Article Summary, Automatically Generated By AI
Summary of Internet of Energy Network
- Definition: Open protocol and standard for enabling connection and value flows between energy devices, users, or markets.
- Interconnected system of minigrids facilitating transactions within and between minigrids.
- Two currency layers: IOEN (staking mechanism for financial liquidity and governance) and local transaction systems built on Holochain platform.
- IOEN Protocol is open source, aiming to accelerate the transition to clean energy minigrids globally.
- Numbers and figures: None.
- Case studies, anecdotes, and examples: None.
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Vital takeaways and insights:
- IOE Network re-engineers grids to
Unlocking the Power of Decentralized Energy: The Internet of Energy Network
The IOE Network is formally defined as: “An open protocol and standard facilitating seamless connections and value exchanges between any energy device, user, or market, thereby fostering a unified ecosystem.”
The Internet of Energy Network constitutes a sophisticated, interconnected system of minigrids that facilitate seamless transactions within and between minigrids, encompassing the entire spectrum from appliance-level consumption to storage and generation. This paradigm shift re-engineers traditional grids to operate as an intelligent, cooperative system, wherein devices within the network dynamically adjust their behavior to cater to local grid needs and individual requirements, driven by economic incentives.
The Internet of Energy network is underpinned by a dual-currency architecture. At the apex lies the Internet of Energy Network currency, IOEN (pronounced ‘ion’), which serves as a staking mechanism, providing financial liquidity and governance oversight to unlock local transactive minigrids. By staking these tokens, local Internet of Energy Communities (IOEC) can facilitate seamless transactions and interactions within a minigrid. The local transaction systems are built upon the Holochain platform, leveraging its core competencies in privacy, scalability, and efficiency. The open-source IOEN Protocol is designed to unlock the vast potential of clean energy minigrids globally.
Clean energy minigrids herald a promising future for energy globally. IOEN’s mission is to design and deploy a cutting-edge digital infrastructure, harnessing the potential of blockchain and Holochain technologies, to expedite this transformative journey for all.