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Summary of Energy Web Token (EWT)
Overview
- Energy Web Token (EWT) is the operational token behind the Energy Web Chain, a blockchain-based virtual machine designed for the energy sector.
- Launched in June 2019 by the Energy Web Foundation, a non-profit enterprise.
Founders
- Joint project between Rocky Mountain Institute (RMI) and Grid Singularity (GSy).
- RMI: leading research and development in the energy sector.
- GSy: blockchain developer and creator of the Energy Web Chain.
Uniqueness
- Designed for the energy
About Energy Web Token (EWT)
Introducing Energy Web Token (EWT): A Pioneering Cryptocurrency
The Energy Web Token (EWT) serves as the operational linchpin behind the Energy Web Chain, a blockchain-based virtual machine meticulously designed to foster and accelerate application development within the energy sector.
Launched in June 2019, the Energy Web Chain is a pioneering initiative spearheaded by the non-profit Energy Web Foundation. The EWT’s primary objective is to inject diversity into the energy sector by empowering developers to craft decentralized applications (DApps). The virtual machine’s vast potential is poised to benefit a broad spectrum of stakeholders across the energetics landscape, encompassing grid operators, software developers, and vendors alike.
The Visionaries Behind Energy Web Token: Meet the Founders
The Energy Web Token is a collaborative endeavour between the Rocky Mountain Institute (RMI) and Grid Singularity (GSy), fostering a synergistic partnership.
Rocky Mountain Institute (RMI), a renowned entity in the energy sector, has been at the forefront of research and development. As a prominent think tank, RMI has been instrumental in driving numerous groundbreaking projects in the energy sector. By conceiving the Energy Web Chain, RMI sought to harness the decentralized prowess of blockchain technology, thereby empowering stakeholders in the energy sector to develop innovative, decentralized solutions.
Grid Singularity (GSy) lent its blockchain expertise to the project, serving as the driving force behind the creation of the Energy Web Chain. As a seasoned blockchain developer, GSy’s team of esteemed experts, comprising core Ethereum blockchain developers, seasoned energy executives, and veteran energy regulators, played a pivotal role in EWT’s successful launch.
Unveiling the Uniqueness of Energy Web Token
When conceiving the Energy Web Chain, founders RMI and GSy envisioned a versatile blockchain solution tailored to cater to a diverse array of applications within the energy sector. A key differentiator of EWT lies in its ability to empower enterprises to craft fully customized, decentralized applications. While blockchains like Ethereum also offer a degree of versatility, the Energy Web Chain was deliberately designed with the specific needs of the energy sector in mind.
Notably, the Energy Web Chain, designed with enterprise use cases in mind, boasts cutting-edge scalability and data privacy features. Furthermore, the foundation has recently unveiled a groundbreaking, stacked technology solution – the Energy Web Decentralized Operating System (EW-DOS) – empowering users to remotely control and manage their electrical systems with ease.
As of February 2021, the Energy Web Token holds the 102nd position in the CoinMarketCap token ranking.
What Is the Circulating Supply of Energy Web Tokens (EWT)?
The Energy Web Foundation has outlined a roadmap for the gradual release of a maximum supply of 100,000,000 EWT tokens, to be rolled out over a ten-year period commencing from the initial launch date. As of now, a total of 48,638,535 EWT tokens are currently available for trading on the market.
Out of the total supply, a substantial allocation of 14,093,276 tokens was endowed to the Energy Web Team. Additionally, 10,000,000 ETW tokens were granted to two founding organizations, albeit with a vesting period that will lapse in June 2021, at which point these tokens will become freely tradable. Furthermore, a dedicated community fund was established with an initial allocation of 4,061,709 tokens, which is slated to incrementally increase over the next decade.
The Energy Web Token Network’s Robust Security Framework
The Energy Web virtual machine operates under a proof-of-authority (PoA) consensus mechanism, which entrusts the creation of new blocks to a network of trusted validators. As an alternative validation method, PoA consensus offers faster processing times compared to the traditional proof-of-work (PoW) consensus.
Where to Acquire Energy Web Token (EWT): A Comprehensive Guide
As the Energy Web Token gains widespread recognition, its availability is expanding across a diverse array of exchanges. Notably, KuCoin has emerged as the premier exchange for EWT trading, boasting an impressive EWT/USD trading volume of $383,098.
Next in line is Liquid, boasting an impressive EWT/BTC trading volume of $173,637. Last but certainly not least, EWT’s popularity is gaining momentum on Hotbit, with a notable EWT/BTC trading volume of $65,375. It is crucial to acknowledge that investing in EWT, like any other investment, inherently carries a degree of risk.
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