for the coolest design for its Xwallet card.

3 designs will be rewarded as follows:

1st- 1000 ENQ

2nd – 500 ENQ

3rd- 200 ENQ

The competition will be held until November 25th.

Enecuum's team will announce the results at their AMA and reward the winners!

Send your entries in a telegram to the Enecuum's chat  with #EnecuumCard

The rules are located on this Google document link .

If you have questions please reach out to Enecuums telegram community admins.

Enecuum’s ENQ Joins Pundi X Payment Network

Enecuum’s ENQ token has now been listed on the Pundi X Open Platform, making it part of its global payment ecosystem. This means that ENQ holders can now use the token to pay for services provided by XPOS merchants. ENQ is available to be used via XWallet and XPOS, further expanding the use case of Enecuum’s token. 

“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.”

Learn more about the listing here.

Enecuum (ENQ) is available on KuCoin. Supported trading pairs include ENQ/BTC and ENQ/USDT.

Enecuum Partners With Paytomat And Implements Payments With ENQ

Payments in ENQ are now available via Paytomat solution across hundreds of points-of-sale around the world.

Paytomat and Enecuum announce their partnership. With this cooperation, Enecuum (ENQ) becomes the 1st ERC20 token available as a payment method in thousands of retail businesses where Paytomat currently operates.

Mikhail Sayfullin, Enecuum's CEO said: “We want to be honest – we are delighted with the Paytomat products! Convenient, reliable and safe. We are sure that Paytomat can make its network of vendors the largest in the world. We will be happy to do it together!”

Read the full release here

Enecuum Summary: Mobile Mining Redefined 

Enecuum intends to build a blockchain with dApp support. What the team considers to be their unique proposal is the usage of millions of devices to act as supporting nodes for the network.

The project also proposes an unconventional hybrid model for its architecture, combining several existing technologies in order to create a network which uses the best parts of all worlds.

Namely, the architecture will be built as a Block-DAG hybrid where the consensus mechanism is a combination of PoW, PoS and Proof of Activity.

The team often seems to emphasize the capability for millions of electronic devices (e.g. smartphones, IoT) to support the network as nodes.

They appear capable of developing and leading the project, with good connections to get them ahead.

Given only 25 tokens are required to join the network, the entry point for users is incredibly low and easy which makes this project available to pretty much anyone in the world with a mobile phone.

Token Type

ERC20

ICO Price

USD 0.0600

Enecuum Links

Official website: https://new.enecuum.com/

Explorer: https://neuro.enecuum.com/

Guides: https://guides.enecuum.com/

ROI calculator: https://neuro.enecuum.com/#!/roi

How to Swap tokens: https://www.youtube.com/watch?v=2SOaK6xQFGQ

Download the app: https://new.enecuum.com/#/

Whitepaper And Documentation

Business Plan

What can be understood is that Enecuum is intended to be a decentralized network with its own improvements over the conventional idea of a consensus mechanism and smart contracts.

It is being developed by a private company called Enecuum HK Ltd. What the project appears to rely on is an initial funding from investment firms and a token sale, after which Enecuum will be further supported by a portion of the pre-mined tokens.

Technical Description

The whitepaper introduces the overall problems of the market and how Enecuum's solution will overcome them.

This section is accompanied by a good overview of the system architecture and proposed technical ideas. A separate technical paper is provided where the same topics are explored in detail.

The system appears to be combining several existing technologies in order to create a network which uses the best parts of different solutions. Namely, the architecture will be built as a Block-DAG hybrid where the consensus mechanism is a combination of PoW, PoS and Proof of Activity.

The team often appears to emphasize the capability for millions of electronic devices (e.g. smartphones, IoT) to support the network as nodes.

Team and Advisors Description

The team is well presented. One can find pictures, names, titles, short bios and social links for each team member and advisor on the website.

Roadmap & Milestones

The roadmap presents the past milestones, as well as the quarterly goals until the end of 2019.

Team And Advisors

CEO Background

Mikhail Sayfullin is the CEO of Enecuum. He studied at St. Petersburg State University of Telecommunications but has not disclosed his specialisation.

Before Enecuum, he has founded and acted as the CEO of two other companies – partymasters.ru and Marketing Solution Group.

His marketing agency looks to be still active and working well which serves as some proof of his leadership skills.

Team Background

Sergey Bezzateevis the head of the research at Enecuum. He is a Professor, Doctor of Science in Cryptography, Sc.D. in CS, head of the Department of IT Security of the Saint Petersburg State University of Aerospace Instrumentation.

