Skip to main content

IOTA'S NEW LIVE APPLICATION AGAINST THE ENERGY CRISIS

 


In one of their blog posts, the IOTA Foundation announces that they will support more than 45,000 private households in the fight for low energy costs in the EnergieKnip project. In today's article, I would like to go into more detail on how the cooperation with the Dutch blockchain company BlockchainLab Drenthe works and why this is another pointer in the right direction for IOTA.


What is behind the EnergieKnip project?

The last article reported on the numerous upcoming IOTA projects, now follows another project that is already being used in the real world. In the future, transactions for around 48,575 households will be displayed on the Tangle.


The blockchain company Drenthe has launched a new token called EnergieKnip (translated energy wallet). This means that in future all households in the municipality of Emmen in the Netherlands will be able to call up the energy data for houses. This is not a government currency, but a token that is uniquely targeted to a specific region/organization.


However, the whole project is part of the Dutch government to meet the European Union's long-term climate goals to reduce long-term energy consumption. It is also important that the data is collected anonymously. Under no circumstances should the government be able to identify a specific house based on the parameters recorded in the system.


What role does IOTA play in this?

Like any blockchain or DLT, IOTA is useful as the basis for a local tokenized currency because it reduces the administrative costs of organizing a local coin, facilitates transactions, and prevents fraud.


Smart contracts allow the coin to be given an automatic expiration date, for example, or to only be used for certain purposes.


This is why IOTA was chosen:



No transaction fees and therefore a cost-effective network

Low energy costs within their own ecosystem (especially compared to Bitcoin and Ethereum)

High transaction speeds (even of the smallest data sets) with easy operation

Here's how it works

Each house within the community is assigned a seed associated with a digital wallet. After the residents have entered the questions about their energy saving measures and their behavior in the apartments (e.g. number of solar modules, behavior of the television, etc.) in the app, these are saved on the Tangle.


For the various data sets, the residents now receive the Energieknip coin as a reward sent to their app. They can now use these coins to buy new, more energy-efficient devices at local retail stores, such as LED lights instead of old halogen ones.


The retailers, in turn, can then exchange this coin for euros with the municipalities. In return, in addition to the digital coin itself, the municipality receives the valuable anonymous data of the residents, where the cycle closes again.


With this relatively simple real adoption with IOTA, we see once again the great potential behind this technology and how easy it has become to use IOTA profitably for our society cheaply, quickly and with little energy.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
Upland - Collect Digital Properties & Test Your Skills
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more