- The Energy Web Token (EWT) is an open-source platform, which aims to support the development of energy sector applications.
- The Energy Web Token helps companies to accelerate their decarbonisation mission.
- According to CoinMarketCap, the EWT was trading at US $14.77 with a 24-hour trading volume of US $32,561,041.
The Energy Web Token (EWT) is an open-source platform, which aims to support the development of energy sector applications. As an operational token to the Energy Web Chain, the EWT token’s main aim is to ensure diversity in the energy sector. Besides, it also allows the developers to create decentralized applications (DApps), which enables Energy Web Token to provide customised solution to the users. The Ethereum blockchain network powers the Energy Web Token to be more traceable, democratised, and decarbonised energy in nature.
Launched as a joint project by Rocky Mountain Institute (RMI) and Grid Singularity (GSy), the Energy Web Token helps companies to accelerate their decarbonisation mission. Backed by a robust system, the Energy Web Chain is governed by over 25 validator nodes, including grid operators, start-ups, and others. The Energy Web Token comes with advanced security features and offers scalability to organisations.
Also read: Is NULS (NULS) worth your attention?
How does it work?
The Energy Web Token operates on the Proof-of-Authority (PoA) consensus to keep the Energy Web Chain's network in sync. The PoA only allows a limited number of nodes to validate transactions. As it works on the ERC-20 mechanism, it has a robust mechanism to ensure that the transactions are done securely. The validators are aptly rewarded in Energy Web token on the completion of the block.
Also read: GSX crypto: Why is it grabbing attention?
Should you go for EWT?
Energy Web Token is ranked 166 on CoinMarketCap. According to CoinMarketCap, the EWT was trading at US $14.77 with a 24-hour trading volume of US $32,561,041. At the time of drafting (BST 2:00 pm), EWT was up by 14.46% in the last 24 hours. EWT currently has a live market cap of US $443,881,850 with a circulating supply of 30,062,138 EWT coins.
Why Energy Web Token is a viable option for the long term?'
With the crypto market increasingly moving towards being energy efficient, the Energy Web Token is a viable option to invest in. In fact, it has garnered interest from leading brands such as Aeon, Vodafone, Google, etc. More enterprises are looking to invest in blockchain networks to help them decarbonise.
Marker experts predict that with the rising demand for such blockchain networks, the future of EWT tokens is bright. They predict that the EWT token will move up, and its price in the next five years could escalate rapidly, with it reaching US$50. But there are a few experts who predict the number to be higher, and it could well be around US$200 by 2026.