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Energy Web Token (EWT) powers the Energy Web Chain, an open-source, blockchain-based platform designed to decarbonize the global energy sector. Its core innovation lies in enabling decentralized applications (dApps) that manage and trade energy resources more efficiently and transparently. The platform facilitates the tokenization of energy assets, such as solar power, and allows for the secure tracking of their origins and consumption. EWT utilizes a Proof-of-Authority (PoA) consensus mechanism, which is chosen for its energy efficiency and speed, crucial for real-time energy markets. This approach leverages trusted validators, making it suitable for regulated industries. The primary problem EWT addresses is the complexity and opacity in current energy grids, aiming to foster greater participation from renewable energy sources and improve grid flexibility. By providing a decentralized infrastructure, it seeks to accelerate the transition to a sustainable energy future.
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