The topic of Crypto mining over the years has always been a controversial one as the process require and consume quite a lot of energy most of which are generated burning fossil fuels which release gases, harmful to the atmosphere during combustion. In recent times, the crypto space has suffered intermitent backlash from crypto decriers and criticizers regarding the contribution of crypto mining to the worsening climatic condition of the earth. The Internet Of Energy Network in view of this, seeks to provide a lasting solution, one beneficial to the crypto community and goes futher to secure a bright and safe future for the earth
Crypto mining in itself, particularly in a proof of work blockchain, is a way that new transactions are confirmed by the network and a critical component of the maintenance and development of the blockchain ledger. “Mining” is performed using sophisticated hardware usually called rigs that solves an extremely complex computational math problem. The first computer to find the solution to the problem is awarded the next block of bitcoins and the process begins again. This continous process of confirmation and solving require a lot of compuational and processing power provided by rigs and powered by energy most of which is derived from burning fossil fuels the consequence of which is obvious. In other to protect the environment we live in and the atmosphere generally, clean renewable energy desperately needs to be made accessible not only to crypto Miners but to individual homes and industries.
It is to this end that the Internet Of Energy Network through the holochain technology aims to connect all energy device including energy generation devices, storage devices like battries and regular consumption devices to work effectively with each other and collectively balance the grid, leveraging on smart interconnection made available by the IOEN technology. Using $IOEN application, users can set their mining rigs to automatically monitor local energy market conditions and crypto market prices, making the entire process a lot more flexible and profitable. Also homes connected within IOEN microgrids can take advantage of the intelligent interconnection to efficiently coordinate energy
IOEN’s mission is to support the development and interconnection of minigrids globally by providing the finance, open-source support tools, and integration capabilities to enable agent-centric minigrids to emerge. The IOEN Token uses the best of blockchain and Holochain technologies to support grid needs locally and globally, enabling financing, and then rapid exchange of energy value across devices, such as washing machines and air conditioners, required to balance their energy use to support grid stability.
ABOUT IOEN
The Internet of Energy Network is a community driven network with a vision of unlocking a future of clean energy. The IOEN tech enables smart connectivity of electrical appliances, from energy generation, storage to consumption in a system of virtual microgrids which leads and coordinates energy effectively; creating a secure reliable and scalable minigrid that explores the oppurtunities for more renewable energy within the local network Check for more info here
Official channels:
Twitter | YouTube | Telegram Chat | Telegram ANN | Medium |
