Energy Web Token Platform
Energy Web Chain, a blockchain-based virtual machine designed to facilitate and promote the development of energy industry applications, uses the Energy Web Token (EWT) as its working token. In June 2019, the energy network was launched. The non-profit organization responsible for the initiative is called the Energy Web Foundation. By enabling developers to create decentralized applications, EWT aims to diversify the business of energy (DApps). Network operators, developers and suppliers are just some of the power producers who can benefit from the virtual machine.
The Project Energy Web Token is a collaboration between Grid Singularity and the Rocky Mountain Institute (RMI) (GSy). One of the leading names in energy research and development is the Rocky Mountain Institute (RMI). RMI has participated in many innovative energy projects as a well-known think tank. To harness the decentralized potential of blockchain technology to enable energy producers to create new decentralized solutions, RMI Energy Web Chain was built.
The project used the blockchain expertise of Grid Singularity (GSy). As a blockchain developer, GSy was the driving force behind the development of Energy Web Chain. GSy was an important part of the implementation of EWT, as it included well-known experts, core developers of Ethereum blockchains, experienced energy managers and energy regulators. Proof of Authority (PoA) consent is used to operate the Energy Web virtual machine. This shows that the blockchain relies on trusted validators to add new blocks. Compared to a Proof of Work (PoW) consensus, a PoA consensus provides an alternative validation mechanism that allows for faster processing times. The current market cap of Web Energy tokens is $118,293,2
The maximum amount is 100,000,000 EWT tokens, currently 30,062,138.00 (30%) are in circulation.
Web Energy Tokens Weakness The creators of the Energy Web Chain, RMI and GSy, decided to provide a flexible blockchain solution for various energy-related applications. The ability to fully customize distributed applications is one of EWT’s main selling points for enterprises. The Energy Network Chain was created specifically for the energy sector, but other blockchains such as Ethereum also offer this diversity.
Because Energy Web Chain is designed for enterprise use, it enables the ultimate in scalability and data protection. The organization also recently announced the Energy Web Decentralized Operating System, Technology Package (EW-DOS). Users can use it to remotely control and manage their electrical installations.
Energy Web Token (EWT) Platform Benefits
Passive Reward By providing other services or sharing your energy resources with the network, users can earn passive benefits. The incentive concept of the platform replaces the current centralized traditional business model with a more democratic and inclusive one. Consumers can now participate in the trillion-dollar market for energy services by connecting to these energy-producing islands.
A growing network, the Energy Web Token (EWT) network of more than 100 players in the global energy market. These businesses cover the entire spectrum of service providers in the renewable energy and distributed energy markets. Energy Web Token is constantly looking for new partners who share their passion for a greener market.
Energy Web Token (EWT) Network Past, Present and Future Prices
Energy Web Token price has followed a volatile past since March 2020, reaching its first price peak at $13.0 in August 2020, the second and the highest price in mid-April. 2021 $19.6. Since then, the price of EWT has been volatile and generally down.
Global markets have seen strong risk sentiment in recent months due to geopolitical tensions, China’s containment of Covid-19 and supply chain issues. The cryptocurrency market followed the trends of the larger markets during these times, so the prices of most cryptocurrencies fell, EWT falls into this category.
According to some analysts, the future price of The Energy Web Token (EWT) may reach $11.0
by 2025 and exceed $71.9 by 2030. However, it is important to remember that this future price forecast is based on data only and does not take into account factors such as investor sentiment and constantly changing market conditions, both of which make accurate future price predictions difficult.