Nothing has as much potential for changing the world as cryptocurrency and Distributed Ledger Technology’, begins Alfa Enzo’s white paper. Indeed, there is a lot of truth in the statement. As to whether the same applies to the ICO project is another matter.
Admittedly, if the two, Distributed Ledger Technology and cryptocurrency will be accepted into the mainstream, they must zoom in on customer experience. Alfa Enzo knew this and has formed it as a basis for its product. At the beginning of the year, this cryptocurrency and its Enzo Open Network (EON) was launched with the intention of delivering unprecedented distributed applications and decentralized platforms. The cryptocurrency is looking to take the industry into a new high, but is there a place for it?
The concept of money has evolved over time from cash to plastic and even more technologies that make contactless payments. It appears natural that cryptocurrencies would be the next step in reducing the clashes in the global economy. However, many people still struggle with understanding the whole concept behind it, so that the crypto world, even if heavy with potential faces a major adoption challenge. Can cryptocurrency be money? They ask.
The argument is that to be money, the crypto needs to be a unit of account, a store of value, and a medium of exchange. While crypto still stores functional value, it is volatile at best which then becomes a barrier to its use as an exchange medium. Second to awareness is the fact that there are challenges moving between fiat and crypto during exchanges.
It does not help matters that many coins that are already in existence are not universally backed. This means that they have no intrinsic value. In the end, one may conclude that there is no easy way to use cryptocurrency.
The Alfa Enzo team believes that there is a need for a confirmation model that will overcome the above set of problems. Since the majority of people globally are network-aware, the argument is that they need a new framework to connect all their activities. This platform will go a long way into creating momentum for mass adoption of cryptocurrencies by offering a utility for daily exchange.
The Networking Market
The digital advertising market has grown over time to generate billions of dollars in revenue. In fact, the last half a decade has seen these revenues go beyond television advertising which was traditionally the largest revenue earner. The market shows no signs of relenting. It is getting bigger by the year.
One particularly promising segment is the programmatic advertising. Here, the advertising creatives get an opportunity to self-serve. The convenience it brings has led the segment to result in a growth rate of more than 23% for companies that adopt it. If this does not show how important the segment is to digital advertising, few things will. Research shows that in the next six years, the networking market software will go beyond $88 billion.
In itself, the internet has become an advertising platform. Just click on any website and you are likely to find an advertising slot. As the industry grows, there will be problems to create delays and fear in users.
The Alfa Enzo Platform
Alfa Enzo’s platform offers the first smart market ever in the world. In this market, one gets to enjoy social networking within the platform, based on the blockchain. The platform combines the social network with a high-speed proof of activity that enables the user to earn from the amount of time they spend there. Users will be able to form contracts with one another, a thing that will go a long way to speeding up mass adoption.
Alfa Enzo is looking to have EON as the first ever distributed operating system in the world, running on a peer to peer technology. This is an idea in line with the company’s mission that is to create a global economy that will connect businesses and individuals, empowering them to transact freely and easily on a blockchain ecosystem.
The platform has its person to person products and a utility coin. As users join the platform, the coin gets more value. Consequently, the tokens become valuable.
Enzo Open Network
EON is a decentralized and open platform. The nodes can sign a smart contract when a connection has been made and the data is stored on IPFS11. Content that is generated by the user is guarded and attributed properly whenever it is shared. All communications and transactions are fast and secure. On this platform, the world is a marketplace and every person is a data merchant.
EON networks are managed by the private blockchain. The network focuses on the EON protocol, which bears the ability to layer and transfer secure data.
Alfa Enzo Token (NZO)
Gold has an intrinsic value and its use as an exchange medium has perfected it as a store of value. It is durable, combinable, homogenous and scarce. Time, on the other hand, has intrinsic utility. It is immutable, homogenous, divisible and scarce. Comparing the two, time is better because it is digitally expressible and has a distributed supply.
The Enzo (NZO) token is a utility on the EON, whose value is derived from time and activities on the platform. This means that its value is difficult to inflate. The blockchain enforces immutability and scarcity in a bid to drive value. The goal of the token is to serve as a fair reward in a distributed framework.
One NZO is equal to a year with units in Zs per day. This means that the value of the token is tied to the effect of the network and the user’s preference for the platform’s services and products, making the user sovereign. Consequently, everyone has equal opportunities to earn.
On their official website, the Alfa Enzo team established the network with the idea of time in mind. The team truly believes that time is ageless but one experiences it in pieces using today’s technology. For example, one shares their past on their social media platforms, they plan their future by using calendars and use messaging to track their present.
If EONs applications go well, they will be efficient in switching between applications. The project will also help more people adopt cryptocurrency faster, which will be excellent for everyone in the industry.