Greet from Altcoin City,
Welcome to another Altcoin Analysis of the Altcoin Analyst.
Today, we’ll dive into the world Energy Web Token (EWT) – the future of energy on the blockchain! 💡
In 5 minutes you'll learn:
What is EWT?
Traceable renewable energy tracking
Real-world applications: EV charging, grid balancing
Challenges and influential partnerships
Let's dive right in 🔎
Energy Web started in 2017 as a joint initiative between RMI, a global non-profit with decades of experience identifying pathways to profitably decarbonize the energy sector, and Grid Singularity, a noted blockchain developer who saw the technology’s promise in the energy sector, along with a cohort of 10 founding energy companies.
Their mission? 🤔
To accelerate the energy transition by developing and deploying open-source Web3 technologies that help companies unlock business value from clean and distributed energy resources.
Mission, Energy Web Foundation
Glad you asked!
It's not just a token, it's a game-changer. EWT supports a wide range of real-world applications, from renewable energy certificates to electric vehicle charging and grid balancing.
Just imagine, they've already partnered with Volkswagen to deliver a 24/7 renewable energy charging solution for electric vehicles! ️
And that's just the beginning.
Their software development kit (SDK) can even track and match renewable electricity generation and consumption on a 24/7 level.
Mind-blowing, right?
Enterprise adoption is truly an unstoppable force in this ecosystem!
They've ditched the old Ethereum Virtual Machine (EVM) and hopped onto the Polkadot Parachain bandwagon.
Why?
Because they're all about that sweet interoperability, scalability, and security! 🚀
Plus, Polkadot opens the door to a whole new world of features and applications that Energy Web can't wait to explore.
By joining forces with Polkadot, they're aiming to attract a swarm of developers and users to their buzzing ecosystem. 🌈🔌🤝
As of June 26, 2023, EWT is valued at $2.69 USD. But it's not just about the price.
CoinGecko EWT history
EWT is a utility token that powers the Energy Web Chain and its applications. Plus, it's a governance token that gives holders a say in the network's decision-making. Power to the people! 💥
EWT is used for network participation, trading, and transaction fees on the Energy Web Chain. It follows the ERC-20 standard, so you can store it in any compatible wallet. And get this: there's a fixed supply of 100 million EWT, with no inflation or emission schedule. It's all about stability, baby! 💰
Now, let's dive into the details.
In 2019, the Energy Web Foundation raised a whopping $17 million in a private sale of EWT tokens. The sale attracted over 40 investors, including major energy companies. Talk about backing!
The token sale allocated 37% of the total supply to the foundation, 28% to the alliance, 20% to strategic partners, 10% to the community fund, and 5% to the public sale.
The tokens had a vesting period of two years, which ended in June 2021. All tokens have been unlocked, including the founder tokens. The foundation and the co-founders reaffirmed their commitment to the mission and pledged to use their tokens for the benefit of the network.
Energy Web Chain uses a proof-of-authority (PoA) consensus algorithm. They've handpicked a set of trusted validators who secure the network. This means fast and low-cost transactions, high scalability, and energy efficiency. It's a win-win! ️
Energy Web has a superstar team with experts in blockchain, energy, and business development leading the charge. Walter Kok, the CEO of Energy Web Foundation, knows what he's doing!
And don't forget their incredible partners: Shell, Engie, Siemens, Total, and PG&E. These giants believe in the project's potential.
And you know what? So do I! 🚀
Energy Web faces regulatory uncertainty, competition from other blockchain projects, technical limitations, and resistance from industry players. But hey, they've got the determination to overcome it all!
Energy Web has teamed up with Volkswagen to provide green charging solutions for electric vehicles using blockchain technology.
And BlackRock, the world's largest asset manager, named Energy Web as one of the projects leading the decarbonization efforts in the energy sector.
Impressive, right?
And let's not forget about Ocean Protocol, the decentralized data exchange protocol that partnered with Energy Web to enable data sharing and monetization for renewable energy assets. It's a collaboration made in heaven! 🌈💼
With over 70k Twitter followers, 7k Telegram members, and 5k Reddit subscribers, their community is buzzing with excitement.
Developers, users, and enthusiasts all come together to discuss, provide feedback, and join in on exciting events. It's a vibrant and supportive community that believes in the project's vision and accomplishments.
I would give Energy Web (EWT) a solid 4,5 out of 5 score. It's a promising project with a clear goal of revolutionizing the energy sector.
With a stellar team, impressive partnerships, and a robust platform, the potential is sky-high. But remember, there are challenges and risks on the horizon, like regulatory issues and competition. That's why we always recommend doing your own research and due diligence before diving in. Knowledge is power! 💡💪
To sum it all up, Energy Web (EWT) is leading the charge towards a low-carbon, decentralized energy system. They're using blockchain technology to create transparency, traceability, and efficiency in the energy sector.
With a strong team, influential partners, and a passionate community, Energy Web is on the path to success.
But remember, no journey is without its obstacles. So, buckle up, do your research, and join the green energy revolution! 🌱🔌
Disclaimer: This is not financial advice. Always conduct your own research before making any investment decisions.
With all this information in mind, you're better equipped to navigate the exciting world of Energy Web and make informed decisions. Crypto is a thrilling space, full of opportunities and risks.
Stay curious, keep learning, and who knows, you might discover the next big thing in the crypto universe! 🚀💫
The Altcoin Analyst
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