What Makes Energy Web (EWT) a Great Investment?

What is the quality of a good investment? Is it the potential for high returns? The safety of the investment? Energy Web (EWT) offers investors both of these qualities and more. In this article, we’ll take a closer look at Energy Web (EWT) and what makes it such a great investment.

History of Energy Web (EWT)

EWT is a blockchain-based platform that was created in 2015 by the Energy Web Foundation (EWF). The EWF is a non-profit organization that is dedicated to accelerating the transition to a decentralized, decarbonized, and digital energy system.

The EWF was founded by some of the world’s leading energy companies, including utility providers and grid operators. These companies saw the potential for blockchain technology to transform the energy sector.

Energy Web (EWT) is the first and only platform that was purpose-built for the energy sector. It is designed to meet the unique needs of the energy sector, such as transaction speed, scalability, and data privacy.

EWT is also the first platform to be certified by ISO, the International Organization for Standardization.

What is Energy Web?

The Energy Web Platform is designed to be the “digital backbone” of the energy sector. It is a decentralized platform that enables the sharing of data and transactions across the energy sector. The Energy Web Platform is built on top of the Ethereum blockchain, which provides a secure, decentralized, and tamper-resistant infrastructure for the Energy Web ecosystem.

The Energy Web ecosystem includes a variety of stakeholders, including utility companies, grid operators, renewable energy developers, and consumers. These stakeholders can use the Energy Web Platform to develop applications that enable them to manage their energy resources more efficiently and effectively.

The digital operating systems that make up the Energy Web Platform are designed to be open and interoperable so that they can be used by a variety of different energy sector players. The goal of the Energy Web Platform is to create a more efficient, cleaner, and more resilient energy system.

Energy Web aims that the low carbon electricity system of the future will be decentralized, digital, and decarbonized.

What are the Benefits of the Energy Web?

The Energy Web Platform offers a wide variety of benefits for utilities, consumers, and other energy market participants.

Some of the main benefits of the Energy Web include:

Reduced Costs: Energy Web can help reduce the cost of energy production and distribution by up to 30%.
Increased Efficiency: Energy Web can also help improve efficiency in the energy sector by up to 15%.
Improved Security: Energy Web can help improve security in the energy sector by providing a more secure and reliable platform for energy transactions.
Enhanced Sustainability: Energy Web can also help improve sustainability in the energy sector by enabling more efficient and cleaner use of energy resources.

These benefits will be great for those who plan to know more about Energy Web..

Disadvantages of Energy Web (EWT)

Of course, even the Energy Web (EWT) isn’t perfect, and there are a few disadvantages worth mentioning.

Here is the list of risks you must watch out for:

Slow: Energy Web (EWT) is slower than a centralized platform because it relies on consensus among nodes.
Expensive: Energy Web (EWT) is more expensive than a centralized platform because of the need to run multiple nodes.
Complicated: Energy Web (EWT) is more complicated than a centralized platform because of the need to manage multiple nodes.

These are just a few of the risks associated with Energy Web (EWT). While it has some advantages, you must be aware of these potential problems before you decide to use Energy Web (EWT).

How Does Energy Web Work?

Smart grid technology is vital for the energy transition as it enables a two-way flow of electricity and information between utilities and consumers. Energy Web provides the digital infrastructure that powers the smart grid, enabling a wide range of applications that manage energy resources more efficiently.

Energy Web consists of three main components:

Energy Web Device: This is the hardware that collects data from the grid and sends it to the Energy Web software platform.
Energy Web Software Platform: This is the software that runs on the Energy Web Device and manages energy resources more efficiently.
Energy Web Decentralized Application (DApp): This is the application that allows consumers to manage their energy use and make decisions about their energy consumption.

Peer-to-peer trading, demand response, and other energy management services can be provided through the Energy Web DApp.

Transactive Energy

The Energy Web Foundation defines transactive energy as “a system of economic and control mechanisms that allow generation, distribution, and consumption entities to interact flexibly to manage energy supply and demand among themselves.” In other words, transactive energy is a way of managing energy resources through the use of market-based mechanisms.

