What is Encoins
What is the project about?
ENCOINS is a privacy protocol on Cardano. Users can create NFTs (a.k.a. encoins) with secret redeeming values. These NFTs store their redemption values in an encrypted format, thus enhancing user privacy.
ENCOINS conceals the amount of ADA in your wallet when you transact with other users and dapps. The users you interact with also enjoy a boost to their privacy, too.
Ledger Mode enables sending and receiving payments in encoins using the ENCOINS Ledger script. It gives the recipient privacy provided they do not withdraw it (i.e. if they also make Ledger Mode payments with these coins).
What makes your project unique?
ENCS is the only Privacy Protocol on Cardano.
More information on this link https://docs.encoins.io/links/our-resources
History of your project.
We have already delivered ENCOINS v1 (now on the testnet). ENCOINS v1 was the goal of our previous Project Catalyst proposal back in Fund6. Though we initially underestimated the realistic deadlines for that project, we over-delivered in terms of what was promised, not only building a private transaction protocol but also creating reusable open-source.
What’s next for your project?
Encois V2 will allow users to make private transactions not only in ADA but also in all Cardano Native Assets. Cardano Private Smart Contracts coming to Cardano.
What can your token be used for?
For running validator nodes on the network via staking ENCS tokens.
Used for governance votes to determine how network resources are allocated.
Encoins vs Stoic
It's almost impossible to predict which cryptocurrency will eventually emerge as the leader.
There is no guarantee that In 5 years, ENCS would still even exist. Another faster and cheaper blockchain might capture the majority of developers, users, and capital. Or some critical failure of ENCS might derail its progress.
Because the probability of guessing the winner is low, it's better to use a portfolio approach and buy all possible contenders, including ENCS.
Stoic builds a portfolio by using hedge fund-grade quantitative research and AI to build a portfolio of crypto assets.
The algorithm analyzes price data, returns, volatility, correlations, and other factors to identify coins that are likely to go up. It then rebalances the portfolio daily to cut losses early and take profits regularly. Stoic is a great alternative to researching coins and trading manually.
Over 12,000 people already use Stoic to automate their crypto investing.
