Energy Web Chain: Time to disrupt the analog energy era!

Energy Web Chain: Time to disrupt the analog energy era

Content

  1. What is an Energy Web Chain
  2. 3 layers of Energy Web — Decentralized Operating System
  3. Energy Web Origin
  4. Energy Web Flex
  5. Energy Web usecases
  6. Energy Web applications
  7. EW Zero
  8. EW Switchboard
  9. Team
  10. Energy Web Token ($EWT)
  11. Energy Web Solutions
  12. Conclusion

What is an Energy Web Chain?

Energy Web Ecosystem is comprised of some of the biggest companies in the world such as Engie, E-On, Eneco, ECOHZ, Electrorbas etc. Validators that invested and now host nodes for the chain include the largest energy companies including Shell, EDF, Engie, PTT, Total or Tepco.

Validators of Energy Web Chain

Proof of Authority approach of Energy Web

If you would run something that needs to follow legal and statutory standards, would you run it openly and risk the intervention of regulators? Probably not.

3 layers of Energy Web — Decentralized Operating System (EW-DOS)

The Energy Web Decentralized Operating System (EW-DOS) is an open-source stack of decentralized software, standards and software development toolkits (SDKs) running on the decentralized network secured by the well-known companies from the energy sector such as large utilities, grid operators, and technology companies.

3 layers of EW-DOS

Trust layer — Energy Web Chain

Energy Web Chain is a foundational blockchain specific to the energy sector. It provides the baseline for the timestamp immutable data-sets and their state transitions in smart contracts.

Utility layer — the middleware layer

The utility layer is the middleware layer of the EW-DOS stack. It streamlines the experience of creating and managing decentralized applications by providing tools to easily build solutions for UX tools, back-end application services and high-volume messaging. Services provided by public service nodes in the utility layer are valued and paid for in the EWT.

  • Energy Web Name Service (EWNS) — simplifying managing of DIDs (Decentralized Identifiers)
  • DID (Decentralized Identifiers) Key Recovery
  • Transaction Relay — enables users to interact with EW Chain without dealing with EWT
  • Bridges —connection with other blockchains such as Ethereum (EWTB, DAI for this moment)
  • Oracles — connecting on-chain data (from blockchains) with the data from the outside world
  • Other Chain Abstraction — API generator for communication between on-chain identities and off-chain data
  • Identity Directory —a smart contract with a list of DIDs and associated claims and other data
  • Messaging — high-volume communications that do not rely on blockchain transactions
  • Storage — scalable data storage on blockchain both non-editable (content-addressed) and key-value data (like the reference of the latest version of an app).

Toolkit layer

Software development toolkits provide generic functionality for different usecases and markets. They need to be customized and implemented for a specific context. Two main toolkits are Energy Web Origin and Energy Web Flex, so let's have a closer look at them.

Energy Web Origin

EW Origin is an open-source, customizable, decentralized application that records the provenance of electricity generated by renewables and automatically tracks its ownership. Origin is designed for plug-and-play compatibility with existing regulations and tracking systems such as the I-REC Standard.

Energy Web Flex

EW Flex is a suite of SDKs for integrating Distributed Energy Resources (DERs) into energy markets and demand flexibility programs.

Energy Web usecases

There are several possible usecases for Energy Web:

  • simplifying traceability of clean energy and carbon emissions
  • increasing grid flexibility by using distributed energy resources
  • enabling developers to build applications built on foundations of energy web decentralized operation system
  • issuing energy attribute certificates (EACs) for proving that renewables such as solar, wind or hydro have generated a specific volume of electricity in a certain place at a certain time

Energy Web Applications

EW Zero

EW Zero enables any renewable energy buyer to find and source procurement options from across a wide variety of digital marketplaces globally. Simply put, buyers can easily verify available supplies of renewable energy options — including energy attribute certificates (EACs) such as renewable energy certificates (RECs), guarantees of origin (GOs), and International RECs (I-RECs).

EW Switchboard

EW Switchboard is an open-source tool for identity and access management (IAM) for users, assets, and application developers that leverages SSIs (self-sovereign identities), DIDs (Decentralized Identifiers), and VCs (Verifiable Claims) for authentication, authorization, and accounting.

Team

Behind EWC stands the Energy Web Foundation (EWF), a non-profit organization that has a very strong team composed of experts from the electricity and energy sector.

Walter Kok from EWF, Ed Hesse from Grid Singularity, Gavin Wood from Parity Technologies

Energy Web Token

  • paying for transaction fees that then goes to validators and the community fund,
  • protecting the network against misbehavior.
EWT distribution

Energy Web Solutions

We are now heading towards the most amazing paragraph, as what you can expect to be the main purpose for the Energy Web Chain and EWT token. Here are a few major examples for future utilization.

Renewable energy markets

The demand for renewable energy sources grew in 2020 despite the pandemic situation in the world, while the consumption of all other fuels decreased. How will renewable energy sources expand as the global economy wakes up from the global crisis? More likely the demand will grow more and more including the necessity of renewable energy certificates (RECs) in North America, guarantees of origin (GOs) in Europe or the International REC Standard (I-REC) in the rest of the world.

Demand flexibility

Its expected that investments in distributed energy resources (DERs) will increase ten times till the end of this decade. Grid operators and distribution system operators will need to scale at much higher levels compared to today’s numbers. Asset registrations, pre-qualification, dispatch, and settlement for DERs such as rooftop solar panels, integrated battery systems, electric vehicles or smart appliances.

Electric Vehicles

By rapidly growing electric vehicles (EVs) demand by customers and increasing orientation of conventional car producers into this field, it's expected that in 2030 there will be hundreds of millions of EVs. The energy consumption will be huge, similar to today’s electricity needs of Germany, the 4th largest economy!

The Decentralized Autonomous Area Agent (D3A)

Decentralized Autonomous Area Agent (D3A) was developed by EWF cofounder company Grid Singularity. It’s a blockchain-backed digital market framework for the 21st-century grid that enables any energy-consuming or energy-producing devices to interact with each other in a trustless blockchain environment

Schematic grid lay-out of a LEC deploying a D3A energy exchange engine, source

Conclusion

Energy Web Chain is the world’s largest energy blockchain ecosystem. Energy Web has become the industry’s leading blockchain partner for utilities, grid operators, renewable energy developers and corporate energy buyers.

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Polkadotters | Kusama & Polkadot validators

Polkadotters | Kusama & Polkadot validators

Czech bloggers & community builders. We are validators of Polkadot, Kusama, Darwinia, Crab, Bifrost, HydraDX, StaFi, Centrifuge under the name: POLKADOTTERS