NRCH crypto is a new cryptocurrency that uses the Enreach algorithm

## What is the EnreachDAO Algorithm?

The [EnreachDAO](https://enreach.io/)(NRCH) currency is designed to be more secure and efficient than other cryptocurrencies. It offers several features that make it attractive to investors.

For example, NRCH crypto uses a unique system of blocks that allows for rapid transaction times and low fees. In addition, the currency is backed by a reserve of real assets, which provides additional security.

The Enreach algorithm is also designed to resist quantum computing, ensuring that NRCH crypto remains secure in the future. As a result, NRCH offers investors a unique combination of security, efficiency, and low fees.

In addition, NRCH crypto was designed to be more energy-efficient than other cryptocurrencies, making it more environmentally friendly. Enreach is still in its early stages, but it has the potential to become a major player in the cryptocurrency market.
The Enreach network behind NRCH is based on the [Ethereum](/coins/eth) blockchain, enabling users to make secure and transparent transactions.
It is also ERC20 compliant, meaning it can be stored in any Ethereum-compatible wallet.

In addition, NRCH is mintable, meaning that new tokens can be created as needed. As a result, NRCH provides a flexible and versatile way to make payments online.
NRCH is a mined cryptocurrency, meaning that new coins are created through the process of mining. This involves verifying transactions on the Enreach blockchain and is rewarded with NRCH coins.

In order to mine NRCH, you must have a special computer called an ASIC miner.

As you'd expect, NRCH is a decentralised cryptocurrency, so a central authority does not control it. Instead, its users manage it through its blockchain, a public ledger that records all NRCH transactions.

NRCH is currently the 17th-largest cryptocurrency by market capitalisation.


NRCH Crypto: EnreachDAO Explained

If you don't know, "smart contracts" are self-executing contracts with predetermined rules. They are stored on the blockchain and can be used to automate the exchange of money, property, shares, or anything of value. Smart contracts are created using programming code, and once uploaded to the [blockchain](/articles/learn-moni/what-is-blockchain), they become immutable and irreversible.

## All About Smart Contracts

The term "smart contract" is understood as a computer protocol used to facilitate, verify, or enforce a contract. They can be used to track assets throughout their lifecycle, from creation to destruction.

Nick Szabo first proposed smart contracts in 1996 as a way to enable secure transactions without the need for third-party intermediaries. Today, smart contracts are used to streamline various business processes, from supply chain management to land registry.

The use of smart contracts can help to reduce costs, speed up transaction times, and increase transparency. Traditionally, when buying a car from a dealership, you would need to sign a contract and then make a payment to the dealership. With a smart contract, you could instead send your payment directly to the smart contract.

The smart contract would then release the funds to the dealership once the car has been delivered. This kind of transaction is more efficient and reduces the chances of fraud or dispute.

## How Smart Contracts are Changing the Blockchain Landscape

Smart contracts are important innovations in the blockchain space. By allowing for the execution of contracts and transactions without the need for a third party, smart contracts are set to revolutionise how we do business.

For example, smart contracts streamline supply chains, ensuring that goods are delivered on time and that payments are made promptly. They can also be used to create immutable records of transactions, preventing fraud and protecting data.

In addition, smart contracts can be used to create Decentralised Autonomous Organisations (DAOs), which are autonomous organizations that do not have a single entity in control.

The possibilities for smart contracts are endless. They are already starting to change the way we think about blockchain technology.

## Businesses Already Using Smart Contracts

Smart contracts are quickly becoming a popular tool in many different industries. They allow businesses to streamline a wide range of processes, reduce costs, and securely store and transmit data. Some examples of businesses already using smart contracts include online retailers, financial services providers, transportation companies, and healthcare providers.

Online retailers like Amazon use smart contracts to facilitate secure payments between buyers and sellers. With smart contracts, shoppers can purchase items quickly and easily without going through the intermediary of a payment processor like [PayPal](https://www.paypal.com/im/home) or Visa. This reduces costs for merchants and helps to ensure that transactions are faster and more secure.

Similarly, financial services providers are also turning to smart contracts to streamline processes within their organisations. For example, investment firms can use smart contracts to automate the transfer of assets among different parties, thereby maximizing efficiency and minimising the potential for errors or delays.

Likewise, insurance providers can use smart contracts to automate the management of payouts in the event of claim settlements or damage assessments. Overall, it is clear that smart contracts have vast potential to improve businesses across all industries.

## The Future of Smart Contracts

They are an integral part of blockchain technology, serving as the foundation for all transactions on the blockchain. These contracts use programming logic to execute various actions, from completing simple tasks like tracking payments to complex operations such as updating smart property records.

The advantages of smart contracts are numerous, ranging from increased security and efficiency to streamlined processes and decreased transaction costs. As the technology continues to develop, smart contracts seem poised to play an increasingly important role in the future of the blockchain.

Whether used for financial, legal, or other purposes, smart contracts will be crucial in powering smarter and more connected systems worldwide. 

Given their growing popularity and significant potential benefits, it seems likely that smart contracts will only become more prevalent in years to come.


Smart Contracts are Revolutionising Blockchain

Smart contracts are a fascinating aspect of blockchain technology. They are self-executing contracts that use code to enforce the terms of an agreement automatically.

