Energy Web Token

What is Energy Web Token?

Energy Web Token or EWT is utility token built into the Energy Web decentralized operating system (EW-DOS). The latter is a multi-level infrastructure based on blockchain technologies.

Network participants wishing to use the Energy Web Chain must have an EWT. The Energy Web token plays an important role in network security because it acts as a stimulus for validators and is used to cover transaction fees. In addition, it can be used for payment for engineering services.

It is important to note that developers can implement tokens other than the Energy Web Token into their applications, in addition to fiat currencies.

The maximum supply of EWT tokens is 100,000,000, and all of them will be released within 10 years. They were distributed as follows:

• 37,900,000 – EWF Community Fund;
• 15,863,208 – Round B branches;
• 10,901,792 – EWF Operating Fund;
• 10,000,000 – EWF Foundation;
• 10,000,000 — reward for the validator block;
• 10,000,000 — Founder’s Tokens;
• 5,000,000 – Round A partners;
• 335,000 – Series C partners.

For more information, you can view EWT price history or the current Energy Web Token price in the chart above.

What are the main features of Energy Web Token?

EW-DOS is an infrastructure that allows you to create blockchain-based applications for enterprises.

This is a completely open source project. This means that its code is publicly available for anyone to view.

The project began with the launch of Energy Web Chain. The latter represents based on EVM Enterprise level blockchain. It works using Proof of Authority (PoA) a consensus mechanism based on validators. As discussed in the “What is Energy Web Token” section, validators are incentivized by block rewards and transaction fees.

Most importantly, the environmental impact of the PoA consensus mechanism is much less than that of other popular consensuses such as Proof-of-Work (PoW).

After the launch of Energy Web Chain, the next step was to modernize the network. This is where the Energy Web Decentralized Operating System (EW-DOS) comes into play. It connects electrical systems on a global scale, thereby enabling online control.

EW-DOS is fully decentralized software stack. It is divided into three layers – the trust layer, the utility layer, and the application and SDK layer. The utility layer and the application layer and SDK help develop applications. Some of their technologies include:

• Switch – a set of identity and access management (IAM) tools based on Self-Sovereign Identity (SSI) technology. Simply put, it defines identifiers and access rights within a project. Although the toolkit was created specifically for the Energy Web project, it can be used in any project;
• Energy Web Zero is a tokenized renewable energy search engine that connects buyers and sellers on a global scale. It was launched in September 2020 with the aim of making procurement operations as efficient as possible.

The first company to use EW-DOS was Austrian power grid.

One of the main goals of this project is to promote integration of blockchain technologies into the energy sector. Therefore, its solutions have enhanced scalability and privacy features to meet the needs of large enterprises.

Anyone who has some knowledge of blockchain technologies knows that blockchains require a significant amount of computing power to carry out their operations. Energy Web is taking the necessary steps to mitigate the impacts of blockchain technology by using a greener consensus mechanism.

It is important to do your research before diving into any blockchain project, including Energy Web Token. Here you can start by checking the EWT price in the chart above.

Who developed the Energy Web Token?

The Energy Web Token cryptocurrency project was launched in June 2019 by the Energy Web Foundation. The latter is a non-profit company headquartered in Switzerland. co-founder Rocky Mountain Institute (RMI) – clean energy research organization, Grid Singularity (GSy) – green energy blockchain startup, and branch team.

The company is based in Zug, but also has offices in Berlin and Colorado.

Jesse Morris is the CEO of the Energy Web Foundation. He has been working in the clean technology industry since 2006. Some of his most notable work was done at the Rocky Mountain Institute, which contributed to the creation of the Energy Web Foundation.

The Energy Web Token cryptocurrency project cooperates with various companies, including Vodafone, Shell, Volkswagen and many others.