ZUG, Switzerland, Sept. 10, 2021 (GLOBE NEWSWIRE) — In support of the Crypto Climate Agreement (CCA), Protocol laboratories and internet of energy today announced a successful showcase of an open-source solution for decentralized purchasing of renewable energy by crypto miners. In this solution showcase, six Filecoin storage providers purchased verified renewable energy from 3Degrees using Web Zero Energy, a public search engine on renewable energies. The solution will eventually be applicable on any blockchain to allow any crypto miner to easily provide proof of green mining.
The CCA is a private sector-led initiative to decarbonize the crypto sector with open-source decentralized solutions and promote industry best practices. Energy Web is a co-organizer of CCA and Protocol Labs and 3Degrees are supporters of CCA.
In the showcase announced today, renewable energy purchases are recorded in Filrep, a reputation system used by customers to store data on the decentralized Filecoin network. The integration of Energy Web Zero’s renewable energy data into the reputation system allows customers to consider renewable energy in their decision when choosing a storage provider. Each record on Filrep points to a verification page in Energy Web Zero, showing where the energy was generated, documenting the renewable source, and providing an attestation certificate proving ownership of the corresponding renewable energy credits.
Over the next year, Protocol Labs and Energy Web will create a set of open source solutions that will make it easy for all Filecoin storage providers to find and purchase renewable energy on Energy Web Zero. Filecoin storage providers and customers will be able to verify the supply to back up their environmental claims, as it is anchored on the public energy webchain, making it traceable to existing renewable energy registries as well as individual energy projects. solar, wind and hydroelectric power.
The comprehensive cross-chain solution to be rolled out in mid-2022 will create a decentralized unique identifier (DID) on the energy web chain for each Filecoin storage provider that chooses to participate and link renewable energy purchases from storage providers to their respective DIDs. This linkage between the DID of a given Filecoin storage provider and the verified green Filecoin mining operation will allow that storage provider to reflect their zero carbon status in the Filecoin reputation system and to trace the customer’s energy attributes back to the storage provider. storage to individual renewable energy projects.
This cross-chain solution under development can be extended to miners in other ecosystems, as the underlying technical architecture will take advantage of the verifiable and interoperable hash links that are the basis of Web3 technologies such as IPFS and all blockchains. The project will therefore support the development of verifiable renewable crypto-mining projects such as green hashrate.
Protocol Labs and Energy Web will share updates on progress over the coming months before releasing open-source, market-ready solutions.
About Energy Web
Energy Web is a global, member-driven, non-profit organization accelerating the low-carbon, customer-centric energy transition by unlocking the potential of open-source digital technologies. We allow any energy asset, owned by any customer, to participate in any energy market. The Energy Web Chain, the world’s first enterprise-grade public blockchain suitable for the energy industry, is the anchor of our technology stack. The Energy Web ecosystem includes leading utilities, grid operators, renewable energy developers, corporate energy buyers, IoT/telecom leaders, and more.
To learn more, please visit https://energyweb.org.