Concern for energy production, resource consumption and its impact on the environment is one of the dominant topics of debate on the world stage. The intense energy costs of mining Bitcoin and other proof-of-work cryptocurrencies are also frequently noted as a serious drawback for this emerging asset class.
As environmental concerns and the cost-of-reward debate continue, there is a group of cryptocurrency projects aiming to bring blockchain technology to global energy grids as a way to foster renewable energy generation through a marketplace. flexible that connects buyers and sellers of energy.
EWT / USDT 1-day chart vs. POWR / USD vs. WPR / USD. Source: TradingView Three energy-focused projects that have seen triple-digit gains since early 2021 are Energy Web Token (T: 1766) (EWT), Power Ledger (POWR), and WePower (WPR).
EWT / USDT
Energy Web Token (EWT) is the operational token of Energy Web Chain, an open source enterprise blockchain designed to support and encourage the development of applications for the energy sector.
According to the project website, the “Energy Web is accelerating a customer-centric, low-carbon power system by unleashing the potential of decentralized open source digital technologies.”
The project was launched in June 2019 and has since grown to a wide network of partners with some globally recognized companies such as Volkswagen, Siemens and Hitachi.
Once fully developed and integrated, your virtual machine could help connect different areas of the energy industry, including network operators, software developers, and vendors.
One of EWT’s biggest price movements in 2021 came in early March, when the token was listed on Kraken, the US cryptocurrency exchange.