This makes them incredibly useful for various applications, and they are starting to gain traction in several industries.

This blog post will explore what smart contracts are and how they work in the blockchain!

## Defining Smart Contracts

A blockchain is a decentralised, spread database used to store data across a peer-to-peer network. The data is stored in blocks, and each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

[Bitcoin](/coins/btc), the first and most well-known blockchain application, uses blockchain technology to create a global payment system that is secure and transparent.

They are perhaps most easily explained as self-executing contracts written in code and stored on the blockchain. A smart contract contains all of the terms and conditions of an agreement, and once the conditions of the contract are met, the contract automatically executes the agreed-upon actions.

Smart contracts are used for many purposes, including financial transactions, voting, and asset management. Being on the blockchain means they are secure and transparent. Smart contracts could revolutionise the way we interact with each other and do business.

## How Do Smart Contracts Work in the Blockchain Ecosystem?

A blockchain is a decentralised, distributed ledger that records transactions in a public or private network. Smart contracts are digital agreements stored on the blockchain and are automatically. Being stored on the blockchain makes smart contracts tamper-proof and transparent.

The contract terms are written in code, and the contract is executed automatically when the conditions of the contract are met.

Smart contracts can also be used to create tokenized assets, such as loyalty points or digital certificates. Smart contracts are often used in conjunction with blockchain-based applications, such as [Decentralised Autonomous Organisations (DAOs)](https://www.investopedia.com/tech/what-dao/).

DAOs are organisations that are run by code, and they use smart contracts to automate decision-making and governance. By using smart contracts, DAOs can operate without a central authority or control.

## Use Cases for Smart Contracts

The defining feature of a smart contract, a computer protocol that enables blockchain-based transactions, is that it can automatically execute the terms of an agreement between two or more parties.

This makes them well-suited for use cases where there is a need for trustless, tamper-proof transactions, such as exchanging money, property, or other assets.

In addition, smart contracts can be used to create decentralized applications (dApps). dApps are programs that run on a blockchain and are not controlled by any single entity. They are often open-source and allow anyone to participate in their development and use.

There are numerous use cases for smart contracts and dApps, ranging from financial services to supply chain management. As the technology evolves, even more innovative use cases will likely emerge.

## The Future of Smart Contracts

Elimination of paper documents and the automation of repetitive tasks means that smart contracts can help to streamline operations and reduce costs.
At the same time, blockchain technology can provide a level of security and transparency that is not possible with traditional contracts.

As a result, smart contracts are likely to play a major role in the future of business. While there are challenges to overcome, such as scalability and regulatory compliance, it is clear that they could shift the way we do business for the better.


Smart Contracts and the Financial Market Revolution

Harmony One is a well-kept secret that won’t be a secret much longer. The coin has seen a recent surge in price and no doubt a surge in attention.

When Ethereum launched on July 30, 2015, as another decentralised open-source blockchain cryptocurrency playing little brother to Bitcoin- they knew they had something different. Ethereum has the functionality of Smart Contracts. A way to further extend the utility of cryptocurrencies in ways that can potentially change the way the world works.

Just like Bitcoin has spawned many copycat coins, Ethereum has given birth to so many amazing projects that are built based on the Ethereum smart contract model. Harmony is most certainly one of the more efficient and affordable coins to transact with.

## About Harmony

[Harmony Mainnet](https://www.harmony.one/) was launched in June 2019. Our network has produced 30M+ blocks with 450k+ transactions in publicly traded, native ONE tokens. Harmony’s bridges can connect any Proof-of-Work and Proof-of-Stake chains. Their FlyClient architecture is fully trustless and highly gas-efficient. Currently, their bridges for Ethereum and Binance Smart Chain secure tens of millions of cross-chain assets.

Developers simply change Chain ID and enjoy faster EVM executions identical at the bytecode level. They can use their familiar and standard Web3 tooling to easily migrate to Harmony.

As far as users they can continue to use MetaMask or Ledger — but now pay minimal fees. Any Ethereum wallets or portals can work on Harmony without code changes or new installs — they are fully compatible for both transaction messages and execution environments.

## What is harmony one used for?

The One token is used as a stake in the consensus model used with Harmony. The holders can earn block rewards and are incentivised to keep the system healthy. The tokens are used to pay for various fees, including transaction fees, storage fees, and gas fees.

Speed kills, in a good way.

Harmony One is well known for its amazingly fast transaction times and very low fees.

Transaction times of 2 seconds at 1 block and fees of $0.000·001 USD are superb when compared to Ethereum at 6 minutes/25 blocks and fees that are continuously making holders very upset. 

## The Price is Right?

Just to place things in perspective: On Aug 31, 2015 [Bitcoin (BTC)](/coins/btc) was valued at $227.18 and [Ethereum (ETH)](/coins/eth) was $1.25.

On January 28 2020 Harmony was priced at $0.00502 with a market cap of $18.3 million- at the time of writing (October 7th, 2021) its priced at $0.219 with a market cap of $2.43 billion, yes billion with a B. A significant increase in that span of time.

Harmony One seems to have a very bright future and at this price, it’s still a great time to jump on the bandwagon- I certainly am.

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