- The Energy Web Chain (EW Chain) is an open-source, public blockchain designed specifically for the energy sector. It is based on the Ethereum technology stack, but it uses a Proof-of-Authority consensus mechanism to significantly increase transaction capacity and decrease energy consumption compared to the Ethereum mainnet and other public blockchains.
- The EW Chain is designed to be a more scalable and efficient platform for energy-sector applications, such as peer-to-peer energy trading, renewable energy asset management, and demand response. It allows developers to build dapps and deploy smart contracts on the blockchain without having to worry about the high gas fees and slow transaction speeds of the Ethereum mainnet.
- The Energy Web Foundation is a non-profit organization that is responsible for the development and governance of the EW Chain. The foundation is made up of a diverse group of stakeholders from the energy sector, including utilities, grid operators, renewable energy developers, corporate energy buyers, and others.
The EW Chain is still in its early stages of development, but it has the potential to be a major player in the energy transition. It could help to make the energy sector more efficient, transparent, and secure.
Here are some of the key features of the Energy Web Chain:
- Energy-efficient: The EW Chain uses a Proof-of-Authority consensus mechanism, which significantly reduces the energy consumption of the blockchain.
- Scalable: The EW Chain can handle a high volume of transactions, making it suitable for large-scale energy applications.
- Open-source: The EW Chain is an open-source project, which means that anyone can contribute to its development.
- Governance: The Energy Web Foundation is responsible for the governance of the EW Chain. This ensures that the blockchain is managed in a transparent and accountable way.