Parity Technologies and Energy Web, a non-profit building operating system for carbon-free energy grids, announced their joint plans to “enable energy companies to operate their own sovereign and customizable blockchains or in partnership with other players in the energy market ”.
According to announcement, blockchains as part of the new consortium relay chain “will allow players in the Energy Web market to meet their specific governance requirements and to experiment with new crypto-economic solutions through the wider ecosystem Substrate, Polkadot and Kusama ”.
First multi-channel network connected to Polkadot
Substrat, an open source multi-chain framework, allows entities to build customizable blockchains. In addition, the Consortia Relay Chain will position itself as the first multi-chain network connected to Polkadot.
Energy Web Chain is currently based on an Ethereum Virtual Machine (EVM) and Proof of Authority consensus mechanism originally developed by Parity Technologies.
“Innovations like these will help our community to move even faster in our work to create a real impact on the global energy transition. Imagine if companies and individuals making a real contribution to the energy transition – by investing in solar, batteries or the use of electric vehicles – could be encouraged to do so and be given a specific governance role weighted by their relative contribution Says Jesse Morris, CEO of Energy. Web Foundation.
“We see this partnership as a great opportunity to help companies in the energy sector learn about some of the most advanced decentralized technologies in production, namely personalized run times and flexible governance mechanisms for all. kinds of blockchains, private, public, hybrid or otherwise, ”said Dr Gavin Wood, founder of Polkadot and co-founder of Ethereum.
Launch of Testnet and connected blockchains in the second quarter of 2022
The Consortia Relay Chain infrastructure will be developed as an opt-in solution with and for the current Energy Web ecosystem and will require a new token. Parity Technologies also intends to join as a validator of the current Energy Web channel. A net test version of the consortia relay chain and an initial set of connected blockchains are expected to launch in the second quarter of 2022.
Presenting a summary of the most important daily stories in the world of Crypto, DeFi, NFT and more.
Get a edge in the crypto-asset market
Access more crypto and background information in each article as a paying member of CryptoSlate Edge.
Sign up now for $ 19 / month Discover all the advantages