Energy Web Token (EWT) is the native operational token of the Energy Web Chain, a blockchain-based platform tailored to support and advance application development within the energy sector.
Launched in June 2019, the Energy Web Chain is spearheaded by the Energy Web Foundation, a non-profit organization. EWT serves as the fuel for diverse decentralized applications (DApps) aimed at revolutionizing various aspects of the energy industry, including grid operations, software development, and vendor services.
The founders of Energy Web Token are the Rocky Mountain Institute (RMI) and Grid Singularity (GSy). RMI, renowned for its contributions to energy sector research and development, envisioned leveraging blockchain's decentralized capabilities to foster innovation in the energy domain. GSy, with its expertise in blockchain technology, played a pivotal role in developing the Energy Web Chain, collaborating with experts, Ethereum developers, energy executives, and regulators.
What sets Energy Web Token apart is its focus on providing a versatile blockchain solution specifically tailored for the energy sector. Unlike general-purpose blockchains like Ethereum, Energy Web Chain is purpose-built to meet the diverse needs of enterprises operating in the energy industry.
Energy Web Token offers enterprises the flexibility to create highly customized DApps, backed by state-of-the-art scalability and data privacy features. The recent introduction of Energy Web Decentralized Operating System (EW-DOS) further enhances users' ability to manage and control their electrical systems online.
In terms of tokenomics, Energy Web Foundation plans to release a maximum supply of 100,000,000 EWT tokens over a ten-year period. Currently, approximately 48,638,535 EWT tokens are in circulation. The network operates on a proof-of-authority (PoA) consensus mechanism, where trusted validators are responsible for block creation, ensuring faster transaction processing compared to traditional proof-of-work (PoW) systems.
Energy Web Token can be traded on various cryptocurrency exchanges, with KuCoin, Liquid, and Hotbit being among the popular platforms. However, investors should be aware of the associated risks, as with any investment.
For more information on Energy Web Token and related topics, interested individuals can explore resources such as Power Ledger, Restart Energy MWAT, Byzantine Fault Tolerance (BFT), and the CoinMarketCap blog.
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