EWT
Energy Web Token
$0.2681
1.58%
Energy Web Token
EWT
$0.2681
1.58%
Energy Web Token Price Converter
Energy Web Token Information
Energy Web Token Markets
About Energy Web Token
Energy Web Token (EWT) is a blockchain-based cryptocurrency designed for the energy sector, operating on the Energy Web Chain. It focuses on integrating renewable energy sources for a sustainable energy ecosystem, facilitating transactions, incentivizing participants, and supporting decentralized energy applications. EWT is part of the Energy Web Foundation (EWF), a non-profit working on decentralized, decarbonized energy systems, collaborating with energy companies, tech providers, and developers. EWT's utility includes transaction facilitation, governance through staking, incentivizing validators and developers, and access to decentralized energy applications. It's pivotal in advancing renewables, energy efficiency, and decentralized energy solutions.
Energy Web Token (EWT) is the native cryptocurrency of the Energy Web Chain, an open-source blockchain platform aimed at accelerating the transition to renewable energy sources. The platform focuses on making the energy ecosystem more traceable, democratized, and decarbonized by utilizing blockchain technology for transparent energy trading, grid management, and more. Within this ecosystem, EWT serves multiple roles such as facilitating transactions and incentivizing community participation.
EWT is part of the Energy Web Foundation (EWF), a global non-profit organization founded in 2017 by the Rocky Mountain Institute and Grid Singularity. They aim to advance blockchain solutions in the energy sector and facilitate a transition to a decentralized, low-carbon energy system.
Transaction Facilitation: EWT is primarily used for transaction payments, particularly for gas consumption on the Energy Web Chain. It facilitates secure and transparent peer-to-peer energy trading, grid management, and the settlement of energy-related contracts.
Access to Energy Web Applications: Holding EWT grants users access to various decentralized applications and services built on the Energy Web Chain, including energy marketplaces, grid management tools, and renewable energy certificate tracking systems.
Staking and Governance: The first staking mechanism for EWT was launched in December 2021, introducing decentralized identifiers (DID) and verifiable credentials (VC) for enhanced user authentication. These mechanisms aim to fortify the cybersecurity of Energy Web's decentralized solutions while encouraging long-term staking. Special staking pools and 'Snapshot VCs,' which are types of verifiable credentials, offer additional rewards and governance capabilities to those who stake consistently.
Silver VC: Issued to users who joined the consortia pool later but staked consistently. Gold VC: Issued to users who have staked consistently from the beginning of the consortia pool.
Silver Pool: Open only to Silver VC holders, running for 1 week and distributing additional rewards. Gold Pool: Accessible only to Gold VC holders, also running for 1 week but with higher APY to reflect more consistent staking. Green Pool: Open to everyone subject to email verification, with a daily reward set at 0.0168% (equivalent to an APY of 6.32%).
