BOULDER, Colo. (PRWEB) November 07, 2017
One month after its private release, Tobalaba is now fully accessible to third party users and developers. Startup companies and application developers in the energy sector can now start using the most advanced network of its kind to develop their decentralized, blockchain-based applications.
EWF is taking an agile and incremental approach to its technology development, with the intention of addressing specific user needs and use cases. This way, the network will evolve based on user feedback received by startups and developers, establishing fluid communications regarding the tech requirements and features present in the network.
Easy deployment scripts will be available for developers to set up complex development environments, and new builds will be regularly included on the EWF GitHub repository.
The network will enter its Beta phase at Event Horizon 2018 and will go live, with full practical implementation, at Event Horizon 2019. These annual energy blockchain summits serve as hubs for education and business interaction with the view of faster blockchain deployment in the energy space.
The EWF blockchain is designed to grant the highest standards of privacy, enabling compliance with regulation while facilitating the required scalability.
Protecting user privacy is one of the major challenges for a blockchain addressing the needs of the energy industry. Responding to this challenge, the Energy Web Foundation has introduced the concept of compliant privacy, allowing all smart contracts, transactions and transition states to be visible only for recognized authorities, while protecting the private keys of all the users through its Secret Store functionality. This is a major technological breakthrough that unleashes a range of applications.
To enable a strong and efficient regulation of transactions, EWF affiliates have taken the role of network validators. The validators can agree upon standards by whitelisting specific smart contracts or power plants eligible to transact energy on the network. This way, a broader scenario is created where whitelisted smart contracts become valid at a global scale.
Authorities that have already set up a validator node on the network are EWF affiliates Centrica, Elia, Engie, SempraEnergy, Shell, SPgroup, Statoil, STEDIN, TEPCO and TWL, together with EWF founders Grid Singularity, Rocky Mountain Institute and implementation partners Parity Technologies, Brainbot AG and Slock.it. The list is constantly growing with the arrival of new EWF affiliates.
The network has been designed with scalability envisaged as one of its core features. Currently, it already surpasses Ethereum main net by one order of magnitude. Further improvements will be brought by embedding solutions such as the Raiden Network, scaling up supported transactions per second to over 1 million.
Doug Miller, Senior Associate, Rocky Mountain Institute
T: +1 443.465.2931
About Energy Web Foundation
The Energy Web Foundation (EWF) is a global nonprofit organization focused on accelerating blockchain technology across the energy sector. The intent of EWF, through its Energy Web Platform, is to develop a market standard that ensures interoperability, reduces costs and complexity, aligns currently dispersed blockchain initiatives, and facilitates technology deployment through easy-to-implement applications. For more, visit https://energyweb.org