What Is Enecuum (ENQ)?

What Is Enecuum (ENQ)? Complete Guide Review About Enecuum.

What Is Enecuum (ENQ)?

Enecuum The main idea behind blockchain itself lies in the concept of trust. This idea is based on the fact that parties interacting in the system do not necessarily know or trust each other but still have an opportunity to transact securely. The use of blockchain eliminates the need for the involvement and continuous maintenance of a centralized, ‘trusted’ authority, thus, enabling the network to operate in a distributed manner. True to its name, the records of transactions between nodes in a blockchain network are organized in a data structure known as “blocks”.

Enecuum A series of blocks are arranged in a strictly increasing-time order by a linked-list like data style known as the chain of blocks (i.e., “blockchain”). The blockchain is maintained as appending only local replicas of itself by the nodes participating in the replicated consensus process. Because of blockchain immutability, it can be abstracted as a transaction system that enables a consensus to form within its participants. This consensus holds unique probabilistic properties and can thus be leveraged as a fundamental building block for adaptive middle wares that offer both deterministic and probabilistic consensus.

Enecuum Storage Key Points

Coin BasicInformation
Coin NameEnecuum
Short NameENQ
Circulating Supply200,261,755.14 ENQ
Total Supply200,261,755
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

The Byzantine generals problem

Starting from the basics, there is a must to differentiate between the term consensus and blockchain. First one represents the case when there are two data structures on two different nodes, and there is a must to find the actual one. The roots of this problem could be found in work ‘The Byzantine generals problem’ by Enecuum. from early 80th [9]. Here, the required number of nodes needed for the verification is proven analytically. If there are n nodes and k out of those are malicious ones than the rest should reach the consensus in such an uncertain situation.

As a next step, A. Back discussed a solution to enable a denial of service counter-measure based on blockchain technology as a way to resist against spam followed by the Nakamoto’ PoW concept. Worth noting that Nakamoto had a significant assumption in his work. In particular, he assumed that one node of the network could only have one processing unit eligible for one participation in the new block generation race. This was, however, mitigated with the introduction of numerous blockchain farms.

Successful in solving the scalability problem

One of Enecuum’s critical advantages over other platforms is the Directed Acylic Graph (DAG) protocol, which is a data model for storing and writing transactions, with flexible settings offering new opportunities for the practical application of blockchain technology. Enecuum is designed as a decentralized blockchain platform of the next generation with unique features that have the potential to help with implementing a large number of secure and scalable blockchain services and decentralized applications.

DAG supports the creation of separate branches in which rules can be tailored to solve numerous potential business problems including the ability to handle a large number of transactions cheaply and quickly. Furthermore, this solution allows integrating smart contract technology that is successful in solving the scalability problem. Linear logic allows for reliable automatic certification of smart contracts before their publication to the system, which they believe significantly reduces potential vulnerabilities, misuse, freezes, deadlocks, and other undesirable outcomes in the system.

Potential Application

The proposed high throughput of the Enecuum blockchain is to allow startups to raise funds at any scale, without the risk of a network hang-up. Hence, initial coin offering (“ICO”) participants can be sure they can participate in the ICO and quickly receive their Tokens. Since smart contracts in Enecuum are to be implemented in JavaScript, they will be easy to write for any web developer. Thus the cost of their creation is likely to decrease significantly. Besides, the use of linear logic helps eliminate potential vulnerabilities in smart contract code and helps minimize the risks of attacks.

Token issuers will be responsible for the appropriate design of their Tokens use cases and ensuring that their Tokens comply with all applicable legal and regulatory obligations. The “cancellation model” allows issuers to implement complex ICOs with step-by-step raising and return of funds to participants, at any stage of the process. System-specific notation of Tokens, similar to the ERC-20 notation, is intended to simplify entry of the Tokens created on the basis of Enecuum to a cryptocurrency exchange service after the ICO.