WERENODE AND USAGE OF WERENODE IN TODAY’S WORLD

3 min readMar 26, 2022

What is Werenode, and why should you care about it?

Anyone can share their electric vehicle charging station through the Werenode platform. You get rewarded when you share your charging instrument with other heat unit users using our mobile app and public good contracts Tezos. Our architecture allows for a more straightforward approach to new heat unit services (Plug & Charge, good Charge, V2G, novice electricity complete, etc. ), energy consumption/production, and fleet management of heat unit charging stations. Because we’ve chosen to maximize the quantity of knowledge held on the blockchain, we invite different players to join this decentralized market to push the development of the heating unit charging network. Werenode is the native utility token used to charge transactions and purchase procured energy services (ex: V2G).

Werenode Portal’s Development

The development of this product is well along, and charging stations are currently being installed in various parts of the world. In Europe alone, 350,000 modules have been installed, with a 2 million extension planned. So, without a question, the market is expanding, and investments in this area are increasing. This sector has a diverse range of businesses, including homeowners of electric vehicles, persons who operate charging stations, and operators of large terminals. Users often face a range of issues as a result of using this environmentally beneficial method. The most important aspect, of course, is that the global structure is severely underdeveloped, and other people suffer as a result. However, there is currently a lot of interest in this type of energy, and there’s a chance that new smaller firms will enter the market and offer services in this area.

Exchanges with no central authority

The price of Werenode coins will be established by an ‘automatic market maker’ method, whether it’s through suburbanized markets like dextral or Quipuswap or a ‘new relevant comparable exchange.’This means that on suburbanized exchanges, the market can determine the value. ‘However, the Werenode emitted range for each delegation cycle will be adjusted to the current XTZ price.’ As a result, the amount of Werenode you receive is determined by the price of Werenode. The XTZ attempt is intended to be the first to be listed on suburbanized exchanges.

Method of Coin Burning

During this procedure, a coin-burning method known as is used to help enhance the token’s value. The number of tokens that are destroyed will be determined by an autonomous technique linked to the collateral business’s real activities. This coin-burning technique will be built into the good contract, and it will analyze whether the Werenode token is used as a traceability token or a payment token, and based on that analysis, it will trigger a back reward of a portion of the service’s worth.

System of Werenode

The Werenode system aspires to eliminate all barriers by incorporating blockchain technology and streamlining the appliance through value enhancement. A rather simple solution is envisaged, allowing anyone to easily create a Tezos case and join the Werenode network. All payments will be generated on the blockchain with the help of good contracts, and there will be a rise and consolidation of available charges inside the peer-to-peer network platform.