IOEN AND IT’S FIRST PROTOCOL Version V0.1

We as humans need energy to survive in our everyday life, in fact the whole cosmos is made of matter and energy which helps to keep it in dynamic equilibrium.

People may ask what are network energies, well energies is often provided to users through networks, such as electric power grids, heat supply networks and gas networks.

More on this later, today we look at another project that helps to facilitate transactions within and between microgrids.

About IOEN

From the appliance level through energy generation, storage, and consumption, the Internet of Energy Network is an integrated system that supports transactions within and across microgrids. There are two subsystems in this system.

The Internet of Energy Network (IOEN) has a currency that is a terrific token used as a staking mechanism to unlock value transfer to, from, and between microgrid apps. Staking the IOEN tokens enables IOEC credits, which are utilized locally to support grid services and applications, as well as to trade energy value inside them.

Also with a very efficient platform which the (IOEN) system is built on, is the Holochain platform, which takes advantage of Holochain’s unique mutual credit accounting and key competences in privacy, scalability, and efficiency.

On Protocols and Rules

We can say that protocol is a system of rules that explain the correct conduct and procedures to be followed in formal situations, this conducts can be applied to different conventions, and the rules depends on what types of data can be communicated, what commands are used to send and receive data, and how data transfers are confirmed are all part of these regulations.

A protocol can be compared to a spoken language. Each language has its own set of laws and lexicon. When two persons speak the same language, they can effectively communicate.

*Hey pips just an heads up about a rumor that, the Ioen team is working tirelessly to ensure that their protocol is released within the next several weeks.

What are the benefits of this protocol for the Internet of Energy Network? (IOEN)

The newest version of this protocol expected to be released in the coming weeks, if I could recall that is protocols that helped to make the bitcoin blockchain and other blockchain secure and dependable, allowing bitcoin to become the market leader in the global crypto market.

The Bitcoin protocol demonstrated that digital currency could be securely traded over the internet. Thousands of additional types of digital money have sprung up in its wake, each with its own set of protocols. Fundamental developments in encryption and decentralized computation have continued to offer up new possibilities for blockchain protocols over the last decade or so.

The adoption of protocols by the internet of energy network would help to strengthen its network and make its blockchain more secure and trustworthy.

IOEN Mission

Using blockchain and Holochain technology, IOEN enables homes anywhere to function together as an intelligent, cooperative electricity system. By connecting homes in this way, they become a local, virtual energy microgrid.

As we well know that having a clean energy microgrids are the energy grids of the future. The objective of IOEN is to develop and deliver digital infrastructure using blockchain and Holochain technologies, allowing everyone to benefit from the transformation.

For more information reach out on

https://www.ioen.tech/

--

--

--

Nigerian and Your whole plug

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Beginners Guide: How the ETHPad Tier System Works

Solana-The Ethereum Killer

Aleo was born out of a desire to achieve the impossible — to create a user interface on the…

How to delegate $Luna(Terra) on Trusted Node using your Terra Station Wallet

Emotiq — ICO Review

Call for Students — Classifying the top 300 tokens according to the International Token…

ITSA lists Terra UST Stablecoin in Tokenbase

Machine Xchange Coin(MXC) is to Officially List in CYBEX

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
ignatius juniour

ignatius juniour

Nigerian and Your whole plug

More from Medium

A Recent History of Anti Racist Struggle in OEA

Hello and welcome back.

This part is Called Recovery with a loop.

¡Los tres gringos en Ecuador!