Sergey is a renown specialist with over 40 materials published in the field of Information Theory, Coding Theory, InfoSec, and one of the leading experts in cryptography. His scientific background, especially in cryptography, suggests a strong theoretical basis of Enecuum work.

Konstantin Zhidarov is the Tech Lead at Enecuum. He has an Engineer's degree in Computer Science from St. Petersburg State University of Aerospace and Instrumentation.

He has been working as a software developer at several companies for the last sixteen years, with the last decade being in a senior position.

He is also a Researcher at the university from which he graduates, and his research topics include blockchain and IoT.

Mr Zhidarov seems to be a valuable asset to the team's portfolio.

Aleksandra Afanasyeva is a researcher at Enecuum. Aleksandra is an Associate professor of the Department of Mathematics and IT of the Saint Petersburg Academic University. Aleksandra received her M.Sc. in IT in 2003 and trained in the Nokia Research Center in Helsinki, Finland, on Evidence-Based Security and Verification of Cryptographic Protocols.

Aleksandra has participated in and led collaborative projects with Samsung, Intel, Dell EMC in InfoSec and Optimization of Resource Management Algorithms in Data Storage Systems.

Team Skills and Experience 

The full team of Enecuum includes a diverse set of skills, with coverage of all the crucial parts for a crypto project. A notable aspect is the number of blockchain academic researchers who are involved with the project.

Advisors Background, Experience and Feedback

There are eight advisors with what appears to be a broad range of influence and expertise. Most notably, Jorge Sebastiao (who is currently the leader of ICT at Huawei).

Project Potential

VCs + Investors

Three investment firms (GEM Capital, iCapital, 21M Capital and Alpha Chain) are disclosed by the team, but the exact investment amounts are undisclosed.

Partnerships

Enecuum is a member of Fintech Association of Hong Kong, and it appears to have established a relationship with three other crypto companies – Bitgosu Partners, Hacken and Coinsuper.

Henok “Hen” Tekle – Strategic partner of Enecuum is notable blockchain angel investor, advisor, content creator and public speaker. He may bring valuable connections to future partnership opportunities.

Lockups

The team tokens and the reserve are locked for one year after mainnet launch.

Speed of Selling Out

There was only a private sale.

Airdrops

2% of the total supply is set aside for airdrops, and at the ICO price, this equals USD 1,015,045.

Type of Project

Enecuum intends to build a blockchain with dApp support. What they consider to be their unique proposal is the usage of millions of devices to act as supporting nodes for the network.

Percentage of Tokens Sold on Public Sale

The team reports having sold 5.6% of the allocated tokens for sale. They estimate that the funds raised are around USD 1.5M.

Talk on Project

There is not much discussion regarding the project, but what little there is, is positive.

Technology And Development

Product Development Progress

The roadmap indicates that the project has a running alpha version and plans the release of a second testnet.

Blockchain Technology Usage and Innovation

The hybrid model of Enecuum's blockchain allows for three types of miners to support and profit from the network.

Users with hashing power resources can do PoW, users with coin resources can do PoS, while users with high activity can participate in the Proof of Activity consensus mechanism.

Additionally, the system is meant to incorporate sharding, and smart contracts will be using JavaScript and Petri.

The end goal is to potentially create a scalable dApp platform with high TPS, which is supported by millions of nodes (since a regular smartphone can also support the network).

This is a specialized product which combines what the team considers the best of crypto tech and mobile mining.

Dependencies to Third Party Platform or Service

The project relies on Ethereum for their ENQ token used for trading and a native token used within the network which can be swapped with ease depending on the user’s intentions.

Blockchain Advantage, Effects on the Market

The ideal scenario for Enecuum is for the network to prove itself as the most reliable dApp platform and become the standard.

Decentralization of the System

The network itself is meant to be decentralized in the sense that there are supposed to be many nodes, and there will be a very low barrier for a random user to run a node.

The development is fully handled by the company, where users can only vote for protocol changes.

System Security Measures 

The technical paper dedicated a brief section to security, describing the most common attack vectors (such as a Sybil attack) and then providing a brief plan on how the project intends to protect the network.

We sincerely appreciate your support and understanding, we hope this information proves useful to all users and potential investors.

Regards,

The KuCoin Team.

Risk Warning: The cryptocurrency market is available worldwide 24/7 for trading with no market opening or closing times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin screens all tokens before they come to the market; however, even with the best due diligence, there are still risks when investing. KuCoin is not liable for user’s investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice.

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