Why Encocoin - XNK and EPG?
Fast Dual Blockchain
Dual Blockchain network to process global imports and exports trade in an instant without the need to visit the bank for any paper work
Permissioned & Private
All principal trading parties (Importers and exporters) and intermediaries (Banks, customs and insurance) who are party to a trade cycle must be in the Encocoin network and authenticate transactions as a node to make the EPG system successful. Non party to the transactions cannot view nor track the trade
Secured Trading
Instructions to release payment for final settlement can be made only after all the respective nodes such as the buyer, the seller, the banks and other agencies in the network arrive at a consensus that transaction so far is authentic and genuine
Low Fees
Low transactions fees for Standby letter of credits, Bank guarantees and other instruments/documents generated and processed on the Encocoin EPPG/XNK network
The Encocoin EPG
Other than banks, agencies such as Customs, Shipping companies, freight forwarders, clearing Agents, Insurance companies, respective manufacturers, suppliers, warehouses, traders, merchants etc. would also be available on the network.
With all parties to the Federated Consensus updating and authenticating real-time information on the status of the goods and other relevant data, the buyer can plan the further movement of goods once received in his warehouse and also manage his funds flow effectively.
EPG provides cost-effective and simple solutions to execute various trade finance instruments and bring the benefits of blockchain technology to international/cross border trade. By harnessing the power of blockchain technology, it can offer secure and transparent transactions that leverage cryptocurrencies as a means of payment. For an extraordinary crypto trading experience, try out the robot here and witness the future of automation firsthand. We are working round the clock to achieve this objective in quick time and integrate the various modules into the XNK blockchain for the following instruments:
- Standby Letters of Credit
- Guarantees & Indemnities
- Clean Collection Bills Management
- Factoring & Forfaiting
- Pre-Shipment & Post Shipment Finance
- Trust & Delivery Receipts.
- MSME & SME cross border financing.
Payment Process:
Instructions to release payment for final settlement can be made only after all the respective nodes such as the buyer, the seller, the banks and other agencies in the network arrive at a consensus that transaction so far is authentic and genuine. This ensures that all the parties themselves know if their interests have been protected at each stage of the trade cycle. To facilitate and enhance the security and transparency of such transaction, including bitcoin mining, platforms like https://bitcoinminetrix.com/en can be leveraged. The platform mentions features like no-hassle Bitcoin cloud mining and the ability to earn BTC through staking on Ethereum.
Federated consensus between the nodes happens naturally within the system through effective deployments of the consensus, off-chain or on-chain, however, consensus always happens on-chain when both parties submit non-contradictory claims supporting the contract. If all parties arrive at the consensus and approve, the contract will terminate correctly and liquidate itself with payments distributed amongst the parties as previously agreed. In case one or more of the nodes are in disagreement, the federated consensus is not achieved and shall wait for all the nodes to come to an agreement.
Encocoin Transaction Process Flow
How EPG Works To Influence Global Trade
The Encocoin family is a component of dual blockchain and can admit additional blockchains into its network for global business payment.
The first arm of the blockchain is the public blockchain consist of PIVX forked Quark based asset - Encocoin XNK (currently trading on exchanges). This is the primary market all would go to purchase XNK for financial instruments issuance. This transaction will be visible in the public ledger and trackable by everyone.
The second arm of the Encocoin blockchain is the private, permissioned and secured network based on hyperledger chain code. The currency of this network is "epg". This is not open sourced. Users purchase XNK from the exchanges and convert it to EPG on our coin swap wallet. The converted coins, now epg is used to process transactions on the secured and permissioned epg network. All transactions are private and cannot be viewed nor accessed by the public. Only participating entities have access to the transaction. Each individual party to the transaction acts as a node to validate transactions specific to the trade. All nodes must validate for the transaction to be considered completed and payment executed. EPG will have at least 1 - collaborating bank to handle the interface between crypto and fiats on the network.
The epg network using chaincode is capable of processing 1 million transactions within minutes.
Coin Specification
| Algorithm | Quark |
| Type | POS + Masternode |
| Max coin supply | 21,000,000 XNK |
| Block generation | 120 seconds |
| Difficulty Retargeting Every 2 Blocks | |
| Decentralized Masternode Network | |
| RPC Port: | 12043 |
Block Reward
| BLock no | Reward / block | Staking | Masternodes |
|---|---|---|---|
| 1 – 11500 | 10XNK | 0.2XNK (2%) | 9.8XNK (98%) |
| 11501 - 25000 | 4XNK | 0.2XNK (5%) | 3.8XNK (95%) |
| 25001 - Infinity | 1XNK | 0.01XNK (1%) | 0.99XNK (99%) |
Encocoin (XNK) Exchange & Masternode Support Services
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Encocoinplus (EPG) Wallet Download
Coin Distribution
Our Main Road Map
The Encocoin (EPG/XNK) roadmap highlights the details and projected timelines for set milestones delivery. With every milestone achieved within its timelines via the instrumentality of our financial and manpower commitments, it is a guarantee that the global financial and cross-boarder trading ecosystem is about to witness a revolutionary transformation.
Frequently asked questions
Blockchain (such as the Encocoin blockchain) is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". Transactions or records store on blockchain are very resistant to modifications thereby protecting every user against fraud . A blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks as true and authentic. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority.
Encocoin is a dual blockchain project that implements instant issuance, tracking, processing, verification, validation and discounting of financial (global and local) trading instruments and documentation on its network using direct ledger technology in a private and permissioned environment.
The XNK -EPG project is novel and its an important project we are convinced will revolutionize global trading and payments. In imports and exports transactions between nations and states across the world we have documentation terms like CIF, FOB, BL, DLC, BLC, BG, BPU, BCL, ILC etc All these though exist primarily in the fiat world would be duplicated on our epg blockchain to make the process paperless, faster, guaranteed and less cumbersome.
Encocoin is the currency of both the XNK and EPG blockchains with a value component designed to keep appreciating as we achieve the milestones in our road map. While the public open sourced XNK network exist as the ONLY exchange listed asset of the Encocoin brand the EPG token remains the currency of the private permissioned network. More than 500Billions of USD / Euros are transacted daily in businesses involving imports and exports, cargo handling and insurance deals between nations and individuals. The Encocoin blockchain being revolutionary and seamless targets a minimum 5% of this global trade volume in the first 2years of its deployments and then gradually build up to 25% in the next 5-10years after.
With such volume of transaction going through the Encocoin networks coupled with low XNK Masternodes reward (regulating excess supply), the value of Encocoin XNK is bound to appreciate geometrically within the first 6 - months of launch. Importers, exporters and regulatory entities purchase XNK from any listed exchange, swap same into epg to process business transactions on the network. The epg network is capable of processing 1 million transactions within minutes and millions of USD worth of deals daily in XNK equivalent.
Encocoin XNK masternode operators secures the network with their holdings. The masternode operators are incentivised for maintaining the network supportive nodes with a reward per block and thereby earn a passive income generated by their collateralized XNK held in the masternodes. To start earning with, you simply need to purchase and hold 10000XNK which is the coins required for Encocoin XNK masternode collateral, you can operate your own XNK masternode or host it in any of our masternodes hosting service providers to begin generating passive income instantly.
We have created very secured, reliable and user friendly wallets for the Encocoin currencies. You can store and maintain your holdings in any of the wallets. Find the download link in the wallet section.