Transactive energy is made possible by the use of smart grid technology.

Energy Web Use Cases

There are a lot of ways that you can use Energy Web. Here are some examples:

Home Energy Management: You can use Energy Web to help you manage your home energy usage. This can include things like monitoring your energy usage, setting goals, and tracking your progress.
Commercial Energy Management: Energy Web can also be used in commercial settings to help with things like energy efficiency and demand management.
Utility Energy Management: Energy Web can be used by utilities to help with things like energy grids operation, load forecasting, and demand response.
Other Energy Management: Energy Web can also be used for other applications such as electric vehicles, microgrids, and distributed generation.

These are considered to be Energy Web use cases. Energy Web is a very versatile tool that can be used in a variety of different ways.

Energy Web (EWT) Price

The Energy web token price is $2.62211 USD. The Energy web token (EWT) is the native cryptocurrency of Energy Web Chain (EWC), a public blockchain platform that enables decentralized applications (DApps) and energy transactions on the Internet of Energy.

The market cap of EWT is $79,819,517.30 USD. Energy Web has a circulating supply of 30,062,128 EWT. The total supply is 68,743,776, while the Max Supply is 100,000,000. The current price of EWT is 88.20% lower than the all-time high of $23.33 on January 10, 2018.

The global economy has an effect on Energy Web (EWT) prices as it is highly correlated with the oil price. When oil prices are low, Energy Web (EWT) prices follow suit as demand for energy decreases.

Energy Web Partnership

The upstream energy companies, which are the largest investors in Energy Web (EWT), have formed a strategic partnership to develop the Energy Web platform. The partnership includes some of the world’s leading oil and gas majors, such as ExxonMobil, Chevron, BP, and Shell.

They support enterprise-grade applications that will enable the digital transformation of the energy sector. Clean energy assets will play a key role in the Energy Web, with a view to integrating them into the global energy system and providing new services to end users.

This is a joint project between Energy Web Foundation and Taipei Smart City Consortium to develop a proof-of-concept for an Energy Web-based platform that will enable real-time energy transactions between buildings and the electric grid.

The project will use Energy Web’s open-source software to create a digital marketplace where end users can buy and sell electricity, with prices set in real-time based on supply and demand.

The Energy Web Partnership is open to all companies who share the vision of a decarbonized, decentralized, and digital energy system.

Energy Web Roadmap

Since Energy Web Foundation’s (EWF) launch in 2017, the Energy Web community has grown to more than 130 organizations from 35 countries. The Energy Web Decentralized Operating System (EW-DOS) is the first decentralized operating system purpose-built for the energy sector.

The Energy Web Foundation is also working with a number of other partners to develop applications on the Energy Web platform.

These applications include:

WePower: a blockchain-based renewable energy trading platform.
Chai Energy: an Energy Web-powered application that enables residential customers to take control of their energy usage and costs.
WIZZLE: a blockchain-based platform that is using Energy Web to develop a decentralized electricity market in Europe.
Grid+: an Energy Web-powered application that enables residential customers to take control of their energy usage and costs.
The Energy Web Atlas: a platform that enables easy access to data, analytics, and other tools for the Energy Web ecosystem.

These are the plans for Energy Web’s future. For the year 2022, Energy Web wants at least 1 billion devices to be Energy Web-enabled and for the Energy Web stack to process 1% of global electricity demand.

For 2025, Energy Web wants 10 billion devices to be Energy Web-enabled and for the Energy Web stack to process 10% of global electricity demand.

The roadmap has been developed by a consortium of Energy Web Foundation members and Energy Web affiliates. The roadmap is a living document that will be updated on a regular basis to reflect the latest thinking of the Energy Web community.

Conclusion

ERC standards will play a critical role in the development of the Energy Web. The Energy Web platform is being built on Ethereum and other blockchain platforms that support ERC standards.

The Energy Web Foundation is working towards the goal aimed at solving some of the most pressing challenges facing the energy sector.

The Energy Web Foundation has ambitious plans for the future of the Energy Web.